Getting the best bargain

PropertyGuru Editorial Team
Getting the best bargain
As with everything that comes with purchasing a home, do your research. Find out how much a specific type of residential property normally goes for and if you already have a particular town in mind, look up how much homes in that area typically go for. This will give you an idea of how much you are willing to pay for your new home and will help you plan your budget better.
If you are handling negotiations on your own, you must know your material. Once you have found out how much homes usually go for in the neighbourhood, use that as a gauge and do not exceed it. If you have a definite budget, stick to it.
Be clear about what your needs are and after you have viewed a good number of homes, make a list of those which meet your needs best. The more homes you have that match your needs, the more bargaining power you have when it comes to negotiating price.
Consider the amenities available to you if you decide to purchase this property. Is well serviced by the public transport system or do you have to take two or three buses to reach your workplace? Is there a Mass Rapid Transit (MRT) station nearby? Can you find food easily around the estate? If the amenities are not particularly appealing, you can use this as a bargaining tool to lower the price the home seller is asking for during negotiations.
Try not to be turned off by homes that do not have a high number of home viewings. This does not necessarily mean that the property is not popular among prospective buyers. It could be due to the possibility that the price the seller is asking for that particular home exceeds the budget of a certain group of buyers. You should also take into consideration the likelihood that a home which is not viewed often might not have many offers for purchase. In that case, the seller may be more willing to negotiate terms.