Homeownership February 15, 2023

How to Buy a Bigger House with Less Money

Buying a bigger house with less money is a challenge, but it is possible with some creative thinking and strategic planning. Here are some tips to help you get started:

  1. Look for fixer-uppers: Consider purchasing a house that needs some work. You may be able to get it for a lower price and make improvements over time as your budget allows.
  2. Consider a foreclosure or short sale: Homes that have been foreclosed on or are being sold as short sales are often available for below market value. Keep in mind that these homes may require some repairs, so be sure to factor that into your budget.
  3. Expand your search area: If you’re willing to look outside of your desired neighborhood or town, you may be able to find a larger home for less money. You may also want to consider up-and-coming areas that are likely to increase in value over time.
  4. Consider a duplex or multi-family home: These types of properties allow you to live in one unit and rent out the other(s), which can help you offset your mortgage payments.
  5. Negotiate with the seller: If you find a home you love but it’s out of your price range, don’t be afraid to negotiate with the seller. They may be willing to lower the price or offer other incentives to close the deal.
  6. Get a good real estate agent: Working with an experienced real estate agent who knows the market well can help you find a bigger house for less money. They may also be able to help you navigate the buying process and negotiate on your behalf.

Buying a bigger house with less money requires some research, patience, and creativity, but it can be done. By considering different options and working with professionals, you can find a home that fits your needs and your budget.