Tips to Finding a Deal When Buying a New Home

| March 29, 2010 More

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There are a lot of home deals on the market now, the problem is real estate is still not a sure bet and if you already own you will probably be stuck trying to sell your current home. But if you’re still ready to buy here are some tips that can help you find the best deals.

Patience

In the past real estate was about acting quickly and getting the deal before anyone else now its about waiting to get the right price and the right property. If you do your research and are willing to wait you can probably find your dream home at a reduced price.

Old Listings

Look for listings that have been on the market for 90 days or more. The rule of thumb is that listings more than 90 days old are stale and you can usually get a better deal. There doesn’t seem to be a correlation between houses on the market longer than 90 days and deeper discounts but the more owners pay that double mortgage the more likely they are to take a discount.

Look for Fixer Uppers

Many people give up on their little DIY projects when they realize their home is losing value, others just don’t care after a while. These homes can typically be bought for deep discounts and the reap the bigger rewards by doing the work yourself.

Creative Commons License photo credit:?quimpg

Category: Real Estate Market

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