Four Tips For Working With a Single Home Buyer

 

According to a finding from the Bureau of Labor Statistics data, more than 50% of adults were single last year. This marks the first time since 1976 that single adults accounted for more than half of the population. And the Harvard Joint Center for Housing Studies has determined that many young adults are purchasing a home before marrying.

This changes the reasons people buy a home as well as impacting how people obtain a mortgage. The single male or female working American is not necessarily motivated by family needs (now or planned) to make that first home purchase. They may be purchasing solely for financial investment reasons, or may be protecting themselves from rising rents and the whims of landlords.

What can we say about the single home buyer?

  • They are tech savvy and will start online before they talk to a real estate professional.
  • They don’t have the need for as much interior or exterior space as a family.
  • Surprisingly, they may prefer a house to a condo because of privacy.
  • They may look for a home near lifestyle factors and amenities instead of a high-rated school district.

How can you assist them during the home-buying process?

  • Advise them of the need to acquire pre-approval from the mortgage lender of their choice.
  • Be knowledgeable about local property values and investment opportunities.
  • Be thorough when explaining the offer and contract process so they understand how negotiation works.
  • They may ask more questions – answer them with patience and clarity.

Even though the buyer is single, they may bring a trusted family member or friend along to view the houses with them. If that’s the case be sure to have materials for that person to look at as well. After the closing, follow up and maintain the relationship. This buyer may be your next seller!

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Do I Really Need a Real Estate Agent?

When buying your Florida dream home - do you really need a Realtor®? Many people move from other areas to Florida after vacationing here for many years. When they are anticipating the move they search a real estate listings website and look at many homes on the Internet. They’ve done a lot of homework before they even get in front of an agent.

At that point, what’s the agent’s job? There’s a lot more to it than you might think! For one thing, the agent is an expert in this market and knows things the prospective home buyer does not. These may include:

  • · Proposed improvements to the area or,
  • · Proposed development that might negatively impact the value,
  • · Other similar homes that have just come on the market,
  • · Economic conditions in the community,
  • · How local lenders view that type of property,
  • · The State of Florida real estate laws

Most important, the agent can negotiate for you without becoming emotional. Buyers and sellers can get caught up in the moment of the sale and let their emotions rule their actions. A seller may insist on overpricing a much-loved home. A buyer may be too quick to put a big offer down on a house they’ve fallen in love with. The art of negotiation is something your agent is trained in thoroughly and the agent knows that you want the house, but you want it at a fair price. If that agent is looking to earn your repeat business they will do their best for you on this deal.

When you’re ready to buy trust your licensed Realtor®. With a RE/MAX agent you know you have the best training and professionalism. If you choose RE/MAX Flagstaff you know you’ll have the best team in Flagler County helping you! Call 386-246-8585 and get ready to buy your Florida dream home.

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