It is a dream of every individual to buy a well furnished luxurious home with a calm neighbourhood. To fulfil the dream to have a house we work hard day and night, put 100% efforts and earn money and save them, sacrificing our wish to buy fancy clothes, dinners at five-star restaurants.
Real estate development
Real estate development is building housing facilities. Buying and selling of raw land or constructed buildings and after renovating them or building houses to sell them to the clients. It is a business process keeping profit earning as the primary agenda. Now there is a basic difference between developer and builder. The builder is the middle man but the person investing money into the construction of the building is a developer.
Tips to negotiate on housing prices
If you are fond of negotiating prices while purchasing small items like the vegetable from the vendor and you are good at it, then you are almost there because the basics to bargaining for small and big things are the same.
-
Research
The foremost step to buy or negotiate on real estate is that you do all the necessary research on the property. And you are convinced that it is a reliable product to invest your money into and talk to the builder accordingly. This will reduce the chances of him fooling you into false promises and fake prices and increases the possibility of you to not pay an amount more than its worth.
-
Do not go to brokers or middlemen
The middle man is a person who arranges meetings between the developer and the customer as the demanding of the client to earn profit from the developer. And to satisfy his pocket the developers cut your pocket by giving you deals higher than the actual prices.
-
Avoid proposing your offer first
Let the developer speak first and you wait for your change after he has proposed his deal. Doing this will give you an upper hand to lower the negotiable amount. For example; if the developer proposes $200 you have a chance to pull it up to $100, but if you speak first $100 can go up to $150. Hence, it is better to let the other party speak.
-
Collect information
Information is a power, before the purchase of real estate you should always have information like the reason for selling, the surrounding, all the facilities available in the surrounding area, the market price of the property, in what prices have people bought houses in the neighborhood, etc. All this information gives you the power to talk smartly and enhances your chance to crack you a profitable deal out of it.
-
Ask questions
It is very important that the developers believe that the client is genuine and he wants to buy the house and to do that you have to ask more and more questions and communicate with the developer. So that, the developer also considers and come with some concession on his own.
-
Do not delay
Stretching the deal for a long time can end up into an end of the deal. So, it is suggested to avoid long gaps and a quick decision making if you are convinced to buy the property because the developer will not wait long until he finds other customers.
Happy Living!
Be the first to comment