I will be showing some condos to a new client tomorrow. The client is excited to enter the real estate market as a first time buyer.
He has done everything right. Great credit. Been saving for a downpayment for a few years. He has spoken with a mortgage broker and gotten preapproved...
The real estate market is perfect for him. Huge selection. Motivated sellers. Great time for him indeed.
His budget puts him in a position to purchase either an awesome one bedroom condo or a fairly basic two bedroom.
He asked me this morning how I felt about buying a one bedroom place. Would it be smart? Would he be able to sell it in the future.
"Would a one bedroom be big enough for you? If so, and you are on a tight budget, I would do it in a second. I can sell any size home," I answered.
Any property can be a good investment. It just needs to be purchased at the right price.
Buyers need to really evaluate their needs. Needs today and needs a few years out.
And make their purchase decision based on those needs.
Not based on what they hope will be an easy sell...
So buy what you need.
Any home can sell.
Ken
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