Real Estate
Keeping an Eye on Incentives
In this week's real estate column, we talk about extra incentives offered in home buying and what that could mean for you.
Sometimes a buyer is looking at a home and there are extra incentives offered. These could include decorating bonus, flat screen televisions, etc. Although all of this may sound like a good idea, there are some things to think about before offering.
- Determine reason for offering
- Don't use it to mask a too high asking price
- Determine if it is legal to do so
- Do use them to set your house apart (still make sure it is priced well)
- Can help to make up flaws in the house
If you do use to make up for flaws, please heed this warning: You will spend less money in most cases doing the work ahead of time rather than paying the incentive.
As an example, in a medium-sized kitchen with adequate counter space, putting granite in may cost just a couple of thousand dollars. Instead, the seller offer a $3000 allowance. Those two thousand could possibly net you much more than that in the overall sales price.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
By the Numbers:
Did you ever wonder what percentage of listing price homes are getting? Here you go:
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
0-100K: 100.7 percent
100-125K: 98 percent
125-150K: 95.9 percent
300-350K: 98.6 percent
350-450K: 99.6 percent
Featured Homes:
Parkview Home: Lots of house for the money.
Berkmar Newer Home: Home has a craftsman style.
Follow me on Twitter, Facebook, Pinterest and LinkedIn for updates on our market. Parkview on your mind? Visit our website. Brookwood on your mind? Visit our website.
