Blog Stories How to get what you want with a tight budget and a bit of know-how!

How to get what you want with a tight budget and a bit of know-how!

By Living Room Realty, December 7, 2023

Here are my thoughts on how to get what you want with a tight budget. Let’s get creative and be informed.


Look at Cosmetic Fixers:

Look past the paint and the details. Is the house filled with junk? Are the photos just bad? See everything on the market. You’ll be surprised! And, I love the hunt for a great diamond in the rough.


Fix your credit:

Some lenders are better than others at this. I can help you find a lender who will give you a clear idea of what you need to do to fix your credit and better qualify for a loan.


Talk to multiple lenders:

They are not all the same and it’s important you like the lender you work with. Look into first-time homebuyer programs, FHA or VA or Oregon Bond. I can help guide you to lenders who have the loan packages best for you. And, it’s important you feel comfortable talking with them about money and finances. This can feel very personal so you want to work with a lender who is a good fit for you.


Look into rate buydowns:

Because interest rates have been high this year, rate buydowns have become pretty common. Sometimes you can even negotiate this with the seller so they pay to buy down your rate. You can also buy down the rate on your own and your lender can walk you through that.


Always get an inspection:

This will save money in the long run. No one likes surprises in real estate so I highly recommend every single client has a home inspection done to avoid an expensive surprise after you get the keys. Home inspections cost money but they are worth it! I typically recommend these basic inspections- general home inspection, sewer scope, radon test and an underground storage tank scan.


Look for solid big-ticket items already in place:

This one is easy because most sellers are eager to let you know what has been updated recently. But it’s very important when we are crunching the numbers and deciding if the value is there for you.


Focus on location and layout:

These are two things you can’t easily change about a house so they are very important to focus on when you’re buying.


Be realistic about the renovation lifestyle:

This is a big one because no one wants to spend every single weekend and evening working on their home projects, no matter how much money it saves.  I have a lot of clients who begin their house hunt very certain they can easily renovate a house. Then, they learn more and realize it’s not as simple as it seems. Especially on a budget. I will help you get bids for major renovations or big updates during your inspection period. That way you can make an informed decision about what works for you. This is case by case so I’ll advise according to each buyer’s situation.


Research the Market:

I am here to help you understand the local real estate market conditions. Are prices trending up or down? Are there any neighborhoods where prices are more favorable? Knowledge of the market will help you make informed decisions.


Look for Motivated Sellers:

Sellers who are motivated to sell quickly may be more willing to negotiate on price. These motivations can include job relocations, divorces, financial difficulties, or properties that have been on the market for an extended period. A big part of my job is to build rapport with other agents to get as much information as possible and find the win-win for everyone!


Don’t Lowball:

It’s better to look at the data and make informed offers. Sometimes buyers purchase below the list price but throwing a very low offer price out there just to see what happens is not productive. While you want a good deal, making an unrealistically low offer can turn off sellers and waste time. I work with clients to determine a fair and competitive offer based on market comparables.


Be Patient:

This is a big one. The timeline a buyer thinks they need is usually the first thing out the window. Don’t rush into a purchase. Sometimes, waiting for the right opportunity can lead to a better deal. Keep an eye on the market and be prepared to act when the time is right.


Backup Offers:

This dovetails with being patient. If a deal falls through for another buyer, having a backup offer ready can put you in a strong position to negotiate with a motivated seller. You’d be surprised how often this happens.



Be open to compromise on non-essential features or repairs. Being flexible can help bridge gaps in negotiations. A lot of times these non-essential repairs feel like a big deal in the moment but they don’t need to be deal breakers.


Reach out if you’re interested in talking more about buying or selling a home. I’m here for you! If you’re a first-time home buyer I can set up a new-buyer meeting and go over everything step by step. If you already own a home and you’re ready to sell that one and get the next one, let’s make a plan that works for you.

Bringing authenticity into real estate is my calling- I love to engage with new people and listen carefully to their needs and goals, then throw all my energy into helping to achieve them! I am known for my knowledge of the market and my ability to educate and listen carefully, although my secret superpower is that I remember every house I’ve seen (which is a lot).

Jasmine Deatherage


Living Room Realty

Read More
  • T: 503-719-5588

You might also enjoy

Just Listed! Pretty Enclave in Wood Village, the Gateway to the Gorge!

Lita Batho

23783 NE Shamrock Drive Wood Village, Oregon, 97060 This three-level home sits on a spacious .28-acre...

Just Sold: Cornelius New Build

Antoinette Berg

2804 S Oleander Lane Cornelius, OR 97113 Stunning, newly built townhome in the lovely Laurel Woods...

Navigating the February 2024 Portland Real Estate Market: Insights and Opportunities

Will Sing

Understanding Interest Rates and Economic Trends Interest rates have captured everyone’s attention. As we step into...

All In For The Win!

Constance Rigney

First time home buyers, Amelia and Steve know how to get the job done. They are...