Let's say we've been looking for homes for a while, you have made some offers, but have missed out on several houses in multiple offer scenarios.

Then, you find a house you really like, but the price is higher than you think is reasonable in the current market.

You make an offer... and the seller counters back, indicating they won't come down any lower on the price.

Now you have a decision to make.

The home seems perfect, or close to it, so it's tempting to just stretch a bit further on price, and then maybe a bit further after that.

But, sometimes it's OK to let someone else buy the home.

The best time to think about the highest price you are willing to pay for a house is before we make that first offer. When you're in the midst of negotiations, it can be tempting to keep agreeing to pay a bit more and a bit more.  But if you've already decided what the most you're willing to pay is, the decision can be easier and clearer.

So we talk about that number early, even while acknowledging that it might be a different number for different houses. What's the most you'd pay for this house and still feel good about it and comfortable with it? 

It won't always feel great to let a house slip away because you are not willing to go as high as a seller wants to go, but you will often have some further affirmation of that decision after the fact.  In most cases, another great option is going to comes along. 

Holding your line on what price you are willing to pay will allow you to be comfortable with what you are committing to when the right house comes along at the right price, for you.

Let's plan to talk through where that line is, on price, for any house where you're getting ready to make an offer.