Do you want to know how to get a good deal when buying a home?
We can understand if you do, and we can even help you get the best deal possible!
You have made the exciting decision to purchase a home. You already know which neighbourhoods you’d like to live in, and you know exactly which features you want your new home to have; such as granite countertops, told flooring, vaulted ceilings, and of course an awesome outdoor area for gardening and entertaining. You have done a whole lot of research and have come to the conclusion that you can actually afford this dream home you’ve been envisioning.
But wouldn’t it be even better if you could get this dream for a great deal?
So, what makes a great deal?
To know this, we must explore what gives a home its value.
Location, Location, Location… it’s a cliché for a reason!
By far the biggest influencer of price is location. Certain neighbourhoods, area codes or cities can drive up or down prices tremendously. But usually the areas just outside the “highly desired” neighbourhood boundaries are equally livable, but can be bought at a lower price. The “outskirts” can offer some of the absolute best home values.
There is another option for greeting a great deal, but it is not for everyone. This option is to look at home that have a little work left to do - and do it yourself. The payoff is usually quite astounding for the amount of work put in, so before you count this option out, you should know that:
For example, fully updated move-in ready home sells at $550k. A home one half the size on the same size lot in the same neighbourhood sells for $250k, but needs work. A contractor can completely renovate the home, put on an addition and give you a near BRAND NEW gorgeous home of the same size for around $225k. That’s a total investment of $475k for a home that’s now worth $550k. That’s a whole lot of equity!
Oftentimes, foreclosures and short sales are also fixer upper opportunities, so these homes can fall into the same category. While buying a short sale of foreclosure can usually help your save a few bucks, the process of purchasing can be many months longer than with just a regular home sale.
We have looked at the more tangible factors that go into pricing a home, which are not applicable to all properties, and only certain buyers will be courageous enough to take the risk vs. reward for a great deal on their home.
For everyone else, your fate lies in the hands of your Realtor and negotiating the contract with wisdom and respect so that all goes smoothly. We will negotiate not only the purchase price, but also the myriad of other terms and conditions that are negotiable on an offer that can really sweeten a deal such as:
These negotiable terms are our strength, and this is where we are really going to make the biggest difference in the getting the best bang for your buck. But fear not, you don’t need to get into the technicalities of this just yet.
After all, that’s why you work with a knowledgeable and experienced Realtor – to make sure you secure the absolute best deal and terms possible for your new home purchase.
We hope this has helped you feel that there is a great deal out there just waiting for you! We would love to be a part of the moving process so that you can Start Living in Ukee!
Please feel free to contact us.
