Don’t make THIS MISTAKE when buying your first home.
Most buyers think and shop like their first home is their dream home. This is a HUGE MISTAKE. Your first home is to get you INTO THE GAME and not get priced out. When you live in a market with historical housing shortage, like the Bay Area, getting priced out is a reality for many buyers. In the long run, prices will continue to rise. We have never and will never build enough housing to meet the demand. This is simply a reality here. You are not building a custom home - not yet anyway - so if you get 70 - 80% of what you want, you are doing well.
There will be a TIME LATER when you have enough equity to be more selective for you and your family. You will be able to get most or all of what you want when there is sufficient equity available to beat out the competition for those high demand homes.
BUT YOU HAVE TO BE IN THE GAME in order to do that. Get in the game quickly. Each year you wait on the sideline, the probability of you getting priced out increases.
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