Many Buyers are finding themselves in a position where they make an offer on the perfect home, only to find the seller is unrealistic about the price they want. Even when the home is a great fit for the buyer and their lifestyle, no one wants to overpay.
Upon closer review however, it may not be such a bad idea to pay a little more than a property is worth to get what you want.
In just a few short months, a home purchased today could easily be worth even more than the buyer paid. For example, the buyer pays $200,000 for a home that appraises for $180,000. If the home appreciates 10% in the next year, it will be worth what the buyer paid for it. Also, having the use and enjoyment of the home for the extra year could easily make up for the short-term overpayment.
Every buyer should remember that money should be a means to providing happiness. Choosing the right home shouldn’t be just about the purchase price. It should mainly be about the happiness the home can provide.
Just like the old American Express ad;
The value of the home = $180,000
The use and enjoyment of the home = priceless