Millennials · Personal Growth · Save Money

4 Awesome Ways to Save Money When Buying Your New Home

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Buying your new home can be an expensive process, from finding the right property to endless viewings; meaning the expense of travel, in addition to legal fees, moving costs and so much more. However, there are some ways to save money when buying your new home, let’s take a closer look.

Find the Right Real Estate Company

Finding the right real estate broker can save you time and money. You can read online reviews to help you find the best one for you. If you work with a Compass agent to find your next property, you could have access to listings that aren’t available anywhere else.

The right real estate agent can make the difference between you finding a deal on the perfect house and not finding anything at all.

One of these could be your dream home, and if you’re looking to move states, you can have a virtual viewing. This will save money on traveling long distances, only to find out the property isn’t what you’re looking for. Because Compass let you narrow down your search criteria, you will only find listings that match this, saving time on reading through listings that don’t match.

Take Note of Any Work the Home Needs

After a virtual viewing, if you think the property might be exactly what you’re looking for, it’s important to view it in person. This will give you more time to inspect the building and notice anything which needs repairing or improving.

Then, you will need to come up with a list and how much this work will cost, so you can decide whether the asking price and the cost of the work will go over your budget. If it will send you over budget, it may not be your dream home after all.

Make an offer

If you still want to buy the property, but it’s over your budget, you could put in a lower offer with an explanation of the work and the costs involved. The owner might be more likely to consider your offer if they agree with the work suggested.

Lower offers are often taken...but it depends on the market.

Alternatively, they may do the work themselves but request the full asking price. Because Compass front the cost of work to their clients, the owner doesn’t have to spend any of their money, and you as the buyer might get a property that matches everything you are looking for.

Removal Costs

When you’ve found your ideal home at a price you can afford, shop around to reduce your removal costs. There can be some differences in prices between removal companies in your current area, and those in the area you’re moving to.

It’s also a good time to have a clear-out. Items you haven’t used in years could be thrown away, donated, or sold. If you’re planning on replacing bulky items in the near future, it might be best to replace them now, then donate or sell the old items instead of paying more to move them with you, only to get rid of them a few months later.

By reducing some of the extra costs, you will have more to spend on your dream home and will be happier living there. You may not need to spend money moving again for a while.

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