How To Shop Winter Park Homes For Sale (On A Budget)

Posted by Jake Johnson on Sunday, April 28th, 2019 at 9:35am

If you’re looking for Winter Park homes for sale, but you have a tight budget for your home purchase, you may be wondering how you can find the right place – but still ensure you don’t overspend. In this guide, we’ll provide you with a few top tips which will help you do just that! Read on, and learn with us.

1. Start By Building A Budget

First things first, you need to establish a household budget. You need to track every dollar of income that you get, and every dollar that you spend. This includes things like:

  • Rent

  • Utilities

  • Insurance

  • Transportation

  • Groceries

  • Recreation

  • Medical expenses

  • Personal spending (clothes, cosmetics, etc.)

  • Savings/retirement

Not sure how to start? Check out this article, and consider using an online tool like Mint.com or You Need A Budget to help make the process easier.

Once you’ve built your budget, you’ll be able to get a better idea of how much you can afford to spend on your home. Play around with an online mortgage calculator, and then establish a firm budget for THE home you’d like to buy in Winter Park.

2. Establish Your “Must-Haves” – But Stay Flexible

You should always have some things that you’re not willing to compromise on when you’re looking at Winter Park homes for sale. Maybe you want a large backyard, for example, or want to live in a particular school district or neighborhood.

You need to establish a list of your “must-haves,” and a list of your “nice-to-haves” – and you should be flexible enough to consider homes that meet all of your “must-haves,” but may be lacking in other areas.

Maybe you’ve found a home that’s in the perfect location and has everything you need – but the decor is outdated and ugly. Does that mean you shouldn't buy it? No! Things like home decor can always be addressed later in the home ownership process – when you have the additional money you would need for renovations.

Be flexible. Look for the potential in a home – as long as it meets your “must-haves,” you should definitely consider it, even if it may not be absolutely perfect in every way.

3. Communicate Your Goals To Your Real Estate Agent

You need to let your real estate agent know that you’re on a tight budget – and that you do not want to look at homes that exceed it. A good real estate agent will respect your finances and your wishes. On the other hand, if your agent keeps showing you homes that are outside of your price range, it may be time to find a new agent.

4. Look For Homes That Aren’t Selling

Many home buyers tend to shy away from homes that have been on the market for a long time – and they assume that there is some serious hidden defect that’s preventing it from selling.

But most of the time, there’s a much more mundane reason a home isn’t selling. Maybe the interior is outdated, the seller has been asking for too much money, or the outside is a bit run-down and it doesn’t have great curb appeal.

You should seek out these houses! If a home has not sold and has been on the market for a long time, the seller will be motivated to work with you, and may even drop the price. If the home is in good shape but has some minor flaws, you can still get a great deal on a home that’s in your price range – and renovate it later.

Need Help? Contact Orlando Hub Real Estate Now!

On a tight budget? Having trouble finding homes for sale in Winter Park? Orlando Hub Real Estate is here to help. Contact us now to schedule a consultation, and we’d be happy to help you find your dream home in Winter Park.

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