You’re looking for properties for sale, and you’re well aware of how expensive it can be. But that doesn’t mean you have to accept the prices that are being thrown at you. You could very well end up with a lot more house for a lot less money. You just have to know the opportunities at hand and be smart with how you proceed.
Be Mortgage Smart
Few people are going to buy a house outright. So, when it comes to getting a mortgage, what’s the smarter way to do it? Comparing a broad range of offers and what they mean for you is just the start. Don’t go for a mortgage until you have your credit in a strong position if you can wait for the house. If you have time, then consider saving up for a bigger deposit. This can make a home much more affordable in the long-term because you have less to pay off as you go. That can also mean a shorter payment period and lower interest payments. A decent mortgage broker will show you how to get the cheapest mortgage possible, so shop around.
Look Further Than The Next Street
If you have some freedom as to where exactly you move, then make use of that freedom. You might think that buying prices are the same everywhere based on the standards and the details of the area. But identical housing areas can have completely different housing markets. Check out housing maps or a Summerville SC Real Estate property search website to find your balance of affordable and attractive. You might not have to go as far as you think to find your dream home for a lot less.
Consider Going Downmarket
You might think about holding off on buying your dream house, as well. Instead, you could end up making it yourself. It’s reasonable to consider going into the lower ranges of your budget. You have to have the willpower and the know-how to take a fixer-upper and make the improvements that will significantly increase its value and standards. But if you’re buying a home for investment purposes, this is where the most money can potentially be made. There are a lot of elegant homes out there that can be elevated to the next level with a little work.
Fix The Roof
If there’s a problem with the roof, hire a roofing company to fix it. Buyers won’t usually want to buy any home with roof issues, unless there is a substantial discount off the market price.
If you don’t fix the roof (even if doing so is inexpensive), buyers will fear the worst. You’ll find it much harder to sell, and you’ll have to drop the price far below where you would like.
Take A Closer Look
The more informed you are on a home, the more likely you are to get a better deal. Having a home survey can help you pinpoint specific issues within a home. You might not get a lower price, but you are more likely to get the seller to invest in fixing the said issue before you move in. That way, you don’t have to pay for it yourself. Where you’re likely to drive the price down is in negotiation. Before getting to that stage, look at past house sales in the area and see what similar properties have gone for. This gives you a more realistic expectation of what you could actually be paying for a home.
Buying a house is never going to be cheap. However, that doesn’t mean that it can’t be a great deal. Keep your options open, if possible. Be willing to do a little more work for your value. Don’t miss an opportunity to get a better home for your money or even the home you want for less money.
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Thank you so much for sharing my post!
I would like to see more young adults when buying their first home look at starter homes. You hear of people wanting their forever home. Things change in life, like where you are going to work. A starter home lets you figure out home ownership, how much space you really need and where you want to be. There are some that never move out of their starter home because they love it, add to it or just love the area. People do not normally need these huge homes.
That’s a good thinking! I also agree with you that people do not need huge houses 🙂👍
Ah, it is a Sellers market here in the US, the only deals to be found are fixers and even those go for top dollar. COVID taught us that we can now live wherever we want, we just need good internet speeds!
That’s so true! 🙂