How Can I Save Money When Buying a Home in Calgary

Posted by Lana Waller on Wednesday, December 12th, 2018 at 10:36am

If you’re like most people shopping for a home in Calgary, you’re probably trying to match a home that fits your needs perfectly, with the lowest possible price. As one of the most expensive purchases you’ll ever make, you stand to save thousands of dollars by following some simple guidelines.

When looking for a home yourself, it’s important to know how previous successful homebuyers have purchased their homes for thousands of dollars below a seller’s asking price. Skills like negotiation are essential, but the fundamentals are often overlooked. This report will cover the following:

  • Steps to saving thousands when you buy a home
  • How sellers price their homes

Going into the home-buying process with some basic knowledge in the area can make all the difference. The following are some simple but often overlooked, points that every homebuyer should take into account.

1.    Be sure about what you want

This seems like a simple point, but many people make the mistake of confusing what they need with what they desire. Obviously, the goal of shopping around is to find a property that fulfils both, but it’s important to know that in the real world this situation doesn’t always occur.

When the purchase price of an item exceeds $10,000, people commonly let emotion and desire play a big role in their decision-making processes. When you’re looking for a home you’ll find that you’re drawn to certain properties for completely different reasons; some based on needs, and other based on desires. Is it better to buy the house with the basement suite for rental possibilities, or the one with more bedrooms to better accommodate a growing family? Many people make the wrong decision at this step and end up regretting their purchase for years.

It’s vital that you satisfy your needs first, and your desires second. Writing down both can aid in the home-buying process.

2.    Shopping with powerful help

You should make sure that your real estate agent offers a buyer profile system to get you all MLS® System listings that meet your exact requirements. Using one of these systems can greatly increase your chances of finding that perfect home as you will be made aware of all existing and new listings that meet your requirements.

3.    Understand how sellers set their asking price

Sellers price their homes in several different categories and it’s important to consult your real estate agent about the price of a property. Keep in mind that roughly 75% of all homes on the market are priced above fair market value, so there is room for negotiation.  This is where having a REALTOR® with great negotiating skills can save you money.  We make sure you don’t pay more than you have to when you are buying a home.

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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.