Getting the best price for anything in life is a good way to ensure that you have the spare money to do the things that you want to do. When buying a house, this haggling takes a more organised form. Negotiating on the price of a house really is commonplace, unlike haggling for supermarket food, which some TV personalities try to push.
Saving thousands of pounds, can make the difference between your dream home and your nearly perfect house with that 1980’s décor that you loathe. But watch out for Gazumping an offer accepted does not mean that the seller isn’t still on the hunt for a higher price, ask them to take the property off of the market once they have accepted.
Countrywide mortgage brokers estimated that there were around 12 buyers for every property in the first quarter of 2014. Whilst this number is set to reduce for 2015, the buyers’ market leads to less wiggle room for price negotiation especially in high demands areas such as South-East England. This means that when it comes to negotiating there are a few things to bear in mind to ensure that you come away with the best possible value-for-money:
Firstly, you do not want to let your heart rule your head. It is so tempting to mentally move in before you have even put an offer on the table, but this can cloud your judgement about the cost of any renovation works that need to be carried out. Therefore, it is always best to get a third party such as a trusted friend to come with you to the viewings and analyse the property too.
Nick Marr, property expert, says: “never get carried away with how much you like the house that can come later. This is the serious part, take into account renovations, moving costs and stamp duty before making a sensible offer.”