If you’re like most homebuyers, you have two primary considerations in mind when you start looking for a home. First, you want to find a home that perfectly meets your needs and desires. Secondly you want to purchase this home for the lowest possible price. When you analyze those successful homebuyers who have been able to purchase the home they want for thousands of dollars below the seller’s asking price, some common denominators emerge. Negotiating skills are important, but there are three additional key factors that must come into play long before you ever submit an offer.
These steps will help you save thousands when you buy a home.
Make sure you know what you want…
As simple as it sounds, many home-buyers don’t have a firm idea in their heads before they go out searching for a home. In fact, when you go shopping for a place to live, there are actually two homes competing for your attention: The one that meets your needs, and the one that fulfills your desires. Obviously, your goal is to find one home that does both, but in this world this situation doesn’t always occur.
When you’re looking at homes, you’ll find that you fall in love with one or another home for entirely different reasons. Is it better to buy the 4- bedroom home with room for your family to grow, or the one with the big eat-in kitchen that romances you with thoughts of big weekend family brunches? What’s more important? A big back yard, or proximity to your child’s school? Far too often people buy a home for the wrong reasons, and then regret their decision when the home doesn’t meet their needs.
Don’t shop with stars in your eyes:
Satisfy your needs first. If you’re lucky, you’ll find a home that does this and also fulfills your desires. The important thing is to understand the difference before you get caught up in the excitement of looking.
Find out if your agent offers a “Buyer Profile System” or “House-hunting Service,” which takes the guesswork out of finding just the right home that matches your needs. This type of program will cross-match your criterial with ALL available homes on the market and supply you with printed information on an on-going basis. A program like this helps home-owners take off their rose-colored glasses and; affordably, move into the home of their dreams.
See Also: 9 Buyer Traps