Reply to Heartbreak over loss of dream home

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[quote=Anonymous][quote=Anonymous]It’s going to be ok. Just be patient. Try to not get lost in this crazy market. Have a long term view. I know you are pregnant and you are in a hurry but try to stay centered.
We lost many houses back in the early 2000s, we panicked and we ended up compromising on a lot of issues: location, inspection, cost of the house.
It has been a convenient  house and it has appreciated a lot. I’m grateful. However, it has never felt like our dream house and I think with patience we could have found something better for us.
Be patient, you’ll get your dream house. Take care.[/quote]

Thought we were the only ones.  We never really ever found a house that was a dream house, I think our budget and location just worked out that we would always be competing for ugly ducklings.

We compromised a great deal, did some renovation, but the house still has plenty of warts.  But keeps us dry and is good location for schools and has a patch of yard which the kids love, so it will work.  I grew up in much worse, so no complaints.

But I would warn against forever hoping for the "better" home in the future.  That was definitely not what we saw.  I think for our budget, we ended up with a decent compromise; I think our best play would have been to stretch our budget some more but that only works if you are already holding back (we wanted to allow DW to downshift to a part-time job for example).  I've been watching our market for years after, and nothing came on the market which we would have liked more in our budget (some were definitely nicer above our budget).

In short, I would counsel stop with this nonsense about what a house is "worth".  If you really like a house, even if its not the dream house, put in a hefty bid, and some highlander escalation clauses: $50k steps above the highest bid up to the tippy top of your budget.  Basically you want to lop off the head of that all-cash offer with a cool $50k, and stop trying to guess what other crazy people are going to find it "worth" -- if you have the means and want the house, just get into a home and get out of the crazy market.
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