Stretch The Budget: House Bargain Tips

When you have finally crunched the finances, factored in your moving costs, and got your final figure that you can afford to spend on a new property, the hunt begins. 

This can be a pretty dispiriting time, especially as you find yourself constantly faced with more expensive properties that you would love but just can’t afford. It’s not a pleasant feeling when you feel your budget can’t move and there’s nothing to inspire you that you can afford - so how do you get the absolute most for your money?

Good Neighborhood; Low Price

We all know that where a house is located is as important regarding the purchase price as the actual construction of the property. So perhaps the best suggestion would be to look for lower-priced areas, even if it means sacrificing the things you want in terms of local connections and amenities.

That would work, but it’s always going to feel like a compromise. Instead, look for good neighborhoods such as those on http://www.manausa.com/southwood.php, but that also have more affordable offerings. They do exist; it’s vital you don’t just discount an area because you’re put off by the highest prices of the most expensive properties. Always look for smaller properties that might be able to give you the location that you want, for a price you can afford. 

Time It Right; Make Offers Correctly

The longer that a house has been on the market, the more receptive you will find the owners when it comes to making an offer. 

There is an art to making offers on property that have been on the market for awhile. You will sometimes see advice that suggests you should go in at a low price, but this can actually put the seller’s back up. If you make an offer that is so low to the point of feeling offensive, they’re not going to be receptive to future offers.

Instead, decide what you can afford, then offer around 15% below that. This gives you some room to manoeuvre if they counter-offer, but also should stop the offer being so low that it upsets the seller. You can also be sure that you’re going to be able to afford it should the offer be accepted, so don’t worry about making too high an offer - this is about affordability for you, not just hunting to get a good deal. 

Move At The Right Time Of Year

If you’re able to, try and time your move to coincide with autumn and winter. The property market tends to heat up around spring and summer, as families look to move before the onset of a new school year. If you can be hunting and making offers outside of this peak time, you not only lower the competition for good houses, but you also take advantage of the lower prices. 

At the very least, try and avoid May - according to http://www.huffingtonpost.com/, it’s the best month for sellers - which mean it’s going to be the most expensive time for buyers!