Buy for less with these top tips
Finding the perfect home can be stressful and time-consuming yet with the right advice, you could not only find the ideal property but also negotiate the purchase to ensure you secure the best possible price.
Finding and acquiring the right home can be highly stressful and time-consuming, as well as full of pitfalls that may not be apparent until well after the property is bought. Choosing the right estate agent is a big job. Not only will they have the experience and contacts to expertly source the perfect property for you, but they will also be able to negotiate the purchase to ensure you secure the best possible price.
- Do your homework
Spend as much time as possible researching your target area, even if you have lived there all your life. Spend a couple of months viewing a wide range of properties, both above and below your budget; only then will you appreciate how far your money will go and will gain a far better understanding of fair pricing. In terms of your purchase itself, take the time to understand the seller's position. If their property has been on the market for a while or they are in a chain and need to move quickly, your cheeky offer is far more likely to be considered.
- Be open minded
Once you have a good understanding of the market, it's time to consider all viable properties before putting an offer forward. Don't rule something out just because you don't instantly like what you see. Taking the time to think about how to maximise the space of a property can really pay off when it comes to selling further down the line. Surplus square footage can be converted into extra bedrooms, bathrooms and living space that will maximise the value of the property when you come to re-sell.
- Be proceedable
Ideally you want to have a solicitor instructed and mortgage in principal (if needed) before putting an offer down. Not only does this put you in a position to move forward quickly, it clearly shows the agent and the seller you are a serious about getting the deal done. In some situations, the agent can influence the seller in a choice of buyer, and if this is the case, you want to make sure you are at the top of their list.
- Set the tone
The first week after an offer is accepted sets the tone of the sale. A buyer's actions in that first week will show the seller what kind of buyer you are and will dictate the pace of the transaction. As soon as your offer has been accepted, you need to put your solicitor in touch with the seller's solicitor and get on the phone to your mortgage lender to arrange the survey.
- Instruct a proper survey
Make sure you instruct a proper survey. When the report comes back, make sure you follow through on advice given by the surveyor. Surveys will highlight major issues such as damp or failing boilers, that could cost you a small fortune down the line. If there are any issues, you can often use these to negotiate the price down further. If you are already setting a good pace with the transaction, the seller is far less likely to swap to another purchaser and will most likely accept the reduction, as long as it is reasonable.
Buying a home is an incredibly emotional process, and as such very few people effectively negotiate for themselves. If you are looking for your dream home, why not get in touch today?