As brokers we don’t typically have a reason to go into an apartment these days unless it is to meet with buyer prospects who live in one. Have you seen the apartments they are building these days?
I totally get it, why build the cheapie old school apartment when for a relatively small amount more the developer can build a “luxury” apartment, charge a lot more rent and probably keep tenants longer.
The challenge is when you try to help young people living in these apartments move into a starter house they can afford. It can be a shock.
The starter home doesn’t have the garden tub, stainless appliances, granite counter tops, big closets, etc.
In most cases young people are polite enough not to say it out loud but you can read it on their faces, “You want me to move into that?”
New construction and houses that have been extensively upgraded are usually well above the apartment dwellers budget.
I don’t fault the apartment developers or those who prefer to live in them. But it is taking some new education on the front end to help these potential buyers make the change and see beyond the immediate sacrifice.
Are you finding it a “challenge” to move “luxury” apartment dwellers into starter houses?
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