Hi there, living in a capital city. Recently closed in on a house and was ecstatic at the time because there was nothing like it available due to lack of supply. We offered probably 50k over what we thought it was worth in the current market. Fast forward 3-4 weeks later and suddenly there's an influx of really similar properties selling for around 60k less than what we purchased. Considering stamp duty and other fees, it feels like an 80k loss. Planned to live in the house for 10-15 years anyway to try as the suburb is nice, school is okay, and less than 15mins to the CBD. We didn't aim to time the market but didn't think we'd overpay by such a margin. Definitely felt the heat of the moment from sales tactics.
Is this a normal feeling? First time home buyer and with the feeling of so much pressure and dread due to the current market situation, I felt like I needed to increase my offer to secure the house but now I feel like a complete idiot and can't stop looking at housing websites and comparing every little thing side by side (land value, quality of finishes, layout of house, etc.).
Does this feeling every really go away? Please share some stories and opinions if you think they'll help.
Submitted November 09, 2021 at 07:34PM by msmeeper https://ift.tt/3HiCMPJ
