Parents Say Kids’ Opinions Matter Big When Buying a Home
A recent survey conducted by Harris Poll and released by SunTrust Mortgage found that “55% of homeowners with a child under the age of 18 at the time when they purchased their home said that the opinion of their offspring played a major role in their home buying decision.”
When the results were broken down by the parent’s age, millennials (those 18-36) led the way with 74% of homeowners saying that their child’s opinion was a factor in choosing which home to buy. Eighty-three percent of renters believe that their child’s opinion would be a deciding factor when looking to purchase a home.
So what features in a home are most important to kids?
Coming in at 57%, it should come as no surprise that gaining their own bedrooms was the top most-desirable feature of any home for kids, followed by a large back yard to play in at 34%.
Todd Chamberlain, Head of Mortgage Banking at SunTrust explained the reasoning behind the survey,
“As a parent of two kids, I know from experience that including children in the home buying process is not only fun for the whole family, but also educational for our homebuyers of tomorrow.”
If you’re thinking about selling your home this year, make sure to highlight all the kid-friendly features your home has to offer so that you can sway the real decision makers. To discuss your personal situation and needs, contact San Ramon Real Estate Expert Jason Kerner at 925-400-7007 or http://www.KernerHomes.com
Getting Pre-Approved Should Always Be Your First Step
In many markets across the country, the number of buyers searching for their dream homes is far greater than the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. If you need help figuring out what you can afford, give me a call and we can crunch some numbers together. As your local Broker/Realtor with 16 years of full-time experience, I am happy to help. Text or call 925-400-7007 or visit KernerHomes.
Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”
One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”
Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:
Capacity: Your current and future ability to make your payments
Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
Collateral: The home, or type of home, that you would like to purchase
Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so. Give me a call and I can help make this process as easy as possible. Let’s put my 16 years of real estate experience to work for you. Call or text 925-400-7007 or email me at firstname.lastname@example.org
Shopping for a home has evolved over the years. Here’s what you need to know about the new generation of buyers.
For years we’ve seen the shift in Baby Boomers ditching their large suburban homes for the excitement of urban life. And we’re noticing the reverse from millennials: leaving behind small spaces along with the hustle and bustle of the city.
They’re open to a new world of suburban living, with single-family homes, more storage and closet space, and some outdoor space all their own.
These millennials, born between the mid ’80s and the late ’90s, came of age in a shifting cultural and social environment. Their experiences aren’t the same as their Baby Boomer parents, and as such, their preferences differ from those of their parents, who bought a generation ago.
Here are some real estate considerations to help you sell to millennial buyers.
Millennials are busy
Today’s young people work long hours, and they want to spend the free time they have with friends and family.
They’re also more transient than their parents’ generation. So, when it comes to real estate, many of them seek turn-key homes for quick and easy move-in. They can’t fathom taking the time to undertake renovating a bathroom or kitchen.
No matter how great the opportunity, many of today’s buyers aren’t interested in painting or “making it their own” as our parents did when they moved into homes they planned on living in for 30 years or more.
Home searching is like dating
Millennials grew up attached to their phones. They hail a car and order food with their fingertips. And now, instead of meeting at a bar, they date with their thumbs. Swipe left for the potential mate, or reject them by swiping right.
When it’s time to buy a home, their experience is much the same, thanks to smartphones and real estate apps. As a home seller, you and your agent must invest an incredible amount of time and money on your home’s photo shoot. If you don’t, you may never get a first “date” with your prospective suitor. If the buyer isn’t drawn to your photos, they’re on to the next place.
Bigger is no longer better
In the ’80s, a McMansion with quadruple master closets, oversized Jacuzzi tubs, formal rooms, and large basements were a sign of success, and coveted by home buyers.
Today, millennials want smaller and simpler homes on smaller parcels. Bigger houses or any land more than half an acre equals more work and maintenance to these first-time buyers, accustomed to the easy life.
You can’t make your home smaller, but if you are serious about selling and want to account for this trend, your price will need to meet the market.
Location matters more than ever
Millennial buyers want the urban experience, as best as they can get, in the ‘burbs. This means homes that are walking distance to a village or town, near the train, and in bustling neighborhoods are among the most popular.
While being away from town, secluded, and with more land was a status symbol in the ’80s, it’s a deal killer today. Unfortunately, you can’t move your home to a better location — but you can adjust your price to meet the market.
If you’re a Boomer selling a long-time family home now or in the future, and the millennial is your potential buyer (think: customer), you need to adjust your mindset to meet theirs. You can’t assume that anything related to your original home search applies today. Get ahead of it, or your home may spend many months (or even years) on the market.
If you are considering selling your home in San Ramon, Danville, Dublin or Pleasanton, give Jason Kerner a call. Jason is your local Realtor expert. Jason may be reached at email@example.com or 925-400-7007. Visit www.KernerHomes.com for more information.
A successful real estate professional since 2002, Jason Kerner has built a stellar reputation with his client-focused, service-centric approach and impressive track record of sales. He is distinguished in field with many accomplishments, awards and advantages that set him apart:
A San Ramon Real Estate Expert offering attractive fees and the highest net
A Certified Residential Specialist (CRS) representing the elite top 4% of the industry
Facilitator of multiple home purchases and sales in Windemere, Gale Ranch, Bridges, San Ramon, Danville, Fremont, Pleasanton, Redwood City, San Mateo, San Carlos, Mountain View, and Cupertino
ePro Certified from the National Association of Realtors for being a leader in Real Estate technology
In late 2014, Jason became Co-Owner, Co-Founder and Managing Broker of NextHome Premier Realty Group, one of the leading local real estate offices in San Ramon Valley with over $140 million in sales since January 2015. He segued into this role after years of recognition as a consistent top producer in the San Ramon area at Remax Accord.
Jason has excelled in brokerage and earned top-tier awards because he always serves the best interest of his clients. That is why his properties consistently get more exposure and sell for higher prices than the competition.
His high-tech background in Silicon Valley prior to real estate taught him to keep a close eye on trends and capitalize on technology to research and market properties most effectively. This command of technology that includes social media, 3D tours, HDR photography and other cutting-edge marketing vehicles gives him a distinct edge.
Clients just as much appreciate the personal attention, custom service and negotiating skills Jason brings to their transactions, which are essential when one’s greatest asset is involved. He employs a low-pressure, consultative style that empowers sellers and buyers to make the right decisions; yet he is aggressive when it comes to fighting for his clients’ needs and negotiating the best terms.
A Los Angeles native, Jason has lived in San Ramon for over 11 years. He is married with two daughters, is actively involved in his community, and has a variety of interests such as cycling, basketball, and wine tasting.
Whether you are looking to find your dream home or sell your property for top dollar, trust Jason to make your transition, and transaction, as smooth and rewarding as possible. http://www.KernerHomes.com or 925-400-7007
Hire the San Ramon Realtor Expert and Sell For More. Over $33 Million Sold in 2016 Year to Date. #1 in Client Relations With Tons of 5 STAR Reviews. “What sets Jason apart from others is his experience. Anyone can take pictures and list your home on the MLS, but experience is what matters most. Jason guided me through every step of the way, from marketing my home to negotiations and even what to do when things go wrong. Our buyer’s lender made a mistake but Jason was able to get everything back on track without me having to worry.