How to save effectively on your next property investment?

Saving on an investment is a tricky business. You have to pull every trick in the book to save up on the unnecessary expenses that you can replace with smarter ways to get the same deal. You may buy the property to let it out, or for your retirement, future investment, due to job transfer: for whatever reason, you want to strike a good deal that does not strip you of all your savings but is feasible for you.

May it be your life savings or the loan, you want to save some part of it, so your lifestyle is not restricted due to the huge investment you just made. But at the same time, we do not want you to cut down on your dreams of a perfect house. So here are some tips to save on your next property without compromising your needs:

Know your options: when you are making a blind investment, you leave it to chance and luck to get you a great deal: not a good idea. Instead, you can conduct in-depth research to determine which neighbourhood has the highest demand. This property will still be in demand in the future, the location that will undergo redevelopment. You can choose a property that checks all the boxes.

Look at the properties that are in demand. For example, condos, duplexes, beach houses, Little River houses with no HOA, choose what fits your requirements and yet fulfils your future plans with the property. Invest in the property that is in your budget or an investment.

Why invest in property: You might think this is a high term investment with no immediate repayment. But it will fetch you a greater profit in the future after resale the property or immediately if you let it out on rent. Many homeowners rent out a part of their property and enjoy the side income. Properties do not lose value. Therefore, you can invest in them at any time and expect good value returns.

You can also rent your driveway if not in use. It is especially in-demand if you live near a city center or public places, where parking is limited.

Types of properties: reselling/neglected properties are cheaper than fully furnished, read-to-move-in houses. Agents are anxious to get these dormant properties off their hands. At the same time, properties in the upcoming and developing areas are expensive owing to the finished product they hand over to you. And Neglected properties may require repairs or minor changes but may prove to be a good investment in the long run.

Choose a professional: whether it be the real estate agent or developer, or broker, you cannot make a deal without trust. You want a reliable person (real estate agent or developer, or broker) to help you find the home of your dreams. Read reviews of the agent/developer you hire. People share their experience online with the business, and you can decide if the person may help you find the right property. Agents help you find budget-friendly properties in the location and neighbourhood you want.

Negotiate: your persuasive skills combined with your bargaining skills will help you negotiate a reasonable deal with the seller. Please do not take the first price offered and always ask for a discount based on the property location, neighbourhood, and the property itself. Look at other available options, best possible rates, furnishings and amenities, and other influencing factors among your optional properties. Bargaining skills are a sneaky combination of appearing interested in the property only if offered at a certain price but do not be restrictive, causing the property to slip out of your hand. A better way to negotiate is to inspect the house, find out what flaws it might have, repairs it may require, and use these points to bargain your price.

Look for under-construction properties: ready-to-move-in properties are expensive as they add up the cost of amenities and finishing. You can keep an eye on the streets and locate properties that are under construction. Or stalk trusted developers’ websites to find out the projects they are working on. The under-construction sites are advertised subtly, if any, and mainly bought by people with a vision. If you can afford to wait, under-construction properties are the best deal you will bag in the property market, they are cheap, and you can modify them as you would. Note that the construction is RERA-approved.

The use of credit cards offers: most people opt for loans when buying a house that requires a large sum of money and their savings. Lenders require a great credit card score and steady income for you to be eligible for their loan. A credit card score of above 750 points will give you the best interest rate. Most of the lender banks have their loan facilities linked to the borrower’s credit score. You can assess your credit card score and benefit from a lower interest rate of as much as 3% p.a.

  • While repaying the loan, you can make an annual payment, thus saving up a small amount. You can Put the amount that was going toward the loan into a savings account each month and pay the minimum on the credit card from it. In a year (when the promotional rate ends), use the savings account to pay off the remaining balance on the card, and put the rest toward the mortgage loan.
  • Not only do you reduce the spread of loans over a year, but you also save interest and earn money on the savings account with your credit card. It is called Stoozing.


A large investment like buying a property will make you feel its presence in your financial billing, but you will save a substantial amount with these tips instead of before. Do not be intimidated by the cost of the property or downsize your dream house; you only have to think of ways to make it work with the amount available to you. Finally, and most importantly: do not settle for less. Happy house hunting!