Monday, 24 October 2011

How To Save Money When Buying A Home

By Beth Swanson


Buying a home involves finding the right house with the right price. There are five basic ways to be able to buy a home for less. Here are three of them.

First: Buy In Inexpensive Areas

There are inexpensive towns that you would want to live in. In fact, there are still towns in this country where you can see a good movie, put the kids in a good school, go shopping, enjoy nearby natural beauty, and buy homes for under fifty thousand dollars. For example, some years back, someone had bought a pretty home complete with hardwood floors, full carpeted basement, and a garage in a mountain town for $17,500. There are still homes that cost less than $35,000 there.

What you can't find easily there, is a good job. Towns with cheaper homes usually have bad job situations. But it's good for you if you don't have a business or profession that's location dependent, or if you want to retire. Writers and internet entrepreneurs are beginning to discover them.

This may not work for you, of course. If you already have determined where you will be living, or if you need a town with high-paying jobs, try the following ways to save money.

Second: Buy Cheaper Houses

You can find a home that is cheaper but still meets your needs. This can involve buying in the inexpensive parts of town or buying inexpensive types of houses. Don't set your mind on one type of home or one neighbourhood before you know what all the alternatives are.

But this doesn't mean buying a cheap dump or buying a house in a dangerous part of town. It is more about a philosophy of defining your true needs so you can find the least expensive way to meet them. You might be surprised at how many options you have.

Secret #3: Negotiate The Price

Negotiating techniques go a long way no matter what you're buying. You'll find easy-to-learn techniques in any good book on negotiating. What's a few minutes of reading and a few hours of practice when you can save thousands of dollars?

Expert negotiators actually use simple negotiating techniques. They are used in all areas of business and real estate. But you don't need to be an expert to knock a few thousand off the price of a house. In fact, a little knowledge goes a long way in home buying.




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