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5 Ways You Can Save Money When Buying a House

If you want to save money and make home buying less expensive, there are some simple yet strategic actions you can take. Buy Near an Up-And-Coming Area One of the best investment decisions is buying near, but not in, a hot neighborhood. You can often save 20-30 percent on the purchase price. To save even more money, consider purchasing a house near a hot neighborhood that also needs a little bit of work. Avoid Standard Commission Real estate agents do a lot to help their clients find the perfect house, negotiate a fair price, and walk through the legal aspects of closing. Negotiate Closing Costs If you aren’t careful, closing costs are where you’ll get hit. On a $200,000 home, that’s $4,000 to $10,000. “If this is tough with the homes you’re considering, Realtor.com suggests simply shopping for lower-priced homes for which you can make a 20 percent down payment. Don’t Be House Poor Just because you can buy a house, doesn’t mean you should. What tips do you have for saving money on a home purchase?