First Home Buyer Tip: Play Hard To Get
Finding a house which ticks all your boxes can take time - but maybe one day you’ll come across one that seems too good to be true.
You’re over the moon! You’ve already seen a mortgage broker to check your borrowing capacity so you know you have room to go a bit higher than what they are asking - just as well because you’ve decided you absolutely must have this place.
Well stop right there! You’ve made a classic and all too human mistake - you’ve got a crush.
When you become emotionally attached to a house you intend to buy, you lose your power to effectively negotiate and the perspective needed to make a good decision.
Why? Because falling in love with a house can blind you to its flaws and lead you to make financial commitments you hadn’t planned for - such as a higher purchase price or an inconvenient settlement date.
After the hard work of saving and positioning yourself to afford a home, the last thing you want to do is throw yourself in the deep end by accepting unfavourable terms just because your emotions intervened.
Instead, negotiations should be like flirting - it’s all about playing hard to get!
Remember - even if you fall head over heels for a place, keep your poker face on when dealing with the vendor.
To get more detailed information on your situation, talk to a Loan Market mortgage broker today.