“More People Keen on Home Ownership Amid Pandemic”

The Top 5 Tips in Negotiating for Your New Property

Indians love to bargain. A shopping trip for an Indian consumer isn’t successful unless s/he manages to attain something at a ‘negotiated’ price from the seller. And the same applies to Indian homebuyers. If you have zeroed down on your dream house here are some tips to help every aspiring home owner get the best bang for her/his buck:

Study the pricing

Get an idea of the average selling price of a property situated in a locality of your interest.

A dealer will be able to help you understand the opportunities for discount and pricing trends in a much better manner.

Additionally, if you are thinking about buying a house from a developer, then it’s advisable to compare the launch price with the dealer’s current asking price. This will help you understand the number you should be aiming for.

Understand inventory

If you are interested in buying a home in a builder’s development, understanding a project’s inventory could really work in your favour.

If a builder has multiple unsold units lying in the market for a long period of time then this situation is most likely to work in your favour as s/he’d be more than delighted to strike a deal with you at a discounted price.

Be clear about your intentions

While the holy rule of bargaining is to abstain from expressing interest in anything you are remotely interested in, as between a buyer and the seller, the one to communicate first supposedly will be at a disadvantage. However, it works the other way with sellers in the real estate market.

Displaying clear interest in buying a property will term you as a serious buyer in the seller’s eye and s/he is bound to offer you a better price than those who pretend to be just ‘window shopping’.

Barter the fluff

In order to make a deal seem attractive, sellers have started pairing a property purchase with ‘gifts’ like gold coins, international trips, cars, and modular kitchens, among other such things.

If you feel like these freebies lack any real value then tell the seller that you’d be more likely to go ahead with the deal if s/he were to replace these with a discount on the property.

Use professional help

In real estate, it pays to ask and to know. Speak to real estate professionals who might be able to give you better insights into the property. Not only will they be able to guide you in the best manner possible about the market and pricing trends, many real estate professionals are skilled negotiators and can help get you avail discounts without breaking into a sweat.

Once you have completed your research having employed resources from both the real and the virtual worlds, don’t be afraid to try and test your negotiating skills in the market. You never know when you might hit the jackpot.

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