ADDRESS

8915 S Keystone Ave Ste C
Indianapolis, IN 46227

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317-657-8059

Home buying tips- how to get more bang for your buck while searching for houses.

This weeks article will be a short one, but it is certain to be useful if you are looking for a new home.

Its just one simple tip.

When you are buying a home, always be sure to search just above the “typical” search lines. You know what I mean. People love order, so even when they get approved to buy a house for … lets just say $156,000, they tend to search for homes priced from $125,000-$150,000 or maybe $100,000 to $150,000. Which ever it is, they very seldom look to that slightly higher $156,000 or even $165,000.

And it is nothing more than just imposing order. people love nice square edges and nice round numbers.

As a result, they miss out on houses that they could reasonably expect to buy in their range…but the seller hasn’t realized it yet, so they haven’t dropped into that search zone.

The reason I used this specific range is because it seems to me that this is the area where this happens the most….at least in Indianapolis where amazing homes are available at these prices. Listing after listing I see for homes that are not quite good enough to list for $175,000 but are in that class…but the seller doesn’t want to sell them for less than the $160,000 range, list around $160,000 and sit on the market. And sit. And sit some more. Then finally when the listing is stale the seller will list the home closer and closer to $150,000 until finally they cross that line. then the house sells.

As a buyer, being aware of those psychological lines can expose you to more available homes that can be negotiated into your price range (or even if they can’t the difference between $160,000 and $150,000 is roughly $45 per month on a 30 year mortgage at current market rates).

What lines are they? Here are the one I notice in Indianapolis home searches the most frequently.

$100,000

$125,000

$150,000

$200,000

$250,000

So watch out for them, take a peak above…and remember that everything is negotiable.

If you would rather just have a professional real estate agent do the house hunting for you, give me a call at 317-657-8059 or shoot an email over to robb@yourrealtylink.com to set a  home buying consultation.

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