Are you a savvy home buyer?

When it comes to shopping, research shows that shoppers are becoming more and more savvy in how they use discount offers, online coupons and rebates to get the best deal possible on just about anything they want to purchase.

Unfortunately, the same bargain-hunting practices you use when shopping for clothes or electronics aren’t such a great idea when shopping for a new home. Here are some ways to get the best deal possible on your next home purchase:

1. Work with a Realtor. Your home may be the largest purchase you’ll ever make. By working with a real estate agent, you’ll get housing market advice, negotiating assistance and guidance from someone who has been through the home buying process many times. An experienced real estate agent can help you make an offer that’s right for the home’s features and conditions and the current housing market.
2. Do your research. Found a home you’d love to buy? Take the time to research the neighborhood. If you have children or plan on having them, take a look at nearby schools and the school district. Drive by the home at different times of day. Talk to the neighbors.
3. Be willing to compromise. While you don’t want to settle on a house you really aren’t happy with, most home buyers have to accept some level of compromise. Decide what is most important in your house hunt, what is a must-have feature and what you could sacrifice to get what you can’t live without. Really think about your must-have list. While granite countertops and high-end appliances are nice, there’s nothing quite like a new roof that doesn’t have to be replaced for decades or a top-of-the-line furnace.
4. A bargain price doesn’t always mean a bargain. A bargain-priced home may seem like a great deal, but if it requires a lot of repairs, it may not be the best deal for you. If you are okay with buying a house that needs repairs, you still should get a home inspection so that you have a good idea about what you’re getting yourself into.