5 Ways to Save On Your Next Home Purchase – Buying a new home is always a stressful task. It is unavoidable. The IRS checks, credit checks, inspectors, and mortgage loan payments are all necessary but daunting activities. Arguably the most strenuous of all is the payment plan and gathering the required funds to make a suitable payment.
Apart from getting a good deal on the price of the house, there are other ways to save you a couple of bucks whilst buying a house and in this article, we are going to discuss 5 ways that you can do this:
Find a house that requires some work
This method doesn’t fly with a lot of people who want to have their own homes. It is a shared belief by most that if you want to purchase a house it has to be spanking new, but these houses usually come with a hefty selling price. Some homes just need some attention and care to become the house of your dreams.
Finding that gem which needs a little bit of fixing, added lightings and fixtures and most probably a paint job will save your hard-earned money and could even be a worthwhile experience.
Purchase a home in the winter
Every realtor or real estate investor worth their salt knows that the price of houses and property, in general, is relative to the time of the year. Seasons have a dictating effect on the housing market, for example; people usually buy houses in the summer and spring so prices tend to go up, but these prices drop lower in the winter months, where the difference could be in the ten thousands. So waiting to buy in the winter could potentially save you a lot of money.
Employ a local real estate agent
If you intend to get the best deal and home possible, it is impossible to keep a real estate agent out of the conversation. Getting an experienced realtor who is also a local in the area is a double bonus for you as you will get offers of hidden gems at surprising prices and the best thing is you don’t have to pay them. All expenses are handled by the seller, so employing a realtor should be a no brainer.
Increase your credit score for your Home Purchase
Credit scores are the master key to getting the best loan offers. The higher your credit score is, the less expensive your loan will be and vice versa. You can boost your credit score by; not applying for new loans for things like cars, credit cards, etc. Before you apply for a mortgage and also keep your credit card balance lower than 15% of your credit limit.
Get the right Mortgage loan for you
There are several mortgage loan offers out there ranging from VA loans for army veterans and USDA loans for houses in rural areas, which have great benefits like no down payments. Some payments can save you hundreds to thousands of dollars annually while others can do just the opposite. So, it is best to know what circumstances you are in and what exactly you are looking for.
Saving money whilst buying a house is not rocket science, it just takes a level head and realistic expectations. Make sure that you take inventory of your finances and inner desires before you leap into purchasing a new home. Good luck!
PMD Realty Group has been providing professional home buyer and seller real estate representation since 2013. Our company values are service, honesty, integrity and work ethic. We always strive to exceed our client’s expectations. give us a call at 602.399.9233 if we can be of service in Goodyear, Litchfield Park, Buckeye, Avondale, Sun City, Surprise, Peoria and Glendale in the Phoenix West Valley.
We list and sell homes, property and real estate throughout the Phoenix Valley including: Phoenix, Scottsdale, Palm Valley, Pebble Creek, Wigwam, Verrado, Estrella Mountain Ranch, Tempe, Mesa, Cave Creek, Carefree, Chandler, Apache Junction, Gold Canyon, Maricopa, Gilbert & Maricopa County.