How to find an affordable property now

Many prospective buyers are still put off by property prices and interest rates. But the asking price does not have to be the last word. Property seekers still have a good chance of negotiating. This broadens the scope when looking for a property.

There is no guarantee that you will find the property of your dreams that is also affordable. But if you prepare well and approach the search correctly, you can increase your chances of finding an affordable property.

The easiest way

Contact a local quality estate agent. There are several reasons for this. They have a network and may know a seller with a suitable property. If they do not yet have a suitable property in their database, you can create a search request with them. As soon as they have a property that matches your search criteria, they will inform you exclusively.

He is also familiar with the local property market and current developments and knows where affordable properties can be found. He is also experienced in communicating your financing limits to property owners. He will mediate between you and the owner and bring the price expectations of both sides together.

Offensive approach

It is still not easy for many owners to find a buyer. Many are still offering their property at prices that prospective buyers consider unaffordable. It can therefore be worth approaching sellers proactively and making them an offer, even if it is below their asking price.

Who has the better cards in this poker game? That depends very much on the region in question and the demand in that region. In addition, you should not be too brash, as owners may resent overly bold offers and refuse further negotiations.

An experienced property professional can also help here. Not only are they familiar with the local demand situation, but they also know which offers are realistic and in line with the market and how to deal with owners so as not to scare them away.

Market analysis

If you want to proceed on your own initiative, you need to monitor the market regularly, follow developments and analyse them precisely in order to find out where market opportunities arise. However, flexibility is required when it comes to buying. After all, you first have to know the market in order to recognise a buying opportunity.

Utilise subsidies

An existing property in an unfavourable state of renovation can also be an opportunity. The price for this is low. And you can apply for state subsidies for the upcoming refurbishment measures. Seek advice on this from a property professional and an independent expert on subsidies. A local quality estate agent can recommend one to you. If you take a clever approach and calculate wisely, you have a good chance of finding a bargain.

Would you like help with your property search? Get in touch with us! We will be happy to advise you.

Notes

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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