The American Dream – a little house with a picket fence, a yard just big enough for a dog to stretch its legs, and, of course, the sweet satisfaction of knowing you didn’t pay full price. Yes, for many, buying a home is the ultimate financial milestone. But while some are content to sign on the dotted line, others see the price tag as the opening bid in a high-stakes game.
A recent survey of 3,000 homeowners revealed that North Carolina buyers negotiated an average discount of 3% on home purchases. With the state’s average home price at $322,527, this translates to savings of about $9,676 per transaction. Factors such as property condition and market dynamics played significant roles in these negotiations. Many buyers used home inspections as leverage to reduce prices, while others relied on market conditions, like buyer’s markets, to secure better deals. Timing was also crucial, with many starting negotiations early in the process.
In comparison to other states, North Carolina buyers were among the most successful negotiators. Alabama led the country with an average 4.3% discount, while Arizona buyers managed an average reduction of just 2.7%. The survey also highlighted that most buyers maintained civil negotiations, although 54% reported walking away from deals when sellers refused to budge on price.
Additionally, 36% of respondents mentioned instances where the seller or agent disappeared during negotiations, emphasizing the importance of transparency in real estate. North Carolina’s results show that persistence, timing, and strategy remain key to securing favorable terms in the homebuying process.
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