Negotiation Strategies for Homebuyers in Bangalore
Looking for a home in Bangalore isn’t as easy as it may appear. Rapid urbanization, traffic congestion, increasing prices of property, and lack of transparency- are the basic problems every Bangalorean faces when hunting for a house.
Distressing as it may sound, a little help from real estate services will sort it all! Before we proceed with smart negotiation tips, understand this - do not rush into finalizing your home in a hurry. Before you sign any agreement, make sure to check the builder’s past record. The reason is that most builders post ads in high-profile newspapers and magazines to show off, despite having poor work records.
The other problem many home hunters face is during negotiation. Many builders in this sector do not show any interest in negotiation, thereby making it even more difficult for home buyers to get ahead with the deal. Through this blog, we aim to help you become a Negotiation Ninja.
- Show them you are serious: Flaunt it, till you get it! Show your seriousness and stress on your commitment by highlighting quick decision-making and a strong financial position. Be the buyer they can't refuse!
- Keep your walking shoes handy: It’s okay to walk out of a deal if it doesn’t feel right. Don't be afraid to walk away if the price doesn't match your value. Show that you have alternative options in mind, this shows your seriousness as a buyer. Following this approach generally makes the seller reconsider their price and make concessions.
- Look for a consultant: Leverage the knowledge of expertise in this field. Seek help from real estate agents or reach out to Agarwal Estates.Consultation always helps, they'll guide you through the entire process, and negotiate on your behalf.
- Research market trends: Knowledge will provide you with an upper hand in this scenario. Staying updated with current market trends, property values, and recent comparable sales throws a good impression of yours. Thereby, boosting your confidence during negotiation.
- Fix your budget: Be clear on your budget and set a financial boundary before you enter the market. This way, you won’t make any emotional decisions; rather, you will remain firm with your decision.
- Be aware of the projects you are interested in:Keep yourself updated with the local market. Research from your end, and find the prices of similar properties in the area that you’re looking for. Know for how long the property has been up for sale; if it has remained unsold for long, the developer can be seen to strike the best deal for you.
- Get clarity on inclusions: If you are interested in certain furniture, negotiate their value separately from the property price. Use contingencies strategically. For example, you might waive a minor contingency in exchange for a concession on price or repairs. If your contingencies aren't met within a decided timeline or terms, then feel free to walk away.
Other negotiation tips that work wonder
- Maintain a positive demeanor: Understand this, negotiation is a conversation, not a battle. Be respectful and assertive throughout your dealing process.
- ⦁ Practice makes perfect: If you are a little afraid, then try to role-play negotiation scenarios with friends or family. This way, you will help you build your confidence.
Conclusion: Home Buying in a city like Bangalore is a tedious process, and given the fast-paced lifestyle you follow, we suggest you approach the best real estate company in Bangalore - Agarwal Estates. Nevertheless, keep honing your negotiating skills. But at the same time, we also advise you to do your research and understand the market. On that note, we wish you good luck in finding your dream home.
