Negotiating to buy your dream home is very much the same as negotiating to buy your next car. The only real differences are the number of zeros on the end of each figure and the length of time it takes to go from ‘a deal’ to actually buying it!
The best negotiators do three things. They decide what they are prepared to pay. They consider the mindset of the other side in the negotiation and they set parameters which, if not achieved, will result in them walking away. Without a belief that you can take or leave a particular deal, you aren’t negotiating, you’re just delaying the inevitable.
Of course, buying your dream home means, by definition, that your heart is driving this at least as much as your head. You need to suppress your desires and keep a cool head. Don’t allow the day dreams and wishes to cloud your judgement.
Buying a home is probably the largest expenditure most people make in their lifetimes. It’s critical, therefore, to negotiate well. So remember, prepare for the task at hand. Get your mortgage and funds in place and don’t be afraid to walk away if the deal doesn’t stack up.
Yesterday
Equity release is a type of mortgage that allows homeowners 55 and over to access money from their property's equity without having to leave their home. This is done by securing a loan against the house which is usually repaid by selling the property when the borrower passes away or has to move into long-term care.
2 days ago
It’s important to ask questions about the property you are interested in before taking that step to make an offer. A little probing can make all the difference between buying your dream house or something that requires a lot of work.
5 days ago
There are millions of homeowners over the age of 60 who are likely to release money from their homes to pay for their lifestyle during retirement giving those who are 'asset rich but cash poor' a way to live out their retirement the way they wish.
12 days ago
The average age of a first-time buyer in the UK is two years older than 10 years ago. This is understandable with managing the cost-of-living and challenges within the economy such as high interest rates making it difficult to get onto the property ladder.
14 days ago
Skipton Building Society launches ‘Delayed Start’ mortgage meaning first time buyers won’t be required to make repayments for the first three months.
According to a survey by Skipton, first time buyers who bought their home in the last five years found that in the first three months of living there, they were spending upwards of £30,000.
19 days ago
If you have recently moved into a property with a garden that requires a little TLC, or you’d like to get on top of your current green space, check out our tips.
22 days ago
High street lender, NatWest, have launched a new product to help first-time buyers purchase a property with assistance from a family member or friend to get them on the property ladder sooner.
23 days ago
‘Buy Now, Pay Later’ (BNPL) schemes, such as ‘Klarna’ are short-term loans that allow shoppers to make a purchase, but delay paying for it for an agreed amount of time.
Klarna is one of the most popular BNPL services with 18 million customers in the UK alone, and offers interest-free payment options which is appealing to shoppers. However, does it affect a mortgage application?