Buying a new house is a good investment. In Seattle, the local house market has changed in the couples of years – and it continues to change. 2019 is an amazing year for buying a house in Seattle, due to the stable real estate market.
Are you thinking of buying a new house in Seattle? And looking for ways to save money. You have come to the right place. In this blog, we are going to tell you the topmost effective ways to save money when buying a new house.
Explore the different ways to save money when buying a house:
• Use an Experienced Local Real Estate Market: It goes without saying, an expert retailer will save you a lot of money, and time. It guides you in a better way and gives you the best deal on a home. Generally, first home buyers need some advice and guidance while buying a new house due to the lack of knowledge of the real estate market. That’s why it is vital to choose a local retailer, who will help in buying a new house at the best market rates.
• Get a Loan Quotes From Multiple Lenders: There is no limit to the number of getting quotes you can get. The interest rates, loan application fee, pre-approval fee, and mortgage rates vary from Seattle mortgage lender to lender. After getting the multiple quotes you can able to negotiate lower fees and rates. But they give you a chance to speak with different loan officers to see who you are most comfortable with.
• Increase your credit score: The higher the credit score, the lower the interest rate you will receive. If your credit score is more than 750 then there will be a chance you will get a loan at the cheaper interest rates and get loan faster approval. In order to increase credit score, it ‘s recommended to keep your balance 15% of your credit limits to maximize your credit score.
• Find a House that Needs some Work: Buying a home at the affordable rates needs same efforts buying a diamond in the rough can be a great way to save huge money. Buying a home is a huge investment, so take homework and time and choose the one that you can see yourself living for.
• Bargain well if dealing with the broker: If there is a middle man, there is a chance that he can take extra charges for approving a home loan. So, before hiring a broker, it is vital to bargain with a broker to save money. Don’t stick to one lender, research in the market and choose a reliable broker from your researched list.
• Purchase home in winter: In summer and spring season the housing market rates are generally high. It is observed the housing rates in winter is relatively lower than in the summer season. So, if possible buy a house in winter. Waiting to buy a home in winter months can save $20,000 as per the Nerdwallet.
If you are looking to buy a new home in Seattle and looking for a renowned Seattle mortgage lender, feel free to contact us anytime.