3 Tips For Saving Money Buying A Home That's Been On The Market For A While

Posted on

When you begin shopping for a home and have found one that's been listed for a long time, it could be tempting to jump on the home right away due to it fitting what you want. While the home may seem initially like a great match, there are several extra things you'll need to take into consideration when you're going to be buying a home that's been on the market for a long time.

Instead of struggling with purchasing the wrong home, consider the following tips to make sure that you purchase a home that's a great fit and will be able to keep the price more reasonable.

Check if the Seller Is Willing to Negotiate

One of the first things you should look into when you've found a home that you like it and have noticed it sitting on the market for a long time is if the seller is willing to negotiate on the price. In many cases, the seller may be willing to reduce the price quite a bit simply because they want the home to sell. Checking if this is an option can help you determine whether you're able to save money buying a home.

Make Sure the Home Is Inspected

When a home has been sitting on the market for a long time, it could be due to there being major problems that you're not aware of and that the seller is hiding. From some of the systems in the home being dated, such as electrical or plumbing, to repairs being needed for the roofing, having an inspection done can help you determine whether the home needs any major work first.

Try to Get Some Extras for the Home

Even if the seller is firm on the price, you may be able to reduce how expensive it is simply through discussing with the seller any extras they can provide. Some sellers are willing to assist with closing costs, which can help make the home more affordable for you and make sure that you're not paying so much out of pocket when closing.

Buying a home that's been listed on the market for a while now can be a great way to make sure that you're comfortable with how expensive the home is and have more freedom to work with the seller. With the above tips, you can bring the cost down even more and make sure that the home suits what you want when buying. Talk to a real estate agent for more information.