So, my partner and I bought our first house back in 2021 in Massachusetts. Our budget was about 300,000 bucks, and we managed to snag a place listed at 295,000. We sweetened the deal by asking what it would take to cancel the open house, and ended up offering 310,000, which was what they were after. Talk about a whirlwind – we got word back within hours that our offer had been accepted. This was only the second house we had made an offer on.
Fast forward to this year, starting in January, we began the hunt for our second home. We stuck with the same realtor from our first go-around. People kept telling us that interest rates were up, but the market wasn’t as wild as it was in 2021 when homes were flying off the shelves in less than a day. This time, we set our sights on a budget of 500,000.
We’ve gone out to check out 10 different places and put offers in on 5 of them. And let me tell you, our offers are solid – 20% down, 20-50k over the asking price. The only conditions are the inspection (which is a no-go to deny in Massachusetts now) and the appraisal (we’re willing to cover any gaps up to a certain amount). We’re not banking on selling our current place, and we’re flexible on closing terms, whether it’s short, long, or even rent-back options.
But here’s the kicker – we’ve been turned down all five times. The market isn’t looking any better, it’s actually gotten worse. It’s frustrating because we’ve got our financial ducks in a row and minimal contingencies. We’re just looking for a place with a bit more space and a better location than what we have now.
A lot of folks might think I’m seeking advice on how to land a house, but that’s not it. This is more of a vent sesh to say that the housing market isn’t just tough, it’s downright broken. If folks are expected to shell out an extra hundred grand on top of the usual 20% down payment, then something’s off. Regular middle-class families should be able to buy a home without breaking the bank. If that’s not doable, then the whole system needs fixing. This isn’t about tips and tricks to snag a house – it’s a call-out that the current process is