Luczak Group - The Blog

Information for happenings in the Real Estate Market in the Pikes Peak Region... and some things we just find interesting!

Tips for Home Buyers

The Reason Not to Look at Homes Above Your Price Range

Here I am, working with a great young couple looking to buy their first home... so far so good right?  I have worked before with first time homebuyers and am very comfortable working with them.  I met them at an Open House, and they had visited several.  They have done their research online, and they had a pretty good idea of what they want.  

The house I was holding open met all of their criteria- nice large lot, great house in a good school district, large kitchen, and a great master suite.  The big issue- the house is priced higher than they are willing to go.  They want all of the great amenities that the house has to offer- but they wouldn't feel comfortable stretching their budget to meet this homes asking price.

Here is where it gets sticky: the house priced at $250k is priced that way for a reason.  This couple wants to stick to the $200k price range.  Every home I show them now is bland and doesn't offer everything that the original house does.  Of course it doesn't!  $50k will get you a fair amount of amenities and features.  Now we are stuck in an unfavorable position- I want these clients to be excited about their first home.  It's a very exciting moment in someones life, and the last thing I want is for them to "settle" for a place. 

I'm not sure how we'll end up, or if we find a place that they love just as much, but there is a great lesson to be learned here.  Be careful about looking at properties that are above a comfortable price range!  You don't want to mess with your own expectations!

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