Buying a house or apartment at a low price is the wish of most future owners. In addition to making a very advantageous acquisition financially, one now has one's own home to enjoy all the advantages that this entails. However, it turns out that private individuals do not always have the budget required for a real estate purchase at market price, so the best solution is to go through the back roads. So here are some tips on how to buy your property at a lower cost.
Taking part in an auction
The real estate auction is a valuable opportunity to make a profitable acquisition. Mainly for judicial sale, the proposed dwellings are for the most part the result of seizures and are sold urgently. The highest bidder becomes the owner, which does not necessarily mean that the final price will exceed the market price. To be informed of this type of sale, simply consult the sites that publish real estate auction announcements.
Generally speaking, auction sales allow you to benefit from a discount of between 20 and 30% for the purchase of the property.
Prefer a home with works
This solution is as interesting as the real estate auction, because the fact that a dwelling requires work normally implies that it will be significantly cheaper to buy. This is more certain, especially when it comes to collective condominium works such as façade renovation or roof renewal. Once the property is acquired, one can compete for the work or possibly do it oneself.
When one buys a property with works, and after these have been carried out, it is found that the overall cost (purchase + works) is often lower than that of an already renovated dwelling. To make a successful real estate purchase, you need to know how to choose your property.
Buying on the ground floor
Noisy, unsafe, risk of flooding - these are some of the criticisms often made when choosing a ground floor dwelling. However, the rise in property prices is really making us reconsider these criticisms. There are two main advantages of ground floor housing:
A discount of 10 to 40% compared to apartments on the upper floors of the same building.
A living area limiting the cost per m².
Moreover, it should not be forgotten that such a property presents less risk for children and statistically, it is not burglarized more often than others.
Opting for an occupied dwelling
This trick remains one of the most advantageous although it does not allow you to enjoy your property already at the signing of the deed of sale. It is indeed necessary to wait for the end of the lease of the tenant or his departure possibly before this deadline to take possession of the property in question. The discount here ranges from 10 to 20, sometimes even 50%, and it is known from the outset whether the current tenant pays his rent regularly
It should also be noted that it is easier for banks to offer loans for investment in an occupied property.
Buying a life annuity
In spite of its seniority, a little like the real estate auction, the sale in life annuity proposes an interesting solution for an advantageous acquisition. In concrete terms, it is a question of paying a starting amount for the real estate purchase (generally 30% of the value of the property) and of paying a monthly pension to the current owner until his death. After that, one becomes the full owner of the property.
While the disadvantage of the life annuity is the uncertainty about the duration of the annuity payment, it has the advantage that it does not require a bank loan and is a win-win situation for the buyer.