Buying a home is a big step. It can be the biggest purchase you make in your lifetime, so it pays to research and finds the best home you can. Many factors influence this decision – whether you’re buying as an investment, to retire, or because you want a stable home for your family. You might want to look at how much house tax affects you or what features are essential for a growing family.

But one of the most important factors when looking for a home is the price. Homes are bought and sold all the time, so it’s not obvious that you can get a good deal on a home by finding out what other people paid for theirs. Perhaps you remember that old car you bought 5 years ago and saw an ad in the paper offering $500 off if your trade-in met specific standards. Buying a home is just like that, only this time, it’s not an object we’re willing to sell. We’re selling the comfort and security we associate with a home. Learn more here

You don’t see it advertised, but there are certain ‘tricks of the trade’ you can follow to make sure you get the best deal possible on your next home:

The first thing you should do is find out if the house has ever been valued. A valuation is a professional opinion of what a home is worth. You will usually need to pay for this, but it can give you an idea of what others value your new home at – it could save you thousands.

Then, look at how much money you’ll have to put down before you can get a home loan. This is called the deposit. A small deposit may mean you pay more interest and fees when the loan comes due, and your monthly payments are higher. On lower-priced homes, a higher deposit can be an attractive feature. Some home buyers pay for this with a second mortgage – you have to pay off two mortgages simultaneously. The advantage is that your monthly payments are lowered or even turned into a one-off payment.

Finally, look at how much of the cost of buying and selling your home is going to go towards fees. Click this link to understand more