The Right Property at an Affordable Price – It’s Not a Myth

So you’ve found your perfect home, but it’s in need of a little TLC. While others may see this as a deterrent, this is actually a great opportunity to purchase your ideal home at a price that’s within your means. Believe it or not, there are ways to tactfully negotiate the cost without ruining your chances of securing the property.

Tip #1: Never enter a negotiation empty-handed

Whether it’s hiring inspectors for a building and pest reports, or obtaining quotes from tradespeople, obtaining facts and figures will give you ammunition when requesting a price reduction.

Even if it does cost you extra, it’s worthwhile getting all the right information before making your offer.

Tip #2: Separate your emotions

The most tactful way to negotiate is to eliminate all emotions. It’s important to separate yourself from the outcome and present your side logically. The owner is under no obligation to accept what you offer, but if you remain positive this will position your argument in a favorable light.

Tip #3: Remember this is someone else’s house

Negotiation is a two-way street, so in order to come to an agreement, concessions will have to be made on both sides. It’s important to understand what’s important to the owner and what you can offer to counteract the price reduction you are after. It just takes a little enticement, such as a longer settlement period so they can find a new home for example, that can be valuable.

Tip #4: If you don’t ask, the answer is always going to be no

If you need certain fixtures included in the sale price, extra inspection requests and any other needs along those lines, you will not know what the owners are happy to provide unless you voice your desires. It’s all about thinking what’s important to you as realistically, the owners are unlikely to accommodate for everything on your list of requests.

A house that requires a bit of repair work is a great bargaining tool and generally an opportunity to secure a good price. Let us help you get closer to securing your ideal home by calling us on (02) 9614 0888 or Email Us.

Licensing statement: Credit Representative 488658 is authorised under Australian Credit Licence 389328.

Disclaimer: This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.