Determine your budget by considering factors like income, credit score, and down payment. Financial experts recommend not exceeding 28-31% of your gross income on housing costs.
How much can I afford to spend on a property?
The market value is influenced by location, size, and condition. A professional appraisal or real estate agent's comparative market analysis can provide an accurate estimate.
What is the current market value of the property?
In most cases, there is room for negotiation based on market conditions, property condition, and seller motivation
How negotiable is the asking price?
Consider closing costs, property taxes, insurance, maintenance, and utilities when budgeting for a property purchase
What are the additional costs besides the purchase price?
The time on the market can indicate desirability, with longer listings potentially being more negotiable