How to Know You're Getting a Good Price on a Home

How to Know You’re Getting a Good Price on a Home

When it’s time to purchase a home, most buyers have a top priority on their list, and for many, that’s price. With the state of the housing market continually changing, it can be difficult to know if a home is listed at a fair price. Working with the agents, asking the right questions, and being aware of the current state of the market are vital aspects in purchasing your new home. If you find yourself struggling, consider following the tips below to ensure that you’re getting the best deal possible during your home search.

View Similar Properties on the Market

Pay close attention to similar homes on the market. Make note of their price, size, condition, location, and amenities. After, compare your potential home to the other properties. If you notice similarities in these factors, your potential home could be accurately priced. If not, take a moment to re-evaluate the features of your potential home. If you are noticing differences, it may be time to seek the help of a local real estate agent before continuing your search.

Seeking Help From a Local Agent

Your agent is there to assist you in every step of the home buying process. With their professional experience, agents can help you determine if a property is appropriately priced or what a more accurate price might be. Deciding to work with a local real estate agent is an excellent option for those who are moving to a new area. With their experience and familiarity with the local markets, they’ll be able to help you find your right home at the right price.

Inspection Results

After you’re under contract, it is typical for a home inspection to take place. Here, you’ll be able to see if the property requires upgrades and repairs. Depending on the inspection, the price of the home has the potential to be adjusted.

Ask Yourself if the Price Seems Fair

Are you looking at your dream home? If so, you may consider paying a little over market value. If you’re not overly happy with the property, you may never reach a price that seems fair. If that’s the case, continue your search or express your concerns to your agent and see if they can find another property within your desired budget.

Educate Yourself on Market Conditions

In a seller’s market, you may notice that properties tend to be more expensive. In a buyers market, properties have the potential to be accurately priced, if not a tad under your budget. However, it’s important to remember that properties can always be overpriced, not just during special market conditions.

Making sure you’re getting a fair price on your home can be difficult, but it doesn’t always have to be! Our team of professional, local realtors at Coldwell Banker Carroll Realty are here to help you find your dream home within your desired budget. Our agents work with local markets daily throughout Panama City, Panama City Beach and 30a. Contact a Coldwell Banker Carroll Realty office today to start your search.