So you've heard that its a battle zone out there with buyers. You've heard stories about buyers putting in multiple offers on several properties only to walk away empty handed.
Having a solid game plan is the key to competing for a home purchase.
First of all, most buyers want move in ready homes. If you lower your price point anywhere from 5-15%, you can then complete the home improvements over time. Even if you're not sure if this is your "forever home", you can prioritize what needs updating. Can you live with the kitchen that's functional however needs a face lift? You may also find that other buyers may walk away from improvements. You've now eliminated a segment of the buyers and you have more control.
A solid home with "good bones", as we say in the real estate world means that the home is functionally, structurally and mechanically sound. If the foundation doesn't show cracks/water damage, the roof is under 30 years old and in good shape and the systems have been well maintained, you have your own "palette" to work with.
Knowing that a home is in the geographic area you are interested in and there's potential for appreciation, why not consider moving forward.
Cosmetic updates such as painting, restoring hardwood floors won't break the bank. Why let any more time pass you by when home prices will most likely continue to climb?