Smart Negotiation Techniques while Buying a Home

Smart Negotiation Techniques while Buying a Home

Per square feet rate or the package cost of a property is more or less fixed. The factors that define this are

• The prevailing ready reckoner rate of the government
• present per square feet construction cost in the industry
• The current market rate
• The value-added features of the property and
• The premium the developer is charging.

But still, your negotiation skills can help you lacs. Let us check how…

Be thorough in market intelligence

Buying a home is an expensive affair. Spare some time to develop your market intelligence. A good knowledge of all the parameters mentioned above would boost your confidence while negotiating.

Have complete information about nearby projects

Nobody would zero in on a property without visiting and analyzing the projects available in the vicinity. However you need to do it a little more seriously. An argument like ‘the neighbouring project has a Futsal and still charging lesser than you’ could leave the sales person speechless. So watchfully visit all the competitor projects, collect all the marketing literatures and best way is – make a comparison chart in your notebook.

Always ask for the offers & benefits

Don’t be over-excited and show moderate interest. Tell the people across the table that you appreciate the project but currently not in a hurry of buying. If it triggers the discussion then it is fine. Otherwise openly ask for the offers or the extra benefits they could offer.

Use the trick of ‘fear of loss’

Every buyer is precious for the developer. And you are not an exception. Before you finalize, just try the trick of showing the ‘fear of loss’. Simply act as if you are reluctant to go ahead if no benefit is offered to you. In anticipation of the probable loss, the sales guy will offer you something. Seize this moment and negotiate further.

Ask the best negotiator to accompany you

Some people are naturally good at it.  Someone from your friends, colleagues, relatives may be good at it. Take them along and ask them to make the most of the skill they possess. We are sure it will work in your favour and help you get the desired rate…