How to get the best house for your money in 2019

Posted by Michael Oliver on Monday, December 10th, 2018 at 8:16am

The real estate market has appreciated substantially since 2014. Today, many buyers may think that it is impossible to get a lot of house for their money because of the current conditions, but we will show you how to do exactly that.

 

  1. Buyers looking to maximize their value and get the most house for the money need to look for homes that need a little bit of work/ repairs. The well appointed, up-to-date homes in the market are selling for premium prices currently. If you want to get the most for your money you need to look for those properties that need a little help. Cosmetic improvements that can be completed for a few thousand to your likes could save you up to $10,000 off of your new home. This makes for a great return on investment.

 

  1. Look at some of the older neighborhoods. Older neighborhoods sometimes get forgotten by buyers who might look at one house in that neighborhood and completely write off the entire neighborhood. Finding the best for your money revolves around looking at areas and places other buyers have discounted. A slightly older home in an older mature neighborhood maybe available for far less than a newer home down the road. This provides a lot of value, just be careful to assess the systems of the home when buying. Buying a money pit that looks like a deal could end up costing you a lot more in the first 3 years of ownership.

 

3) Look at homes that have been on the market for over 90 days and have a consistent pattern of price reductions. This is almost a sign telling the market that the seller “really wants to sell”. A properly executed negotiation strategy more than likely will secure a low price for the area/ neighborhood allowing you to pocket the difference.

 

4) Focus on vacant homes. Vacant homes have carrying costs associated with them. Someone somewhere is at a minimum paying the; taxes, insurance, and is liable for any breakdowns while the home is on the market. Just like in tip #3 these sellers are generally simply more motivated to sell. Proper negotiation strategy should yield better than average results on these types of homes.

 

5) Hire an experienced/ high producing Realtor. As a high production Realtor, I know where the deals are and what to look for. When you spend all day every day assessing homes, negotiating deals, and solving housing problems it almost becomes second nature to be able to size up what you can do for a client and if they can get what they want/ need out of the selection available.

 

Even in today’s market, I have personally been negotiating some home sales for buyer clients of $20,000 to almost $50,000 off the asking price of the home! That’s in today’s high prices seller’s market. While I/ we cannot guarantee the same results for you having $100M+ worth of experience allows us to assist clients in ways that can be very beneficial and downright profitable to our clientele.

 

If you would like help finding a great home or discuss what options may be available for you contact us today!

 

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