The demand for real estate is still greater than the supply. However, under the changing conditions of the real estate market, many prospective real estate buyers are now asking themselves whether it is worth negotiating the price of real estate.
In recent years, many real estate buyers have not dared to question the asking price of a house or flat. They assumed that there would be enough other people willing to buy who would accept the price and go for it, while they themselves would go away empty-handed. This attitude is gradually changing.
In fact, financing experts assume that real estate prices and real estate values have not matched for several years now. However, in view of the previously low interest rates and good financeability, the high property prices were easy to push through. Buyers could expect that the price development would soon overtake the purchase price and justify the high purchase price.
In the meantime, mortgage interest rates have almost tripled. So buying a property needs to be carefully considered. In this situation, it is understandable that the purchase negotiations are now more concerned with the price. In any case, a real estate agent is the right person to contact in order to find out how much room there is for manoeuvre in the price of a property. Expertise, experience and market knowledge help to assess the situation correctly and find a good compromise.
According to ImmoScout24, the achievable price reduction is between ten and 15 percent, but a price reduction of up to 25 percent is also possible. Modernisation costs, outdated fixtures and fittings and the advanced age of the property are the arguments most frequently put forward for a price reduction. When negotiating, the respondents also mentioned missing features such as a fitted kitchen, parking facilities, garage and cellar as well as balcony or garden. The location of the property is a price-reducing argument if it is comparatively unattractive.
(Photo: © Marketa Machova, Pixabay)
