Timing is everything.
As long as they aren’t in a hurry they are likely going to be fine, but if they need to sell and sell quickly and get stuck trying to do it in a downturn they can get hurt.
Short of something making the location of the house suddenly undesirable which is beyond there control… odds are good they will be fine if they don’t wind up in a position where they must sell quickly.
A major market downturn may mean they have to sit for years to get what they feel they need out of it.
Real estate is a fairly safe long term play, but timing always matters.
Timing is the key. They did bad timing all around. They built when prices for raw materials was at its peak.
The problem is they built a luxury home with a 1,200 square foot living room but only have three small bedrooms and two bathrooms.
Their reasoning is the next buyer can just remodel it to their desires.
If you’re spending $1,000,000 for a house you’d expect more beds and baths than that. Remodeling the house to make it normal for its size is a real turn off.
And most people don’t want to pay extra to have a space for a Greyhound Bus.