Bengaluru, November 27, 2015
Summary
Home Buying is no more daunting these days as lot of information is available around. It’s like – the more you know about the process, the more money, hassle and time you save regardless of the current market happening.
Introduction
In many countries, it’s a seller’s market.While it’s great to be a seller in the real estate market, it is tough to be a buyer. It doesn’t however mean there isn’t any house for you to buy; it implies that your purchasing strategies must change in order to reflect the current market trend.
If you are looking to make a home purchase, be ityour dream home or just an investment; don’t allow a seller scare you. While buying a real estate property greatly depends on the individual’s situation, you can always do your homework to make it your best purchase!
So, if you’re in the market to buy a home, certainly you can proceed! Just be conscious of the key elements of smart home purchasing tactics in real estate world.
Have a look.
1. Pre-Check Your Credit
Home Buying is all a game of money. Hence, check your credit balance before you even start searching a home, probably 12 months early. Your decision will greatly depend on your credits. By checking your credit at an early stage, you not only ensure any loopholes that can lower your score, but will also help in increase your credit score throughout the process.
2. Get Pre-approved
A pre-approval by a lender is a must when it comes to buying home. This will confirm your extent to spend on a home you want to buy and also excludes a big step in this process. In addition, a preapproval attracts the sellers asthey believe you are ready and serious about the purchase.
3. Stick to your Budget
Gone are the days of making a lower proposal on a home and winning a deal. These days, the property prices are literally very high, plusyou’ll find multiple offers on homes. There may be huge possibilities to pay above your budget in form of various direct-indirect costs. Hence, don’t waste your time and energy making any offer only to realize you don’t have the finances to outspend another purchaser.
4. Look for Potential
Believing that you’d find your perfect home within your budget is little uncertain today. This is particularly the case in a seller’s market. However, with this we not at all means that you may have to compromise with a home you don’t like, but it means you may have to overlook some small issues, such as old wallpaper,stained carpet, loose door knobs, etc. Instead, focusing on having a good and safe neighborhood and a solid foundation will be much more significant.
5. Be Prepared to Move
In the real estate industry, selling-buying is a very quick process. Properties are sold quickly. Moreover, in competitive neighborhoods, homes are sold within the first few days of registration. Hence, as you find a suitable home, talk with your realtor to make some offer.
6. Make a Competitive Offer
Be smart enough when making offers. G et an idea of what neighboring homes just sold for before submitting an offer. Ask your realtor to give you an estimate of the home’s true worth. And then make a competitive offer. Remember, bidding too low can probably lower a seller’sinterest; they could just say “no.” On the contrary, there is a good chance if you are at or above listing price. So, keep this in mind when making an offer.
The bottom line is that by being prepared and strategizing the process ahead of time, dwellers can navigate the seller’s market confidently!
Author Bio: The article is contributed by Rahul Bedi who is a blogger and editor at Savitry Greens which is a venture of NK Sharma Group. NK Sharma Group is one of the leading real estate developers in Zirakpur near Chandigarh. Rahul also a featured blogger at Huffington post a famous news portal and you can review his profile here. You can follow them on Facebook to get more updates
Corporate Comm India(CCI Newswire)
