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Saturday, September 24, 2022

Real Estate Logic – Changing from a looker to a buyer

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Do you consider yourself to be actively in search of a home to purchase, or are you just looking? Most buyers were once people who thought of themselves as casual shoppers until the right house came along. This process of change can happen overnight or after a long and careful study of the real estate market. Here are some of the situations that prompt people to convert to motivated buyers.

EXISTING HOME NO LONGER TOLERABLE: Some buyers don’t necessarily want to move, but they feel that their present housing is not suitable. Maybe a location is not as convenient for present needs as it was before. Sometimes a move will occur because the existing house lacks an extra bathroom or bedroom that has become very necessary. Perhaps the kids have moved out or the family has become too large for the room available.

My wife and I downsized last year as empty nesters after 33 years in our family home where Pam originally insisted she would spend the rest of her life. I was more than shocked when she actually realized that we did not need such a large home and that it was time to let another growing family enjoy its many amenities including being just six doors from an elementary school.

A CERTAIN HOUSE BECOMES AVAILABLE: It is not unusual for someone to buy another home only a few blocks from their present property. Many present homeowners have their eye on a home they would love to own if it ever went on the market. Perhaps a friend’s house goes on the market in another area. There are, in fact, people who will move only if certain properties become available.

EMOTIONAL IMPULSE: I am a big believer in buying from your heart. Whether the place suits the needs and likes of other buyers, how do you like the place? Would you want to live there? Although a home purchase is a large ticket item, people do buy them on impulse. There are many examples of someone out for a Sunday drive who happens to notice an open house. Even though they had no intention of buying a home that day, they are committed to a purchase by Sunday evening. I know firsthand, because Pam and I did it when we were first married before becoming Realtors!

ADVICE: Is it the time for you to become a homebuyer? You may not know how to answer this question because you don’t have all the information you need. The best source of current data is your local Realtor®. He or she knows availability, values and financing. Ask him or her to look at your situation and value their expertise.

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Gary Leavenworth
Gary Leavenworthhttp://www.garyleavenworth.com/
Gary Leavenworth is a broker at Coldwell Banker in Naperville specializing in residential real estate. Contact him at gary@garyleavenworth.com.

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