How to get the best deal in buying a new house

Published on Mar 27, 2013, 01:20 AM by Abilash Reddy
How to get the best deal in buying a house Bangalore
Buying a home could be one of the most important and biggest investments that anyone could make. It can take many years to lifetime to repay the interest or loan.
Everyone who plans to buy a home would want to get the best deal, why not..?

Before we get into details, it is important to know the sales channels involved in home shopping. It is obvious that all the builders have their own direct sales channels (own employees) and most builders have Channel Partners.

Who are Channel Partners..?
Channel Partners are companies who are authorized to promote and sell properties on behalf of the builders. Here are some interesting facts about channel partners
  • Legally authorized to promote and sell properties on behalf of the builder. Here the sale is only between the buyer and the builder, hence, all the payments are done directly to the builders.
  • Channel partners have upfront info on performance of the projects, strong market knowledge, upcoming launches and will be in a position to advice options
  • Channel partners are better price negotiators as they close many deals
  • Most channel partners have their own promotions and these are passed on to customers who book through them

At Bangalore Nest, we are channel partners for most of the builders in Bangalore. We do not charge any professional fee from our customers.

It is very important to know that channel partners can only help if the customer has approached the builder through a channel partner or enquired first with the channel partner. If the customer has directly approached the builders first, channel partners will not be in a position to negotiate any deal on your behalf.

Well, we aren't trying to say not to contact the builder, if you are really looking for a good deal, approach the channel partner first and verify the accuracy of the info with the builders too.

Heed the following six pieces of advice while home shopping this year

  • Sooner is better
Sooner is better than later as the home prices are likely to rise this year too. This is primarily because of high raw material costs and delays in project approvals.

  • Get hold of a Channel Partner
As we've explained the role of a channel partner, it is a good idea to get hold of a channel partner. In this kind of a market, strong knowledge and negotiation skills is the key. At Bangalore Nest, we are channel partners for all major builders, you can drop a line to us and we shall respond in a few hours.

  • Know the market
A good channel partner will be in a position to explain the market and neighborhood situation. They can tell you on how projects are performing and the experience of other customers on the feedback of projects. That's the best indicator of how fast you'll need to make a decision.

  • Know your finances
It's important to think about how large of a loan interest bill you'd feel comfortable paying each month. Few projects can be tempting to blow your budget, but you may regret the decision later.

  • Be an attractive buyer
Get a pre approved loan before shopping a home. Sellers and channel partners will take you seriously and it's really really easy to get the best deal.

  • Consider other neighborhoods
Prices have always been on the rise, instead of buying a small or less desirable home, you might also consider buying in the neighborhood location. This may more affordable than the area you were originally considering.