By Lydia Hallay, September 8, 2023
If you’re an aspiring first-time buyer, today’s real estate market can feel… OOOF. Between interest rates, rising prices, and competition betwen buyers- it’s hard not to feel discouraged. But with patience, grit, and a supportive team behind you- YOU CAN DO IT.
Take Elijah, for example. We first connected back in March 2022, and after exchanging some messages about his real estate goals, we met to tour as-is fixer in SW PDX that caught his eye. As we walked through the property, we reviewed the basics of the home buying process, and what to pay attention to when assessing a property- including the overall condition of the structure (roof, foundation, etc.), health of key systems (HVAC, electrical, etc.), and location (traffic, taxes, etc.).
With a budget of under $375K, Elijah knew he’d likely be buying a fixer. He hoped to find a detached dwelling with income potential that had projects he could mostly manage himself. Elijah was pragmatic about his price point- and willing to look within a 20 minute drive of Portland. Most of our search was focused on “the numbers,” Portland’s outer eastside.
As a client, Elijah was tenacious in his optimism. In our months of touring houses together (I lost track of how many we toured), we saw things many buyers would run from- including mummified rats, black mold, and…. human cremains. Throughout it all, Elijah remained focused on his big picture goal- to gain financial security, achieve an early retirement, & build life-changing generational wealth through homeownership.
After losing out on one house to a cash buyer and taking backup position on another- Elijah finally found “the one”- a cute bungalow with a big yard, near a beloved bike path.
The property had been sitting for a while, and had some readily apparent issues (including some foundation stuff) that we knew would scare other buyers away. We came in with an under-ask offer, then negotiated seller-paid foundation repairs and credit towards closing costs- keeping extra cash in Elijah’s pocket post-close.
Congratulations on getting keys to your new home, Elijah! Can’t wait to see what you do with this first jewel in your real estate crown.
Lydia Hallay
Broker | OR
She/They
Buying or selling a home is often one of the biggest (and most stressful) decisions you'll ever make. I'm here to make your experience as seamless (and fun) as possible...
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- T: 503-807-0156
- lydiah@livingroomre.com
