Whether you are a real estate buyer or a seller, you’ll need to consider down payment, home repairs, staging costs, inspection fees, and other expenses involved in a real estate transaction.
It’s important, therefore, to know effective ways to save money.
Buyers: Get multiple loan quotes
Since interest rates vary from one lender to the next, it pays to shop for multiple loan quotes. Doing so will allow you to compare different offers and mortgage terms.
Sellers: Handle basic staging tasks yourself
While professional home stagers can prepare your house to appeal to the most number of potential home buyers, you can save money by doing it yourself. Create a strong impression that can get your home sold as quickly as possible.
Here’s how to get this done while keeping a tight budget:
- Clear the clutter. Get rid of worn-out furniture and keep personal items like books and photos out of sight. A home free from clutter and personal mementoes allows buyers to imagine fixing up your home to their taste.
- Clean your home. Prioritize areas where buyers are typically most interested in, which are the kitchen and bathrooms.
Get basic repairs done.
Both: Work with a real estate professional
There is a reason 89% of buyers and 67% of sellers in 2018 would recommend their agent.
Working alone can lead to mistakes, which wastes time, energy, and money. You can avoid all of that by hiring an experienced real estate agent.
By working with an agent, buyers can zero in on the best listings that match their needs and preferences, while falling within their price range.
For sellers, real estate agents know the best way to market their homes and negotiate for the best possible price on their property.
Both: Time your transactions thoughtfully
When you are buying, ask your agent to let you know when prices are low and/or when sellers are most willing or motivated to negotiate.
Aim to do so at the start of the year, when home prices tend to be at their lowest levels. Around January and February, you can find listings that have been on the market for about three months or so. You have more wiggle room to negotiate a lower price because the property has been on the market for such a long time.
For sellers, time your listing to get the most exposure for the home you want to sell. Homes sell the fastest around April to August so target these months to unload your property quickly.
SET Real Estate Group helps you achieve your real estate goals
From helping buyers score the best deals on the market, to guiding Atlanta home owners toward a rewarding home sale, SET Real Estate Group offers the best professional real estate services. Call us today at 404-348-2373 or email info(at)setrealestategroup(dotted)com.