Vision + Patience = Dream Home

There was a time when younger, cash-strapped buyers sought out the "promise" or "potential" of a home they were considering for purchase. Today's more affluent, first-time buyer (steeped in an instant gratification, need-it-now culture) has created a new and, in many cases, impossible housing demand: "perfection." They want their parents' home now.

Sometimes it seems what drives this urge is that many such buyers have little or no vision for a property, let alone the patience to wait for that turn-key dream home they pine for; or to gain some sweat equity and market appreciation over time from a lowly starter home.

With so many great deals out there on so many homes, it might make sense for young buyers to put dreams of perfection on hold and to look closely at the true value of properties they tour. Buy low/sell high applies to real estate as well as stocks, so now is the time to seek what you need at the right price, rather than everything you want for more than you can realistically afford.

-M.