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FIRST TIME HOME BUYER: TEXOMA HOMES FOR SALE

By Laura Filip

Real Estate Agent with Laura Filip Broker , Opening doors for All Seasons of Life TREC # 0488771

June 15, 2012 12:16 AM

Please enjoy the real estate tip included below. If you have any questions about this tip - or any other tips you may have heard elsewhere - please ask! There is no obligation and you'll hear back quickly!

Real Estate Tip:First Time Buyers
People who are selling their homes should know something about the market group from which their buyers are likely to appear. Many homes are perfect for a first-time buyer. First-time buyers are making a major purchase they have never attempted before, and may be unusually subject to the inevitable stress and anxiety that goes with buying a home.

First-time home buyers are usually younger (between 25 and 34 years of age) and have distinct buying patterns. First-timers are often looking for homes that are smaller, and perhaps older, than repeat buyers. The median home size for first-time buyers is about 1450 square feet. Approximately four in ten first-timers will buy homes built before 1960, compared to two in ten repeat buyers.

First-time buyers are in the process of developing a clearly defined sense of what they want in a house. They may not have enough money to buy their ultimate dream home at first, but seventy-four percent say they like their new home better than their previous residence.