11 Tips To Buy Cheap House

Posted by Vladmir Garvin on September-16-2012 under Save Money

Here are 11 Tips To Buy Cheap House. Buying a new house is an investment that cost a lot of money. There are things people normally learn after buying their houses that leaves them wishing they had used them before buying their houses so they could save some money. Here are 10 expert tips that will see you buy your house for cheap.

  1. Shop around: There are usually many houses on market that you can choose from. There prices are also often different. You should therefore take time to shop around and compare different houses and their facilities. You should get proper surveys done on the type of house you want to buy. You can as well obtain a homebuyers report all in a bid to buy the perfect house at a cheaper price. You will also spend some money on the surveys but the results are worthwhile. In the long rand, you will be able to buy a house at its best price.
  2. Consider shopping for foreclosures: Foreclosures are also best ways to get cheap houses. Banks and other financial institutions normally organize for foreclosures auctions where you can buy a good house at very cheap prices. Some banks would want you to send an application. Be ready to go all the way and buy a cheap house.
  3. Use the services of mortgage advisors: Mortgage advisors are very helpful more so if you have little or no knowledge on mortgages and home selling. Seeking advice from the mortgage advisors will as well help you get all the information you need before finalizing your purchase transactions. Consumers are advised to seek expert advice before buying new homes if at all they want to save money.
  4. Consider shared ownership: Shared home ownerships are always helpful in getting cheap houses. They are always government backed or supported by an institution that aims at improving residential areas. Most of shared ownership schemes are normally directed at certain groups of workers or people with income amounts of certain range. They are always very advantageous in getting cheap houses.
  5. Stay within your home buying budget: Always make good budgets if you want to buy cheap houses. Your budgets should be able to portray the amount of money you are willing to spend on the house. You should also stick to the made budget and avoid spending outside it. This will help you buy a good house using a restricted budget thus enabling you get cheaper houses.
  6. Consider local grants: Local grants are always money savers when buying new houses. Be on the lookout for local grants in your local area and use them to buy new houses. You should check with your local authorities, banks and other local institutions for such grants. There could be a grant by the government to provide cheap housing for average citizens. Such local grants are what will help you save money when buying your house.
  7. Look for online deals: There are nowadays various online deals that target new house buyers and sellers. Consider shopping online for such house deals. There are nowadays many websites as well which offer deals to people who are looking forward to buy new houses. You can use these websites to grab the best deals available and save money on your house purchase.
  8. Consider going for short sales: Banks usually have short sales whereby they can sell you a house for a cheaper price, a house whose initial owner may still have some rights on.
  9. Consider the type of neighborhood: You should be clear as to where you want to live in. there are certain neighborhoods where houses are basically more expensive than in other areas. Most urban residential areas, for instance, have inflated house prices as there is high demand for houses in such areas. There are beautiful and secure areas with cheaper house prices out there, you only need to look around. Those are the areas you should consider buying a house in for a chance to get a good house for cheap.
  10. Plan ahead: Planning ahead is very crucial to buying a cheap house as there are many home lenders who can mislead you and make you spend more money on a house. Make good budgets and always stay within the budget. Avoid going for houses that burst your budget. You should make sure that your budget covers all the financial implications involved with buying a house. These might include the Stamp Duty Land Tax, legal fees and even mortgage payment protection fees. Also, check out our post on tips to buy cheap diamonds.
  11. Know your sellers: When going for a home, consider knowing more about the seller. Build a good relationship with them. Remember, you are buying a house from them; a house they know best and prices they have the ability to change. Get each other’s contacts and keep in touch. Let them keep you updated on the house and the transaction procedures. This way, you will be able to save some money, ranging from frequent transport fees to the cost of the house.

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