Analyzing Seller’s “Freebies” When Buying A Home
It’s a home buyer’s market. Because of that generally known fact, sellers, particularly new home builders are offering an ever increasing array of incentives to prospective buyers. Incentives can sometimes vary from a free finished basement to a new flat-screen TV. Sellers are betting that the incentives will tempt to close the deal sooner than you might otherwise.
The incentives at the top of your list shouldn’t be a short-lived luxury but a long-term comfort to your future financial independence. To our mind, the number one incentive is knowing that you are getting the best possible price on the home you want.
A drop of just a few tenths of percent in the mortgage interest rate will result in thousands less in payments over the course of a 15 or 30-year mortgage loan. A decrease of a few thousand in the price of your home will mean that you pay less in property taxes, which are often based on the home’s purchase price.
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