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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