Top 5 Tips in Negotiating for Your New Property
Negotiating is a part of living and we all do it all the time. It is an art that everybody must know and learn. So that, it will help you in every step of your life especially when you go for any type of shopping it will help you a lot.
Negotiation is also used in property buying; by negotiating you can buy your dream property within your target budget. Successful investors always negotiate before purchasing property; they well-know about the property and then use their skills.
When it comes to negotiation, you need to be involved but not too much. It’s like the game and you must have to understand the rule. In this rule, you can’t make a decision emotionally otherwise you will lose your perspective.
Mentioned below are the top 5 tips that you should follow before negotiating a property
As you know that everything is negotiable and there are a few tricks used. Similarly, in the property market too you can negotiate, only you have to keep in mind all these points.
Do research on current pricing
This would help you too much and give a general idea about the current price and that will make your next step easy. Do a research on the current price trend and also get an idea about the locality and that will tell a lot about the current property trend as well as price trend in that area.
Furthermore, if you are planning to buy a home from a reputed builder then can’t skip this point instead you’ve to grab a good knowledge of it. Then only you can make a decision with the property.
Understand inventory
If you are interested in buying home from reputed developers then always understand the project inventory before taking any decision. If the property where you’ve very much interested in has multiple unsold units then the situation will mostly work in your favor. The chances are you will get discounted price while purchasing a home.
Make your intentions more clear
This is one of the golden rules of negotiation; abstain from expressing interest in anything you are interested in. When you communicate keep focused on the reason you are discussing with the sellers, agents or broker. Professionals are quite aware of it whether the buyer is interested or not in the property.
So displaying clear interest in buying property will term you as a serious buyer in the seller’s eye and they would bound to offer you a better price than those who pretend to be just window shopping.
Barter the fluff
To make the deal seem attractive, sellers plays a trick here by pairing the property with “gifts” like gold coins, international trips and other such things.
If you feel like these freebies lack any real value then tell the seller to replace these with a discount on the property (If Possible). Certainly, this is another trick to negotiate on home buying.
Take a professional guidance
While purchasing a property it is advisable to always seek the advice of a professional. Speaking to a real estate professional may guide you in better insight about the property you are interested in. Furthermore, they keep the current data on pricing trends, also they can advise you regarding GST, and other charges generally include in a property. Also, they can advise regarding home loans and banks' interest rates for the property they are handling. Many real estate professionals are skilled negotiators and can help you get to avail discounts without.
Conclusion
Once you’ve done your research, don’t be afraid to try and test your negotiating skills in the market. You never know when you might hit the jackpot. DLF One Midtown is the fresh residential launch in Delhi housing market by the famous DLF; surely the property would introduce attractive offers and gifts to the home buyers. Use this opportunity and get home from a reputed developer for a lifetime.