Home buyer tip: buying the right home means understanding your needs and your planned time frame for living in the home. Experienced buyers agents want to ensure that your needs do not outgrow your home before you are ready to move.
As home buyers, it is important to be realistic about your current lifestyle, and your future. Planning makes the difference in a home meeting your needs, and needing to sell before you are ready.
The three most common reasons to move are: “moving up”, family, and work.
According to the Current Population Survey, the number one reason for a move is housing: moving to a better home in a better neighborhood. The second most popular was family related, which accounts for about one quarter of moves. Under 1/5 of moves were work related.
How will these factors be changing in your life? How will they impact your ideal home? Talk about your future with your exclusive buyers agent so that you can find the right home.
Exclusive Buyers Agents ask about home buyers’ future to find the perfect home.
* How long do you expect to live in this home? Under a year? 3-5 years? 30 years? * Do you predict any changes in your family? New kids, pets, spouses? * Are your needs going to outgrow your house? Are you planning to purchase another car, boat, etc . that will require more space? * Are you planning a major career change, or working in a different location?
These lifestyle changes will impact the location of your home, the size of your home, the floor plan, and of course, the price, suggests our exclusive buyers agents. For example, if you have a young child and plan to stay in the home for a few years, you may need to consider the schools that are nearby.
Certainly, some of these things can’t always be foreseen. But, the more honest you can be with your exclusive buyers agent about how long you want to live in a home and what your needs will be during that time period, the more likely you are to avoid selling during a bad time.
Buy in a Buyer’s Market, Sell in a Seller’s Market
If only it were so simple! We have all heard the phrases “buyer’s market” and “seller’s market,” and their financial impacts on homeowners. Wouldn’t it be nice if there was a sure way to predict when the market will change so that you could sell during a “seller’s market?” Experts differ on predictions of when the market will change. But, they all agree that it will change.
Agents who have seen many booms and busts recommend that historically, once the market goes down, it has gone up higher than the one before. Living in your home for a few extra years before a move can allow you to sell at the right time, and make some money.
Careful planning about your future will allow greater flexibility when it comes time to sell.
Home buyers can find additional resources or connect with exclusive buyers agents at the Colorado Exclusive Buyers Agent Association site: http://homebuyerscolorado.org.
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