How old were you when you purchased your first house?

By
Title Insurance ePro, MBA

Question Mark I saw an interesting Facebook post asking the question, How old were you when you purchased your first house?” Interesting question when you come to think about the demographics of the individuals looking to purchase their first house and the demographics of the Real Estate Professionals who are selling the house.

  • What is the age of the current first time home buyer and how do they utilize technology?
  • Text and don’t answer their phones?
  • Use Social Media like Facebook to communicate rather than email?
  • Use Instagram or Pinterest with all the photo and video capability?
  • Rely on testimonials, references or referrals from the best friends or parents?


The next question comes from the perspective of where I come from -- Did you purchase title insurance?  Did you even know what title insurance is?  Do you know what title insurance is now years after your purchase of a home?

Think about how old and how connected that first time homebuyer is and how you use technology to get connected and communicate with your clients.

I would be interested to know -- How old were you when you purchased your first home and did you even know what title insurance was?


Posted by

Make it a profitable day!

Scott Hoen

SHoen@FirstAM.com

Direct:  (714) 250-5014

Cell:  (714) 270-9607

"The Views expressed herein reflect only the individual's personal views and are not the views of the author's employer."

Comments (5)

Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I was rather young and purchased my first home at the age of 21.

Jun 21, 2012 02:12 AM
Susan Neal
RE/MAX Gold, Fair Oaks - Fair Oaks, CA
Fair Oaks CA & Sacramento Area Real Estate Broker

Tim has me beat.  I purchased my first home when I was 22  I'm not sure I knew anything about what I was doing.  I just signed the paperwork that they told me to sign and moved in when they gave me the keys.

Jun 21, 2012 02:15 AM
Scott Hoen
Carson City, NV
VP, Nevada State Manager, 714-270-9607

I was 22 as well and I remember the agent I dealt with was probably over 50.  In today's market, I am not sure if I would have connected with that agent and I didn't know what all the closing costs were and what they paid for -- I knew my down payment and monthly and received the keys to move in.  The market is changing -- the Internet is making the first time home buyer more tech savy and being able to lookup information on the Internet instantly with all their questions.

Jun 21, 2012 02:33 AM
Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

I was a little older I was 26 we had title insurance and knew what it was. You are right times are changing and the First Time Home Buyer is more educated in today's market.

Jun 21, 2012 02:55 AM
Mike Young
203kOnLine.com, covering the USA - Las Vegas, NV
FHA 203k Consultant 916-758-1809

I think I was 24 and yes, since my monther was a Realtor she indicated I should have title insurance so I went with it, 150+ properties later I had insurance on everyone of them. I purchased the short coverage when I knew I was going to sell the propties right away and got my money back at the time of the sale except for the 10% premium that was paid. 

Aug 29, 2012 11:56 PM