[quasi]

Originally Posted by PeanutButter

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.

I almost did same thing December 2019 before Covid kicked off and market was a bit more stagnant, sold our house and wasn't really much we liked available. In early negotiations I walked away from the house I ended up buying over 50K and was just going to rent and jump back into the market later, this house had been on the market for 4 months.

It was only because I couldn't find a decent rental I got pissed off and told my Realtor to get the deal done, I've gained at least 600K on paper in the last two years, imagine how mad I'd be right now if we found a rental?