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How will you get the best possible price on a new home?

By Rikki Cook

Buying a new home is never easy financially. To make it possible, you’ll have to spend years working hard, saving your income and planning to make a deposit you can afford. This is a long, difficult process – and it doesn’t end with the deposit, either. You’ll probably have years of mortgage payments ahead of you after that.

With all of this in mind, it’s crucial to find the best possible price on any real estate you buy. The last thing you want to do is jeopardise the financial health of yourself and your family because you overextended yourself to buy a house you couldn’t afford.

With a little bit of hard work, you can find a house you’re happy with at a price point that’s palatable. Let’s walk through the process of shopping for homes and negotiating the right price for you.

Researching and networking with agents

If you’re really committed to buying a house in Alexandra Hills, the first step in your process should be to conduct thorough market research. According to NSW Fair Trading, it might take a while to get a good feel for the prices you’ll expect to find in each area of the market. You’ll have to spend a lot of time comparing various transactions before you understand where price points are set and what factors influence them.

You’ll probably want to do this research before you go to a real estate agent and look to make a deal. If you’re already knowledgeable about the process before you begin talking with agents, you can shop around and make an informed decision to go with someone who understands the market like you do.

It’s important throughout this process to stay realistic about what prices are out there and how much you should expect to pay. If it sounds like an agent is giving you a pitch that’s too good to be true, that’s probably because it is. The goal is to work with real estate experts who can help you find the honest, reasonably priced deal you’re looking for.

Avoiding common mistakes in negotiation

As you get into the nitty-gritty details of negotiating Surfers Paradise property values, there are a few common mistakes in the process you’ll want to avoid, as Domain.com.au cautioned:

  • Not knowing the market. The easiest way to overspend on a house is to enter the purchasing process without all the details on how much properties should be worth. Informed decision-making is key.
  • Getting overly emotional. You might have fallen in love with a given house or neighbourhood, but chances are, your emotional attachments aren’t worth tens of thousands of dollars. Keep your decision-making process rational at all times.
  • Tipping your hand. You might have a “walk-away price” at which you’re no longer willing to make a deal, but you never want to give that information to the other party. Play your cards close to the vest, and you’ll probably get a better deal.

Get all the professional assistance you need

When it comes time to buy Alexandra Hills real estate, you want to have as many options in front of you as possible. Fortunately, when you work with the Ray White Alexandra Hills Group, you get access to a massive database that will help you find the best possible choice for you.

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