Have you always dreamed of a huge spacious home, but feel like this dream will never become a reality because of your tight budget? Although you may not get a sprawling mansion, there are ways you can get a bigger home for less money, all you have to do is follow these tips:
Look for old listings.
Ask your real estate agent to only show you listings that have been sitting on the market for months. The longer a home sits on the market, the more eager the seller will be to make a deal, which means you could snag the home for a smaller price tag if you wait patiently. Of course, if a home has been on the market for a long time, it could be because of issues with the inspection. Be sure to get a professional inspection done before agreeing to purchase any home, but especially one that has been on the market for a long time.
Look in other locations.
Perhaps the reason why you are only finding small homes in your budget is because you are only looking in the trendiest neighborhood in town. If you want to find a bigger home you can actually afford, look slightly outside these trendy areas. You’ll find that even though you are right next door to the up and coming community, there’s a huge price drop if you’re not actually in it. Be willing to compromise on your exact location, and you could be moving into the huge home of your dreams!
Look for bad decorating.
As silly as it sounds, sometimes large homes that are perfectly fine in every other way do not sell because of the previous owner’s decorating. This is why so many agents suggest that sellers should invest in staging their home, however many do not listen to this advice. If you want to find a good deal on a big home, be ready to look past the owner’s taste when you view photos or see the home in person. Be creative and visualize what you would do with the space instead of focusing on an odd table or strange piece of artwork.
Be willing to renovate.
If you’re willing to put a little money into renovating an outdated home, you could find a bigger home than you originally thought. A house can be completely transformed by replacing old, retro-looking appliances or knocking down a wall between bedrooms. Can’t afford a renovation? Luckily, some lenders allow you to estimate the cost of renovations and include this in the loan you take out for the home. However, this is not part of every mortgage, so it’s important that you speak to lenders in your area to see if this is an option before you begin your search.
For more advice on real estate, talk to the pros. Contact our team of real estate experts at Coast 2 Coast Realty who have years of experience working with both buyers and sellers in the Tampa area.