How to hack the housing market
Want to save money when purchasing or selling a home? Read on for tips on How to hack the housing market.
With the cost of living crisis still looming and interest rates making mortgages prohibitively expensive for many people, we thought we’d look today at some of the ways that you can hack the housing market and save money when you’re buying or selling a home.
Some might only save you a little bit of money, others might make a more significant difference, but when you’re dealing with such a huge transaction, anything that you can save is going to help!
Do your own styling
Did you know that there are people who style homes for sale as a job? It’s actually a brilliant skill to have, as styling your house in the right way can make a big difference to the price you get for it. Take some time to learn some basic styling tips and style your home yourself and you could not only save the fee of a professional but you could secure a higher price too.
Take your own photographs
Well-lit, professional-looking photos can have a big impact on the number of viewings you secure, but some estate agents will charge you extra for a professional photoshoot. Taking your own photos could save you some cash here, but only if you do a good job. Watch YouTube tutorials or even sign up for a local evening class – you could find yourself a new hobby into the bargain!
Avoid estate agent fees
The percentage that you lose to estate agents fees will vary, but the more expensive your home, the larger the amount of cash you’re likely to be handing over. Think about other ways to do it and you could get to keep more money in your pocket. Selling and marketing your property yourself is one way to avoid the fees and sell your house for free.
Use a mortgage broker
While it’s possible to research and compare mortgage deals yourself, you’ll usually find that you get a better deal by going through a broker, especially if you have unusual or complicated financial circumstances. Many brokers offer their services free of charge to customers, instead making money as commission from lenders. Read reviews to find the broker that’s best for you.
Don’t be afraid to negotiate
Most professional services have some scope to negotiate, from estate agents to solicitors, so there’s no harm in asking if there’s any chance of a discount. The worst that can happen is that they say no. You can always ask about other package options – perhaps your agent can offer a discount for a more basic package, where you take your own photos.
Do your own removals
This bit isn’t technically part of the selling process, but it can still be a hefty part of your budget, so it’s worth thinking about whether you can manage the removals yourself. You can expect to pay £1,000+ for a good removals company, so if you have the option to hire a truck and rope in some friends, you could pay them all in beer and food at the end of the day and still make a big saving.
