Setting Expectations in the Charleston, WV Real Estate market.
We all want the finer things in life, who doesn’t? However, when it comes to real estate, one needs to be mindful of what they can afford and set expectations accordingly.
Champagne Taste…Beer Budget
So you say you want a 4 bedroom, 2 baths, 2 car garage, newly updated house, in the best school district…for less than 125k? Yeah, you and everyone else. If I had a nickel for every time I heard that….well you know, I would be stinking rich!
Yes I know there are foreclosures out there, as a REALTOR, I have access to them all. Are they still available? Probably not. Occasionally, a rare gem of a foreclosure does come on the market, but they are typically put under contract the same day they are listed. You see, EVERYONE wants a bargain. The ones that are available are typically plagued with problems, or overpriced (an unfortunate and commonly found trend banks are trying these days). That’s why they are still available, no one else wants them. Would I love to help you find a dream home that is priced disproportionately below market value? Absolutely. Will it happen? My magic 8 ball says no. If it sounds too good to be true…it is.
So what can you expect to find in a house that fits your budget? That’s what I am here for; setting buyers expectations is part of what a REALTOR does. I can help you find a home that will make you happy for years to come. If you are a first time home buyer, statistically you will only own your first home 3-5 years. After that you become a “move up” buyer. That’s when most are able to flex their financial and equity power to truly get the home of their dreams. As for first time home buyers, you may want to focus on the resale factor for now. If it’s a good fit for your budget, lifestyle, and has good resale marketability…then that home should definitely be at the top of your list.