‘quick move in’ or ‘spec’ homes can save tens of thousands of dollars

If you are moving and are interested in buying a home for yourself, there are many ways in which you can grab a bargain on your new home. Builders these days offer bargains to new homebuyers that get them fabulous discounts, mostly on ‘quick move in’ or ‘spec’ homes. Depending on the area and the builder/realtor, you may find discounts ranging from a few hundred dollars to tens of thousands of dollars. Some homes have bargains that can fetch you a discount up to $50,000; sometimes even more. Others offer bargains like a free gourmet kitchen, basement, or a solarium with the purchase of your new home. There are still be others that offer a range of branded consumer durable sets like, refrigerators, cook tops, kitchen hoods, dishwashers, washing machines etc with the home.




Many times, cash incentives are offered through these builders s that can be adjusted as per the liking of the homebuyer against closing costs, moving costs, upgrades or furniture gift certificates. You can also use these cash incentives to buy down your interest rate on your loan to make your monthly payment more affordable. Some companies offer trade in of your old home and pay you the market price less a sales commission and allow you to stay in your old home till the new one is completed and you are able to move in. This bargain offer saves you the hassles of selling your old home and lets you be stress free as you move to the new location. Not only does it save you the hassle of moving twice, but it also saves on the cost of moving twice as well which can easily add up to thousands of dollars.




You can also make a bargain purchase of a home if you stick to certain criteria for the purchase. The first thing would be to keep your expectation of price appreciation within realistic limits. Do not expect prices to skyrocket in the next year or so. If you intend to stay in the house for a long time and the price appreciation sets off your closing costs, real estate commissions and lender fees etc, it is a bargain for you! These can total to more than ten percent of the purchase price. Make sure that your mortgage payments are affordable. This will give you tremendous peace of mind and will also provide you with tax breaks that would make home ownership very attractive and a bargain indeed.





You can also make a bargain purchase if you manage to locate a lender who offers a mortgage with no down payment or very little down payment. This allows you to obtain a larger mortgage and full tax benefits, as property taxes and mortgage interest are fully deductible from both federal and state income tax. Although this is getting harder and harder to find these days, these loans do still exist and FHA loans still only require a 3% down payment.




Getting the right Realtor that does a bit of research can enable you to make a bargain purchase as you go about acquiring a new home for yourself.
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