You have a clear real estate project in mind, perhaps you have even contacted your bank to find out how much you can borrow. Nevertheless, you have a simple question: should you buy now, or wait for prices to drop? Sometimes, some sellers do not hesitate to lower the price because they are losing patience and need to sell as quickly as possible. On the buyer’s side, it is therefore not always easy to know if you are making the right timing: here are some tips on questions to ask yourself before making your decision!
Buy now, wait: what about negotiating?
You have visited a house and are considering whether to buy now or wait for prices to drop: wouldn’t the best solution be to try negotiating a price reduction now?
If it is a property that has been for sale for some time – or if you know there are no current offers, you know you have no competition at the moment. In any case, you are in a strong position compared to the seller, who wants to finalize their project as quickly as possible.
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So, for you, it is time to make a purchase offer at a lower price. However, be careful: if you ask for too much of a reduction, you risk being refused. To avoid disappointments and major risks, take the time to thoroughly question the real estate agency about this. They will guide you and help identify the limits not to exceed in terms of negotiation.
Are loan rates high, should I wait to buy?
Another element that prompts reflection when it comes to buying real estate: when bank interest rates are particularly high, it seems only natural to wonder if it is not wise to wait for a potential decrease.
Here, this is a riskier bet than waiting for the price of a property to decrease. Because while it is not usual to increase the selling price of a property, interest rates can fluctuate and rise again quite unpredictably.
Interest rates can fluctuate and rise again quite unpredictably.”
Suffering an increase in interest rates during your purchase project may penalize you. Conversely, if rates end up dropping after you have already purchased, you still have the option to renegotiate these interests with the bank. This is why, when considering interest rates, waiting is generally not the right solution.
A property cheaper because of poor energy performance: buy or wait?
Properties that are poorly insulated, for which a lot of energy is consumed to heat them in winter, see their prices drop on the market. Here, the question of whether to buy now or wait for prices to drop further arises quite naturally.
Faced with this situation, do not neglect the risk of a hasty purchase. If you do not obtain quotes for renovation work before making your decision, you risk unpleasant surprises that can cost money.
Therefore, ideally, wait to have a precise estimate of the energy renovation work before buying an old house or apartment to renovate. This way, you know what to expect and how much to borrow exactly.
In this type of project, as in all types of real estate purchases, the role of professionals is crucial. An agency can accompany you and benefit from its in-depth market knowledge. It will be able to guide you on trends and on the advantages of each choice you can make. Do not go this way alone, rely on the expertise of seasoned professionals!
