Gonna follow this post because I'm a first time home buyer as well, but I'm getting a condo in the $250 or less range. My mom is helping me with 70k for the down payment while I'm in nursing school (she would be giving me the same amount of money or more for 3 years rent anyway, but if I rent she will never get that $ back), with the stipulation I will pay her back when I sell and she gets the tax writeoff. I've seen about 30 places so far, but half are extremely nice and half are not very desirable. We won all the offers we put in for the places that needed some work or updating but we've had to pull them all due to things like 1.) Lead paint so couldn't do the updates we wanted 2.) one had downright crazy HOA rules and 3.) another had an underground oil tank and the sewer line was leaking.

My mom wants to go with one of the really really nice ones (brand new renovated gorgeous units), but isn't willing to bid high enough based on whatever asking is. Hard to explain but for example she will make an offer for $235 on a place asking $225, or $250 on a place asking $240. But then if my realtor says a place will go for X amount over, she won't do it and we lose the place. One asked for $215, my realtor pretty much said we're wasting our time if we didn't offer at LEAST $235... but she went with 225. One place was a newly renovated 1250 sqft 2bed/2bath...they were asking $219, but offered to cancel their open house if we would do $225 because they just closed on their new home and were desperate to sell. She said no, we wouldn't go over $222, they can go ahead and have the open house and shes willing to gamble. It seems hard for her to realize that people are asking low to get people in and start wars, so we can't focus too much on asking price. If it was up to me I'd take the advice of the realtor, but it's not. Maybe I'll make my own post lol but if anyone giving OP advice has any for me as well, I would love to hear it!!