Are you seeing a new phenomenon happening in our business lately?
A few years ago, buyers were buying only what they needed - a two-bedroom with one bath, and when they started accumulating too much stuff, they would call and need a larger home. Or, they had a baby, or adopted a dog, and needed a yard.
The buyers today seem to be planning for the future more when looking for the home of their dreams. My newlyweds are looking for a four-bedroom home (maybe even with a main floor bedroom for elderly parents), large yards in a school district they have already checked out. Even if they don’t have children.
Does this mean we will expect less “move up” buyers in the future? Many of my buyers lately have said they want to buy as much as they can, and after they close, they say they may never move again. Interest rates were very low, and most still buy under what they qualify for. They finish their basements, and call me when they are doing updates to find out what would bring them value. I have a listing now where the seller has lived there for 45 years!
It sure is nice they refer family and co-workers, because some of these buyers I won’t see as a client again. They love their home, and have no plans on moving!
Comments(15)