Has your budget increased every time you look at a nice place/submit an offer? My current offer price is 20-25% more than what I initially wanted to spend 4 months ago. I’m in a bidding war and starting to get scared with this massive loan I will have to pay off for a long time. My agent has also been stretching my budget by showing me high-end units… my best and final offer is due tomorrow morning.

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If your agent is not respecting your budget, I would find a new one. The market is already creating an unreasonable sense of urgency. There's no need for your agent to do the same.

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To be honest, this was 90% my own doing and learning through the process. I thought I had a hefty budget but I’m starting to lean that I need to pay up more to get what I’m looking for. I find 80-90% of listing I want to see because my search criteria is rather unique and I check listing on apps a few times a day.

Keep to the amount that you are comfortable with.

Its a tactic for them to ask for final offers to get the buyer the most money. If you’re not comfortable with the amount, then don’t do it. Because it’ll hang over your head a lot longer than the 4 months of negotiations on different properties

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That’s what I’m trying to tell myself. I know my offer is slightly higher than the other offer now but the other offer is all cash. My price seems to be pretty close to what the seller was initially looking for so part of me thinks I may still have a shot and other part of me thinks am I willing to lose this for 10-20k. I know I won’t find a unit like this in this location…

Big difference between feeling like you’re being lured in versus just becoming realistic about what you want costing more than the budget.

I stretched my budget quite a bit, but realized I wanted an office area in a condo and it just wasnt gonna happen for what I budgeted because of the competitive bidding.

On the flipside if the agent is just creeping you into more ad more luxurious places that exceed what you’re asking it may be time to put your foot down

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Part of that increase in budget is because of the crazy market we’re in. House prices have gone up a lot over just the past 3-4 months which isn’t normal.

This whole situation (not just you) is why I can see a whole clusterf in a year or two if we start to see a downturn in the economy. I was in a similar situation a few months ago and we paid 10-15% more than what we planned.

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