Loading…

Pulled the trigger on a condo after 3 open houses and I'm second-guessing | First Time Buyers - Babble Community

Pulled the trigger on a condo after 3 open houses and I'm second-guessing

I was at a friend's BBQ last Saturday and her realtor buddy said first-timers always overpay by at least 10% because they get rushed by the seller's agent. That stuck with me because I just signed papers on a 1-bedroom in Portland for $285k. Anyone else feel like they made a bad call right after closing?

3 comments

3 Comments

beth_reed5mo ago

Wait, did your realtor friend actually say first-timers always overpay by 10%? That seems like a huge claim without knowing the market. I mean, Portland's been cooling off a bit, right? $285k for a 1-bedroom sounds about average if it's in a decent neighborhood, but I'm not a local so I don't know. What part of town is it in?

sarah_patel255mo ago

Is it in a specific neighborhood or just "Portland" generally? Because that difference matters a lot, like if it's in a trendy spot like the Pearl versus out by the airport you're basically talking about two different cities. $285k for a one-bedroom in a decent spot actually sounds pretty normal to me for here, maybe even a little low if it's got good bones and parking. I bought my first place a couple years ago and definitely paid more than I should have, honestly it's just hard to know what's normal when you're a first timer and everything feels like a gamble. Your friend's realtor saying "always" is pretty bold, but I get the sentiment - there's this pressure to just get the offer in before someone else snatches it up. Hope it works out for her either way.

tara7935mo ago

lol yeah my friend got totally hosed on her first condo in SE about two years ago. Paid way over asking cause she got all nervous and the realtor just let her do it. She still jokes about it anytime someone mentions buying.