As Home Price Increases, So Does Pickiness


As Home Price Increases, So Does Pickiness
By Scott Rogers • March 2, 2018
Here's one thing I have found to be true of most buyers.... As the price of a home increases, so does a buyer's desire for that home to be a wonderful fit for their needs and wants, both now and in the future. And it makes sense -- 1. If you're buying an expensive (fill in your own definition here) home then you are likely to be planning to stay for a while, and thus the home should work quite well for you. 2. If you're buying an expensive home, it is a major investment (or more major than if it was a less expensive home) and thus you want to make sure the home is exactly what you want. 3. If you're buying an expensive-ish home you could probably also consider building a home -- which would give you exactly what you want in a house -- so the resale home you are considering better come darn close to that ideal. Anyhow -- this is just what I consider to be a reality of buyers considering the purchase of higher end homes. Some of the resulting implications are.... 1. Buyers of expensive homes often spend more time in the home search process -- waiting for "the right" home to come along. 2. Sellers of expensive homes should expect to hear "it just wasn't a good fit" quite a bit when asking what buyers thought after viewing the house. 3. Buyers of expensive homes are typically willing to be very patient in waiting for the ideal fit, as it is a big investment. 4. Sellers of expensive homes sometimes have to sell for less than they feel their home is or should be worth -- if there aren't any buyers (over a prolonged time period) for whom the house is an ideal fit. Oh, and one last note, this correlation between price and pickiness does not necessarily extend in both directions. Buyers of lower priced homes are not universally non-picky or hasty to buy or overly willing to compromise. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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