By startingpoint April 10, 2014

You’ve set out to purchase a home, but are still concerned with saving some money. Starting Point Real Estate has compiled a few tips to help you buy your dream house on a budget.

  1. Consider purchasing a “Fixer Upper.” This may seem like common sense, but many avoid purchasing a home that needs work because they do not have the skills to do the work themselves. With today’s economy, many construction companies and “handy men” are making it more affordable than ever to make home renovations a reality.
  2. Don’t be afraid to negotiate. Prepare yourself for a lengthy home search and hold out for the best possible deal. Often, people are rushed to make a decision and therefore they spend more money than necessary and take less time negotiating. Be firm on your offer, and if it’s not accepted don’t be afraid to move on to another property.
  3. When looking online for homes, be sure to sort “Lowest to Highest” in cost before you start your search. This way, you’re seeing the most affordable homes first, and you don’t get deterred by seeing very expensive homes before you get to your price point.
  4. Make plenty of offers- by submitting plenty of offers, on a wide range of homes, you increase the likelihood of having a cheaper offer accepted.
  5. Keep a look out for “For Sale by Owners.” Often when people choose to sell their homes themselves, they are looking to save money, or move quickly. This leaves more bargaining room for you- and they may be less experienced with negotiations than an experienced realtor, which also gives your budget a bit more wiggle room.

There are countless ways to save money when looking for your next home. At Starting Point Real Estate, we’re always on the lookout for affordable homes, and real estate deals- if you find a property you think we’d be interested in- share it with us and you will earn a referral fee of $500-$1000 cash!  Purchasing a cheaper home does not necessarily mean lowered quality and losing some of your “wants.” If you widen your search and give yourself plenty of time for negotiating we’re confident you can find everything you want in a house, while staying well within the confines of your budget. Starting Point Real Estate works with home buyers on budgets, follow our blog to stay up to date with insider information on purchasing real estate in the St. Louis area and beyond.