Even in today’s tougher market, people are still starting out, moving, transferring and upgrading, selling and buying homes as they do. In fact, there are all kinds of different, still-common reasons that prompt browsers to become buyers, whether a first-timer or someone who has to sell and buy.
Whether you’re one of these buyers, a seller or just someone looking for some perspective on the real estate market, consider these circumstances that make people buy.
- 1. FIRST-TIME PURCHASE: It’s the American dream to own your own home, and many renters nationwide work toward that eventual goal. When it comes time to buy, these future homeowners start their hunt, looking for their first places.
- 2. NEED MORE SPACE: There’s a reason they call your first place your “starter home.” You start out with it, and, as your household and its possessions grow, you move. It’s probably the most common situation that makes people relocate. Lack of space prompts homeowners to start looking for something bigger, better equipped to meet personal needs.
- 3. WANT A NICER PLACE: Americans are known for wanting the biggest and best of things, and this is especially true of houses. Sometimes moving can mean getting a fancier kitchen or a larger closet, without the hassle of renovating.
- 4. RELOCATION/JOB TRANSFER: With today’s work force changing jobs several times throughout their careers, relocations are a part of life. Whether moving within the area, to be closer to work, or transitioning to a new state where a job is located, homeowners find themselves packing up and starting over.
- 5. LOCATION/NEIGHBORHOOD: Sometimes, moving can mean being closer to friends/family or nearer local conveniences. Alternatively, moving can give you a location further out from busy cities and out in the country. Similarly, as time goes on, neighborhoods change. For people who aren’t thrilled with the changes, moving may be the way to find an area they do like.
- 6. FINANCIAL ISSUES: Sometimes, a buyer may wish to relocate to downsize current mortgage payments. A growing problem nationwide, variable-rate mortgages and high interest rates have forced some homeowners to change living situations.
- 7. COMBINING LIVES: Shared living arrangements often go hand-in-hand with serious relationships and marriages. This can often mean one or both parties will choose to leave their current home(s) and find one together.
- 8. DIVORCE: Divorce is a reality today, and with it come the complications of home selling. Often, a couple will sell the home to arrange for the division of the proceeds.
- 9. DOWNSIZING: It can become increasingly difficult to maintain a large home, and different seasons of life prompt homeowners to downsize to condos, townhomes and smaller places.
- 10. RETIREMENT: As older age approaches, people want to retire to new locations or more easy-to-maintain residences. With so many adult communities popping up across the nation, the options abound!
What about you? Are you looking for your next place? Head over to Buyowner.com to see what’s available!
And if you’re also selling a home, consider using Buy Owner, the leading FSBO company in the nation, to help you market your home best!