5 tips to get a really great 'home deal' this summer

5 tips to get a really great 'home deal' this summer

Summer is generally a great time to buy a new home and this year is no exception, as there are plenty of properties to pick, serious sellers are willing to negotiate and the banks are eager to approve new home loans.

However you stand to get even more out of the summer housing market if you follow these tips:

1. Pick a good location

Take the time to research locations that are not only safe and secure but would fit your lifestyle and offer the kind of amenities that are important to you. It's tempting to focus on price, but the most inexpensive home is going to be a bad buy if you have a family and there are no schools in the area.

2. Get pre-qualified for a home loan

You should ask a reputable bond originator  to help you obtain a home loan pre-qualification before you start your home search.

You will then know what you qualify for and will then be able to concentrate on properties that are within your budget.

Any offer to buy you make will also be better received because the seller can see that you are a serious buyer who will be able to obtain a loan and close the deal.

3. Consider a fixer-upper

A tried-and-tested way of buying into a more upmarket area than your budget might suggest is to seek out an older property that is in need of upgrading and modernisation.

However, you need to be sure that the changes needed are only cosmetic and not structural.

4. Look out for listings that say 'price reduced'

Some property websites will also show you how long a home has been on the market and whether the price has been reduced more than once.

This will tell you that the owners are really serious about selling and will probably be willing to negotiate an even better deal, especially if they have a deadline on moving.

5. Make your best offer

Even though the market favours buyers at the moment, sellers can still be offended by a really low offer and can refuse to negotiate with you, especially if they have done the same market research as you and their property is actually well priced.