Your Dream Home may not in this Price Range, but your Starter Home is.

By
Real Estate Agent with Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities #1 in Forest Land Mgmt

Your Dream Home may not in this Price Range, but your Starter Home is.

I was speaking with one of our agents this last week who was feeling a bit discouraged, as were her clients. 

She has several first-time buyers that she is helping, and each had looked at a dozen homes, with several unsuccessful offers so far.

All of these buyers were not finding what they were looking for, they all had clear expectations for what they wanted, yet all were hampered by a budget that would not buy much of a starter home much less their dream home.

They had looked at so many homes and were discouraged to see that many of their “dream homes” were being sold before they could tour them, and others before an offer could be written up.

And still her buyers were not happy with any of these homes enough to jump on them and put in a full price offer, and all their lukewarm offers were turned down quickly.

All of these buyers were looking for their Dream Home and were critical of every flaw in these old and inexpensive homes.

Yet they continued to tour more, expecting to find their Dream Home in the next home toured.

Unfortunately, all were in the same budget range, not the range were Dream Homes exist, yet a respectable range where starter homes do exist.

 

Clearly the Expectations Talk was overdue, the difference between what they can afford versus what they dream of.

It is important to not spend beyond your means, I can respect that, yet to expect sellers to sell their dream home to you for a reduced price, is not very realistic.

Sometimes we do need to put our Dream Home on hold and invest in what you can afford, a Starter Home. 

A starter home that can be purchased for a modest price, fixed up over time, equity built up, then sold when it is worth more; the owner is in a better financial position and ready to upgrade to something closer to their Dream Home.

Time to stop looking for an $80,000 Dream Home, face reality, and invest in an $80,000 Starter Home.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Wisconsin

Spam prevention
Show All Comments
Rainmaker
2,940,318
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Bob.

Sometimes it takes a (face reality) talk to get a clients attention.

Sep 16, 2019 12:59 AM #1
Rainmaker
3,297,095
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bob. Life is a journey that does not begin at the destination. Enoy your day!

Sep 16, 2019 04:29 AM #2
Rainmaker
3,357,911
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Bob - reality matters especially in real estate.  Short-term versus longer expectations.  Baby steps...walking before running....

Sep 16, 2019 05:15 AM #3
Rainmaker
5,419,739
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective home buyers will be in very good hands when they seek your advice and use your professional real estate services.

Sep 16, 2019 07:14 AM #4
Rainmaker
1,938,940
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Bob Crane - you are much better investing in a starter home to begin your equity ride rather than paying rent.

Sep 16, 2019 11:54 AM #5
Rainmaker
107,599
Raymond Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

When we purchased our first home, it was a real mess.  It had been a rental for years. The renters had even raised chickens in the backyard.  We didn't even like it, but it was all we could afford.  We moved in and fixed it up over the years; new roof, paint, landscaping, windows, kitchen, bathroom, deck....It turned into my dream home.  Sometimes, settling is not so bad, especially if you have a little creativity and a lot of energy.   My wife thought she would never get me out of that home, even when our family outgrew it.

Sep 16, 2019 09:17 PM #6
Rainmaker
4,101,450
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bob, congratulations on this new listing, and would make a PERFECT starter home.  Best of luck.

Sep 18, 2019 06:11 AM #7
Rainmaker
82,515
Lisa Wiseman
Intero Real Estate Services, San Jose, Silicon Valley - San Jose, CA

Words of wisdom Bob!

Sep 19, 2019 11:14 AM #8
Ambassador
3,112,605
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Those homes are far nicer than the home my wife and I started out in Bob Crane 

Sep 19, 2019 09:34 PM #9
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
4,261,141

Bob Crane

Forestland Experts! 715-204-9671
Have a Question, Leave me a Note!
*
*
*
*
Spam prevention

Additional Information