How To Never Pay Full Price For Property

It's little secret that property is one of the most expensive assets around. Whether you choose to rent or buy, it certainly doesn't come cheap - and deposits and mortgage payments alike can easily eat into your monthly budget, leaving little room for maneuver. It is for this reason that saving money on the asking price, or the monthly cost can be hugely beneficial to your personal finances. Of course, the issue with many estate agents and landlords alike is that they are used to people haggling, and a lot of them stand pretty firm. Haggling can be intimidating, and not all of us enjoy it or are good at it. However, there are certain tricks of the trade that can enable you to slash your asking price, or get a better deal on your rental demands.

Broaden your search 

If your approach to house hunting is going on your local property website and picking the first three houses you see, it's pretty unlikely that you're going to find a good deal! The property market is incredibly saturated, and you are likely to only really see the top offers and the fanciest houses at the top of these searches. But in reality, if you scratch below the surface, there are a whole host of other cheaper properties just waiting to be viewed. Consider looking exclusively for apartments with move in specials, as this way you could even end up getting the first few month's rent for free. Or, look on websites like Craigslist and Gumtree for people selling property/renting out their home. Obviously, you need to be mindful of scammers when using such websites, so familiarize yourself with the warning signs first before you make any inquiries. 

Ask for money off for discrepancies

Whether you are renting or buying the property, carry out a very close inspection of it during your viewing. The house shouldn't be on the market if it has anything wrong with it - but if some stones have been left unturned, you could end up haggling your way to a discount. If, for example, you turn up to the viewing and the oven is broken, or the paint is peeling, you should not be expected to foot the bill for this yourself once you've moved in. Instead, bargain with the owner or landlord about knocking some money off the price for you for the inconvenience. If they are a legitimate seller, they should be fine with this, as it is standard protocol. 

Look for last minute sales

If someone needs a property off their hands quickly, a smaller offer is more likely to be accepted. Haggling isn't typically as common when it comes to rentals, but it can still be done - and if the property has been on the market for a long time, it's fairly likely that the landlord will consider dropping the price. Be coy and polite about it, and who knows: your negotiating skills could end up saving you hundreds of dollars per month.