Naivete In Real Estate Market

 

This photo is from a year ago when we actually received snow.  We have had had zero this winter, but that's not what I want to talk about.

I'd like to discuss the state of real estate, not only here in Virginia, but in numerous states that people now show a great interest in living in as they make the decision to leave their current home state and move to a state that offers them something new that they will enjoy, especially as they retire.

Listen up.

If you are one of the many couples that are hoping to make a move over the next year, here are only a few of the things you need to know about today's real estate market.  Homes are not cheap, due to not only the effects of the pandemic when so many left the city life and headed to the more affordable countryside where the could have more space between their home and the people around them.  Their children could run outdoors without the threat of breathing in someone else's Covid germs.  Life could continue for their family as more normal than those who remained in the city.  I can't blame them for wanting what we had..... and so the housing market boomed with sellers asking and getting whatever amount of money they listed their homes for. Homes here in Virginia are still showing a shortage.  Those being listed now are rather dumpy looking and are going to require work to make them what you want them to be if we are being realistic.  

We all have a list of 'wants' or 'must haves' on our home buying lists, but you will pay big bucks to get everything on your list.... if that home even exists.  Let's face it, even when we purchased our home in 2013, this house was not exactly what we wanted, and we had only a choice of this house or one other on the market that was not a dump and with changes could be transformed into what we truly wanted.  We are still making changes after 10 years.  That's the reality in real estate.  Don't kid yourself if you are looking to buy an existing home, there will be additional costs to make it your dream home. 

We have added a deck to the back of the house.

Had new kitchen and master bath countertops installed.

Recently installed beadboard in guest bathroom.

Wired the entire house, both upstairs and basement for internet.

Completely re-did the large laundry room with all new cabinets, countertops, tile backsplash, sink, lighting and painted the walls.

Installed new wood floors in master bedroom.

Changed out the carpeting on the basement stairs and added a chatzkye shelf for photos along one side.

In the process of re-doing basement kitchenette with new cabinets, countertop, and backsplash

Installed new master bath shower.

Painted office, two bedrooms, basement bathroom(s) 

Had a lean two roof built over basement outside entrance.

Installed 6 new ceiling fans.

Paved both driveways and had stone walls and entrance columns built, added outdoor lighting everywhere.

Re-surfaced garage floor.

It's been never-ending and expensive too, but unless you plan on building a new house from scratch, then you can count on spending a lot of money if you purchase a cheap house and make it what you want.  You either pay for it now, or you pay for those improvement later, but trust me.... you will pay!

Don't be naive in today's market.

My hat goes off to real estate agents who try their best to find what their customers want; to work miracles where miracles do not exist.  I would not have the patience for dealing with and explaining the market and what's available to buy.  Some clients just don't get it.