Your Budget when buying property

It can be an exciting time when buying real estate, can’t it?


As you know, though, successful property investment should be less emotional than buying a home to live in.

Either way, we’re all human, so sometimes our emotions can get the better of us.

The thing is one of the worst times for this to happen is in front of a selling agent.

Why is that?

Quite simply, a real estate agent is selling the property, but at the same time, they’re also gathering intel to pass on to their vendor client.

And that information, especially when the property is being sold by auction, is golden and should be kept mostly to yourself.

That said, it’s a fine line between wearing a poker face and showing the necessary enthusiasm when investing in property.

Let me explain.


Smart investors have a strict budget– and they stick to it.

Now that number should only be known to them and their property team.

One person that shouldn’t be aware of your exact budget is the sales agent.

Let me be clear: agents are on a mission to find out as much useful information about potential buyers as possible.

And that includes their budgets.

In other words, a real estate agent wants to know your budget so they can use that during negotiations.

Let’s say you have $800,000 to spend and you’re looking at a property that’s priced with a seven in front of it.

What should be flashing through your mind is this…

If the agent knows you have more money to spend, they will attempt to extract it from you at the final sales price.

The secret is to give a more general answer to the budget question such as: "I’m looking for properties around this price.”


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Jason Gwerder
Thursday, 3 March 2022

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