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Hindsight and experience is always 20/20.
We have friends who were looking at a great detached in Vancouver. Lot was ~33x130ft, two car garage + car port, house was built in 2000, with a two bedroom basement suite and house was in move in ready shape (it was 2000 dated, but it was clean). The seller offered the house at $1.99M and our friends offered $2.05M (This was around July 2021).
The sellers actually wanted $2.1M and my friends just passed on it. It sat on the market for another month and it finally sold.
It was a solid house and their budget wasn't even stretched, they could go up to $2.2M, but they didn't think it was worth $2.1M.
At the time I told them $50k on a $2M house was nothing, but they were adamant the house wasn't even worth that much.
Fast forward to today where they still haven't found a house and they're kicking themselves because $2.2M in Vancouver right now doesn't have much.
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