re: New home owners

My advice is to keep an open mind. Don't write off a property just because it doesn't meet all your wants or needs a little work (especially something as easy as paint/flooring, etc). My wife and I went to an open house last summer and both walked out not liking the house at all. When the price dropped significantly a few months later we went back and walked around again..and bought it a few weeks later

Also, don't be afraid to think outside the box.. I've purchased two foreclosures and an estate sale. For the right deal you can build equity quickly. Your first house doesn't have to be your last house. Find a good deal in a good area, work on it a few years, sell and move on to something nicer if that's your ultimate goal.