Purchasing a home is one of the most significant investments we will ever make. And, while we all have certain expectations of a property we buy, we don’t want to be duped into buying our dream home. It used to be difficult to know whether a home buyer was getting a good deal. Buyers can now stay informed about market prices thanks to online real estate portals. You will undoubtedly want to save money when purchasing a home. While the real estate market does not change overnight, you can save money on a home by following the tips below.

INDEX:

1. Create a budget for your home

2. Recognize a buyer’s market for home buying

3. Seek the advice of a real estate professional while buying your home

4. Look for a property that is still under construction

5. Purchase a home in a growing neighbourhood

6. Buy a property at an auction

7. Look for a resale home

1. Create a budget for your home:

You should ensure that the property you purchase will meet your current needs while remaining within your budget. Understanding your family’s current major needs as a property buyer will assist you in making the best decision.

2. Recognize a buyer’s market for home buying:

A buyer’s market is one where the inventory of real estate properties is higher than the demand. In such a market, it is easier to negotiate a price. Furthermore, in order to sell their home, even sellers are willing to offer a competitive price.

3. Seek the advice of a real estate professional while buying your home:

It can take a long time to research the market and find a budget-friendly property. As a result, hiring a real estate agent or company to find a suitable house within your budget is preferable. You should check their reviews before hiring any of them, and be wary of scammers.

4. Look for a property that is still under construction.

If you want to save money on a home, consider purchasing one that is still under construction. These homes are less expensive than their ready-to-move-in counterparts. When purchasing such a property, make sure it is RERA-approved.

5. Purchase a home in a growing neighbourhood.

Properties in developing township projects are less expensive than those in city centres. You can save 20 to 60% of the purchase price by purchasing a home in the suburbs. In addition, such homes appreciate in value over time. Furthermore, living in such an area provides you with a fresh and clean environment. 

6. Buy a property at an auction

Government organized auctions are a good place to buy a house at an affordable price. But before quoting a price for a property, you must evaluate its cost. Also, do not quote a higher price to win the bidding war.

7. Look for a resale home

Second-hand property prices are proportional to the quality of construction, age, and a variety of other factors. However, you can rest assured that you will be able to save enough money to purchase them. When buying a resale home, you must haggle over the price and try to get a discount.

Conclusion

Buying a house does not have to be tiresome or stressful. Bridl360 is a tech-led real estate portal that uses cutting edge technology to help in your home buying and selling journey!