Most people spend a large portion of their paycheck on their mortgage payment. Opting for a less expensive house can lower your monthly housing costs, leaving a lot more money in your pocket at the end of each pay period. In the section that follows, you can find the top three ways to find cheap homes for sale in the Durham, North Carolina area.
Method #1 – Opt For A Fixer-Upper
Move-in ready homes are almost always more expensive than properties that need a little bit of work. If you are at all handy, buying a home that needs some sprucing up can be a great way to save. Before you make an offer on a rundown shack, however, you should think through the costs of renovating the home.
Typically, the best option is to go for a property that only needs cosmetic changes. Projects like hanging wallpaper and installing new flooring are not only relatively inexpensive but they also are usually easy enough that you can do them on your own. Homes that need more extensive work like a new roof for a new bathroom may be too expensive and time-consuming to renovate, even if they are listed at a great price.
Method #2 – Shop In Slightly Less Desirable Areas
The highest priced homes tend to be in the most popular neighborhoods. If you can find a property in an area that is a little less desirable, you may be able to save quite a bit of money. Of course, you also have to think about your living situation. Avoid neighborhoods that have high crime rates or excessively long commute times. Even if you get a great deal on a house, you most likely will wind up regretting your purchase if the area is too shady or too remote.
Method #3 – Look For Houses That Have Been On The Market For A Long Time
The longer a home sits on the market, the more likely the owner is to accept a low offer. Sort the real estate listings by the oldest properties first. If you see any that you like, work with your real estate agent to come up with a low (but reasonable) offer. Even though a lot of your offers may get turned down, you might get lucky and find a seller who is willing to bargain.
These are three of the most effective ways to find inexpensive homes for sale in Durham, North Carolina.