I am no different. I love House Hunters. In fact, I have had dreams (don't get ahead of your self here) that Jonathan, the contractor, has come to my current house and added walls, removed a fireplace, replaced flooring, reconfigured my master bath and the list goes on. I really wish I could win a house makeover with Jonathan. I am not too sure what I want from Drew because I am a Realtor so maybe I will take him on listing appointments. Wouldn't that be great?
Actually, House Hunters really isn't too far off as far as reality shows are concerned. What rings true is that buyers are not always sure of what they need and want until they start seeing homes that are available to them in their price range. It is very typical for couples to think they are the same page as far as needs and wants but that changes many times over during the process. Sometimes I can take buyer clients to three homes and they will be able to make a decision on a property, we submit the offer and boom, they have a new house. Then again, there are couples who will see 20 properties and still not be able to agree on a home. The amount of homes and time spent looking at homes really varies from couple to couple or person to person.
So, why do some people take so long to find their home and others can find it quickly? I think it comes down to a couple of things: one being budget and two compromise. There are many many many compromises you make as a couple when making an investment such as a home. When my husband and I were looking for the house we were in, I felt that I liked it enough to put an offer on it. Jeff, liked the house because he felt it was perfect for our budget and it hit many of our wants and needs. I didn't fall in love with the house right away. I liked that I wouldn't have to pay rent anymore. I liked that it had a pool. I liked that the floor plan was split and felt like it would be a good home in a decent area for this stage in our lives. All compromises!
There really are different types of buyers. For starters, there are first time buyers where most often it is finding them something they like for a price they can afford. First time buyers seem to be a bit more savvy than we give them credit. Many first time buyers I have worked with have been approved for WAY more then they actually spend on a house. I believe they watched many people lose their homes over the past 10 years or so and have learned a valuable lesson. The lesson would be to NOT overextend yourself. If you are comfortable paying $1000 rent plus utilities, car and any other bills you have a month, then don't make a huge house purchase that will double what you are currently paying for rent. I worked with a first time buyer who was approved up to $280 thousand dollars but didn't want to pay that mortgage based on that loan amount. So, his first house was more like in the $180K with a very manageable mortgage payment. I always tell buyers to make sure you are able to maintain the same lifestyle as a homeowner as you did while renting. You don't want to make too much of a change in your spending habits because you don't ever want to have to walk away from your home while the bank takes it over. That is not a good feeling on many levels.
Next, there are the buyers who are on their second or third time purchasing a home. A couple of things could have happened here from the first time they bought a home. Most often a couple buys their first home and they don't have children. Add children to the equation and now you need room! It's amazing at how much space these kids need. Living situations change all the time whether it is having children, your children moving out, parents moving in, divorce, your college graduates moving back home and so on. This group of buyers is pretty specific as to why they are buying based on budget, wants and needs!
I love house hunting. I love to work with people and help them make the BIGGEST purchases in their lifetime! I love to see the look in a homeowner's eyes when I can give them the keys to their new home. Seriously, it is really such a joy. Heck, I get excited when I can get an offer accepted on behalf of my clients so you should see me when I get to hand the keys over to them! During the home shopping/hunting stage we really form a great relationship, then they buyer's are "stuck" with me for at least another 30 days while we are going through the home buying process. Actually, those I have worked with in purchasing or selling a home are pretty much stuck with me at some level! Lucky them, huh?!
If you have a PhD in HGTV or you never have watched any shows on that network, call me. I would love to be your real estate agent in your next purchase or sale of your home. It is really my goal to make the process as stress-less as possible for you. I can't guarantee you won't experience some stress but I can guarantee that I will always try to reduce stress by providing guidance, data and resources to help you make the best and biggest financial decisions!
A funny for you! Funny...but true for most of us!!
Till next time peeps!
Camille
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