The other day we took a young engaged couple out to look at homes after e-mailing them a selection of homes well under the maximum amount they could spend,,,but in a different neighborhood and much larger. (They currently only had 2 bedrooms and oversize furniture in a tiny house on a very busy street. Going through the listings without really understanding...or asking what to look for they quickly dismissed 95 per cent because they were "not impressed."...they thought the homes were the same size as the one they were in....in reality they were 75% or more larger...."Nothing was ALL BRICK"....and to Mr. Buyer, that was a not wise requirement. Their only question was what would the house they were in list for....not the $10-$15,000 over assessment that they had imagined....yet....they would still have $20,000 in equity after expenses to put down ..not enough they decided....and of course, the appreciation on a busy street will be sloooooow process....they weren't listening. One of the "unimpressive" homes would easly sell for $20,000 more in a better market...updated kitchen and 2 baths...but of course, it wasn't all brick. How long would it take you to save $20,000 we wanted to ask....but the "property virgins" as HGTV would say.....knew better....
To "Property Virgins" everywhere.....Know that you don't know....Know that your next house is not your last house and it is smart to build equity especially in this market where it is easiest....Trust that a realtor that is your Buyer's Agent is advising you with your best interests at heart....if you don't ask, you will never learn...and never know what you don't know now.
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