You are looking for a new home, but you are not really certain how to get the best house for your money. There are some tricks to finding the truly good deals at a great price. Once you know these tricks, you may never think about the real estate market in quite the same way again.
Learn How to Calculate Comparables
If you want to make sure the home you are interested in buying is worth the asking price, then the first thing you must do is calculate the comparable for this home. A comparables gives you an idea of how homes of a similar type and having similar features rate by price in the same market. If the comparables turn out to show the home you are interested in is priced too high for the market, this can be a great negotiating point in your favor. If the comparables turn out to be lower than average, this could signal that you have found a great deal, and you might want to take a closer look at such a property.
Using a Realtor
If you do not want to be stuck doing a lot of leg work for yourself, you can get quicker results using a realtor. A professional company can provide expertise and seasoned insight into the surrounding local real estate market. Having a team of savvy real estate experts to help you find the right home can make the process run a whole lot smoother as they help you to zero in on the precise home that is going to fit your purchasing needs.
Think Like a Flipper
An investor who flips homes never buys a home at full retail value. In fact, if you think like a home flipper, you will be looking for houses that may need a little repair that you can talk the price down on, rather than looking to pay top dollar for a new construction. Investors will also get on home investor lists where other flippers are dumping homes for cheaper than retail too. These lists are where some of the best homes and deals reside for the money.
Finding the best homes in today’s real estate market can require a little work and research on your part, but the payoff for doing that work can be huge. Often the best homes for the money are those that you can scoop up for well below the retail value. By working with a quality realtor and probing the investor’s buying lists, you are sure to find a great deal of real estate opportunities that others would never know exist and are available on the open market.
About the Author: Lizzie Weakley is a freelance writer from Columbus, Ohio. She went to college at The Ohio State University where she studied communications. In her free time, she enjoys the outdoors and long walks in the park with her 3-year-old husky Snowball. The information in this article is credited to Re/Max Mountain Realty.