Are you looking to buy a presale property in Vancouver, British Columbia? If yes, then I have a tip that could save you a significant amount of money and make your purchase even more worthwhile.
When it comes to presale properties, there's a nifty negotiation tactic that many buyers overlook: securing a decorating allowance. This is essentially a credit that the developer agrees to give you upon the completion of the property. But why is this so important, and how can you use it to your advantage? Let's dig deeper.
What is a Decorating Allowance?
A decorating allowance is a financial credit allocated to you by the property developer at the time of completion. This allowance can be used in several ways to enhance the value you get from your investment. It's an opportunity you don't want to miss out on!
How You Can Use Your Decorating Allowance
- Furnishing Your Property: You can utilize the decorating allowance to furnish your new home. Whether it's that sofa you've been eyeing or the perfect dining table to complement your kitchen, this allowance can help cover those costs.
- Offsetting the Cost of Upgrades: If you decide that you want upgraded countertops, flooring, or fixtures in your new place, the decorating allowance can significantly reduce the financial burden of these enhancements.
- Reducing Closing Costs: Perhaps the most practical use of the decorating allowance is to apply it towards some of the inevitable closing costs. Since these expenses typically come out of pocket, using your decorating allowance here can free up funds for other things.
Why Go for a Decorating Allowance?
Opting for a decorating allowance is a smart financial move for several reasons. Firstly, it gives you more wiggle room in your budget post-purchase. When you reduce the immediate out-of-pocket expenses, it’s easier to manage your finances and make your transition into your new property smoother and stress-free.
Moreover, many buyers find this option attractive because it offers immediate financial relief at completion, which is usually when funds can be tight.
Final Thoughts
If you're considering buying a presale property in Vancouver, negotiating for a decorating allowance can be a savvy move. It not only serves to enhance the appeal of your new home but also provides financial flexibility. Remember, every dollar saved is a dollar earned, and this is one tactic that showcases you're prudent and thoughtful about your investment choices.
Whether you decide to spend this allowance on furnishing, upgrades, or closing costs, the bottom line is that it eases the financial burden of buying a new property. So, when you're discussing terms with developers, don't forget to bring up the decorating allowance — it could be the best decision you make for your new home purchase.
Need help purchasing a presale? Message me below to get started!