Buyers often tend to fall for the first impression of a home and are ready to pay whatever the seller demands ignoring careful consideration of the price and the affected factors.
Here are some tips to avoid paying too much for a new home.
• Do a thorough research – An extensive house hunting should be done well in advance and to check out several options without finalizing an over-priced one at the last moment.
• Do be emotional with the purchase – As the home is a concept that is an emotional affair, many make decisions emotionally without considering factors like the budget.
• Learn about the price trend – Visit a house only after learning about its price beforehand. If it exceeds the budget, it is best to avoid visiting it and falling for the unreasonable price.
• Work with an agent – A real estate agent will help analyze the true value of the property and will negotiate the price accordingly avoiding an overpriced deal.
• Be ready to walk away – Do not display an over-enthusiasm to a seller so that he may believe that one will buy the property even without a negotiation.
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