As a first time home buyer who does not have in-depth knowledge in matters regarding real estate it is very tricky,challenging to buy an home at the best reasonable price. Real estate industry is so competitive and there are many home builders which most of them are focussed to squeeze your pockets.It is so hard to negotiate with an home builder of an house they are selling since but are only focussed in sticking to their initial high price.
For an home builder to lower the price and us as a buyer to get the best deals ,Here are my best tips on how to bargain with home builders:
- Although it can cost slightly it is very advisable to hire a local or your own real estate agent that is honest and trustworthy, agents have been in the real estate industry for long as compared to us.They are very experienced and have directly dealt with many home builders and so they can fight so that you get the best deal for us and probably get more clients in future.
- Before you start to talk to an home builder directly ,do research so that you can know the current market real estate trends ,home builders sell according to cycles like end month and end year prices of home are relatively lower .Going to them at these times can give your some better bargaining power.
- How to pay plays a crucial role too,home builders tend to favor those buyers that have better assured payment options .Therefore go to an home builder when you have secured financing or instant cash that will be tempting to them and they will definitely lower their price.
- Avoid attaching too many conditions to your offer ,instead buy an home and custom design it yourself.
- Although you are new in real estate ,try to be conversant with at least the roughly cost of building an house yourself so that plus profit the home builder expects to draw you will know the estimate minimum and maximum that the house can be bought at.