First Time Home Buyers Are Leading The Way

It’s likely that more first-time homebuyers will aim to make a purchasefirst-time-buyer-puzzlesoon, as they try to meet the $8,000 homebuyer tax-credit deadline in November.

If you are a seller and you would like to attract first-time homebuyers, you may want to consider the following:

Reduce your price. You don’t have to lower your price by a lot to get the attention of buyers. That discount may even be able to get you a higher selling price should the discounted price attract enough buyers and a bidding war could begin.
Make your home move-in ready. Often, first-time buyers want a home that’s move-in ready, since they might not have the means to make decorating changes or to pay for repairs. Consider making minor repairs and upgrades to your and you won’t scare off buyers with repairs that may need to be done.
Cover closing costs. Consider picking up the bill for the closing costs — this will help attract those first-timers who have limited funds available to them.
Help with a down payment. You could help the buyer come up with a down payment — this might actually not come at a higher cost to you, because you may be able to make up for it by getting a higher selling price.
Pay points. You can bring down the interest rate for a buyer’s mortgage by paying points. A lower rate may help to lower the buyer’s monthly loan payments.
Offer furnishings. If it is possible, include furnishings with the home or provide a furnishings allowance.
Add incentives. If you don’t have furnishings to offer, you could get creative and offer freebies like gift certificates for home cleaning for a month or two. These types of incentives are appealing because not only do they offer the homebuyer a savings, they have a lifestyle appeal as well.
Offer a home warranty. For a few hundred dollars, you can give buyers peace of mind should something with a home’s heating, plumbing or cooling go wrong after purchase. This is especially attractive for buyers who might not have the cash for major repairs after moving in.

For more great information go to How to Get a Home Inspection.

Allow me to help you find the home of your dreams Contact Eddie Perez at (201) 344-2886, www.investhoboken.com.

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