Buying a home will always be a big investment, but there’s no need to feel overwhelmed. Play your cards right and you can save a lot of money. Here are 5 helpful tips to get the best deal on your next home:
- Hire an experienced real estate agent
Real estate agents can help save you money, time, and energy. Why else would 89% of homebuyers in 2019 have hired one when they needed to go house hunting?
As pros, Realtors are familiar with all the ins and outs of the market. Based on the specifications you’ve shared, they’ll be able to gauge which among the properties available on the market you might be interested in, and can help you craft an enticing offer. On top of that, you won’t have to worry about negotiations. With their superior negotiating skills, you can rely on Realtors to get you the best deal possible.
- Get multiple loan quotes
Not all loans are created equal. Interest rates, processing fees, and loan structures may vary from one lender to the next. Don’t rush into a deal with the first lender you meet; talk to a few of them before making a decision.
Look around a bit and you’re bound to get different quotes. Use this information to negotiate for the best rates. Shopping for that one extra quote could save you thousands of dollars, so there’s no reason not to do it.
- Improve your credit score
Buying a home will be a lot easier – and less costly – with a good credit score. Keep your credit score up and you could end up saving a considerable sum.
Well before you apply for a loan, work on boosting your credit score by:
- Paying your bills on time
- Minimizing credit card expenses
- Not applying for new credit
- Buy during the fall or winter
Spring and summer are the peak home buying seasons. With the fiercer competition, sellers are often less inclined to be flexible on price and terms. It’s best you wait until fall and winter to start buying. These are often the quieter times in the market, so you’ll have an easier time of striking a deal on a home.
What’s more, sellers typically look to close on property deals before year end. This means they might be easier to talk to at the negotiating table.
- Get it inspected
Homes on the market are rarely in perfect condition. Hold off on making an offer on a home until you’ve had it checked by a home inspector. A home inspector will cast his professional eye on every corner of the home and give you a detailed report on the condition of everything from the roof to the foundation.
If the inspector spots things like leaking pipes or structural issues, be sure to let the seller know. Such problems can cost some money to repair, so you may be able to negotiate a price cut.
Looking to save money when buying one of the beautiful houses for sale in Pacific Grove, CA? Our Realtors at The Peninsula Group Real Estate have got you covered. To check out your options in Pacific Grove, CA or other communities on the Monterey Peninsula, give us a call today at 831.595.5045 or send us an email at info(at)ThePeninsulaGroup(dotted)com.