For most people, one of the biggest factors when deciding what home to purchase is cost. It is crucial that the home you buy fits into your budget, whether this be with a 15 or 30 year loan. Thankfully, there are a few things that you can do to make sure that you are buying a home for a great price. Here are 3 great tips.
Purchase A Home In The Winter
Most people who are buying a home do not want to move in the middle of winter. They don't like the idea of moving when it is incredibly cold outside or when there is snow on the ground. They also may not want to move in the middle of the school year, if they have children. Because of this reason, sellers likely will not have nearly as much interest in their home during this time. This may cause them to reduce their asking price, and even offer to pay closing costs, in order to increase interest and sell their home. This is incredibly beneficial to you because you have the opportunity to purchase a home that would've been priced much higher in the summer time. While this isn't necessarily an option that you can control, if you do have a bit of flexibility when it comes to determining when you buy, then winter is a great time to get a great home for a lower price.
Don't Be Afraid To Bid Below Asking Price
Some people feel that they should not place an offer below asking price because they fear the person selling the home will not take them seriously. While this may be the case with an extremely low offer, it isn't with a reasonable one. In fact, the worse thing that can really happen when you bid below asking price is for the seller to counter your offer. This allows you to see where they stand, and in an ideal situation, would result in an accepted offer.
Get The Home Inspected
Even if you have already put in an offer on a home and had it accepted, you can still have the home inspected to see if there are any issues that weren't initially known. If something is found, you can negotiate the price so that these issues are repaired and paid for by the seller, or taken out of the asking price. This allows you to save even more on the home because you don't have to discover and pay for these things after you have already closed on the house.
By purchasing a home in the winter, bidding reasonably below asking price, and getting the home inspected, you can do your best to get a great home for an excellent price.