I closed on a property about two months ago and ended up paying about 7% over listing as well as waving inspection.
When I first closed on the property i felt a little bit of buyers remorse. This was my first real estate transaction and after making a few offers that weren’t accepted started to worry about being priced out of the market.
I was looking at some of the cheapest houses and some of the more desirable areas in my location. Ended up getting a house built in the mid 50s that needed some updates but was in a desirable location.
For the first month or two after closing I would continue to follow the market and often times see other houses for the same price I paid that were more attractive than my house. Sometimes I would think I wish I would have bought this house instead of mine.
No I’m looking at what’s on the market in my area and there isn’t a single house in my area being Listed for what I paid.
It looks like my hunch was actually true and I would have ended up getting priced out of my targeted market if my offer was never accepted.
It’s crazy how fast this market is swinging and all of the emotions that can come along with buying a house in this market. My buyers remorse has turned into getting a good deal.