I'm a buy and hold investor, looking to purchase my next primary residence and turn my current into a rental. The problem is, nothing seems like a deal. During and pre-covid, prices and interest rates were both lower, while rents were not that different from today. It was possible to find a property in a decent area that would cashflow immediately, or you expect to cashflow relatively soon. Now, everything that I look at in places that I actually want to live would mean carrying a mortgage significantly more expensive than renting. It would only break even if prices went up significantly more than they are now, or interest rates dropped enough for a large refi. I think both of those outcomes are unlikely. It seems like the market is softening a little bit , but the gulf between what sellers are willing to sell for and what I am willing to pay is still too large. Not posting this as a rant. I want to get honest feedback on if it makes sense to sit on the sidelines for a few mor...
What is a house or land feature that wasn't put in the listing, but if it was, it could have increased the asking price or triggered a bidding war?
I ask this because I lucked out on a house I recently purchased in San Francisco. The housing market in the city is cutthroat and street parking is a musical chairs of memorizing all the neighborhood street cleaning no parking schedules. The listing didn't say the house was on a private street. It wasn't until our offer was accepted that we got the property lot lines showing we would be also getting an easement for the street. So now we "own" the 24 foot portion of the street and sidewalk, allowing an extra parking spot that is exclusive to us. I believe if this was in the listing, we might have been outbid past our budget because parking is a premium in the city. One of the neighbors even rents their spot out to a person that lives a few blocks away. The house already has a 2 car tandem garage, so now we can free up a room in the house by putting the gym equipment in the back of the garage and I can keep my pickup on the street, allowing my spouse to park in the g...