You’d be surprised to know that in our current market there are many different kinds of home buyers (and consequently, home sellers). This should tell you something — that the market’s largely dictated by who you are. And if you don’t know who you are as a home buyer, you’re basically jumping into an ocean without a life jacket — pretty dangerous.
Know What Kind of Home Buyer You Are (or Rather, What Kind of Home Buyer You’re Supposed to Be!)
The beautiful thing about the budding real estate market we’re seeing right now is the ability of resources to gather data and try to make some sense out of the metrics. What houses are selling? Why are they selling? What’s trending? What’s hot in today’s market? How do you think people find out the answers to these questions? — surveys, metrics, data, information.
Know the info, and you’ll know the market. Plain and simple. That’s home buyer 101, the first thing you learn. In order to know the info, though, you have to know where you fit in as a home buyer. Here are the current ‘types’ (for lack of a better term):
The Silent Generation — Believe it or not, but this generation’s still kicking around the market and not enjoying Bingo at an old folk’s home, and here’s the proof.
Four — count ’em — four different types of home buyers. This makes it complicated. Especially for a home seller. Especially given the fact that by default this brings to the table four different types of home sellers out there. Forget the difficulty of finding the right person for a relationship! Knowing what you want in a home is one thing — knowing if you’re dealing with a millennial home buyer, or a gen-x home buyer, or a baby boomer, or one of the ‘silent’ ones will determine whether you sell that home, buy another one, or just opt for home renting.