We bought our first home when I was pregnant with our twins. We needed a large home, on a small budget, and we needed it before I literally burst. The home we found had almost everything we wanted except it was on a busy street and a total mess inside and out. But with paint, carpet, lots and lots of cleaning, we knew could make it our own. Our Realtor was skeptical of our decision, and apologized he couldn't work the price down lower even lower. It was the right home, at the right time, for the right price for us. Since this home was in California and we sold before prices slid - it was in retrospect a VERY good value.

Fast forward to our next home purchase. We had one weekend to find a home before my husband's job move. We found the perfect home. As all good house hunters do, we looked at the comparatives and came up with a decent offer. Unfortunately someone else had the same idea at the same time and we would have to up our offer. We weighed the value of the home against what we were looking for, how it met our needs, and that losing this home would mean another flight, hotels, rented cars and stress! At the time we had moments of "we paid too much", but in retrospect it was the right home for the right price for us.

In today's market it is important to work with a Realtor who can give you the facts, show you options and give you comparatives. It is then up to you to decide value. What is important to you? What does your family need? Where do you want to live? What factors make this home worth what you are paying?

Of course then the appraiser will give you their opinion of value - but that's a whole new blog!