They may buy high but they sell high, too, so it's a wash. In a robust economy many consumers are similarly self-indulgent. They're skipping that first step. Five or six years ago everyone was willing to dig in and fix up a home. So he revised the designs to include luxury fixtures, lavish bathrooms, larger garages and posh finish materials.
Life is short and people are going to enjoy.
Homebuyers must be nimble in a seller's market like the one Metro Detroit is experiencing. And don't confuse that with prequalified, which is only an informal estimate of how much you might be able to borrow. A preapproval means the lender you've chosen has run a credit check and otherwise analyzed your finances and has indicated they are prepared to lend to you. Be flexible about negotiable items other than price. Willingness to accommodate such requests can make you stand out from other buyers.