วันพฤหัสบดีที่ 15 มีนาคม พ.ศ. 2561

First Time Buyer - How To Buy A Bargain First Property

Everyone likes a bargain but when it comes to property things can be a bit more complicated. A house is the largest purchase you are ever likely to make in your entire life and therefore a lot of emotion and long-term dreams are attached to the property you purchase. It is sometimes hard to let a long-term dream slip through your hands simply because it is a bit more expensive than you hoped and it is this emotional process of thinking that stops so many people getting a bargain property, especially on their first purchase.

It doesn't mean it's impossible though!

There are lots of bargains out there but most of them need to be worked at. The reason that they are bargains is because there is less demand for them than other properties for one reason or another. The most common reason is that they require work.

If you are competent and confident in doing a bit of manual labour or on project running a small renovation project then you can find that purchasing your first property in a need or repair rather than being instantly perfect can be the easiest way to getting a bargain.

The rule of thumb is that for every pound you spend on a property you increase the value by two pounds, meaning that you effectively double your investment. It works the same way around, for every pound of work required that isn't already complete you can expect two pounds off of the asking price.

This means that if you're looking at your first property that needs £20,000 on a new roof you can expect to pay as much as £40,000 less than it is actually worth. That represents a huge bargain but is reflected by the time you will have to put into the property as well as the actual money. So, if you feel comfortable with this then this is by far the best way to get a bargain on your first property.

If, however, the thought of getting your first property and then spending months of hard work doing it up before you actually move in seems a bit daunting to you then don't worry, there are another couple of routes.

The first route is pure negotiation. Get a bargain price in your head and stick to it. Put in enough silly offers on enough properties and eventually someone should say yes. If you're prepared to be flexible on area or certain criteria you will often be surprised at just how much someone will discount their property in order to secure a quick chain-free sale that a first time buyer offers.

Alternatively, if you want to be more specific about what you're getting but still want to take the bargain route then you could do a lot worse than approach local property developers directly. There are plenty of new-build properties that property developers are looking to shift quickly and they will ทาวน์โฮมมือสอง กรุงเทพ often offer some amazing deals constituting genuine bargains in order to sell all their units fast so that they can move on to their next money-making development. You'll often find that with a bit of negotiation property developers will drop their prices from 5% to as much as 20%, will often help pay your deposit or legal fees and will sometimes offer additional freebies such as furniture packs or the option to design the property to your own liking and specifications. There really are some bargains to be had so always check your local developers first before looking elsewhere.


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