Buyer fatigue: Why you should still own an Albuquerque home

by | Jun 24, 2021 | Albuquerque Real Estate Talk | 0 comments

Buyer fatigue: Why you should still own an Albuquerque home

(Transcript Snippet): “Tego:

What’s what’s going on with home buyers right now.

Tracy:

Sure. So buyers in general are getting fatigued, right? They’re out looking at houses. They fall in love with the house. They can’t sleep all night. They’ve got an offer in on it, but then there’s 10 other offers in on it. And they get the call that they didn’t get their offers selected. And so they go back out and look at houses again, fall in love with another house. They put another offer in there’s a bunch of offers on it. They don’t get the house, right? So this is happening. We had at our team meeting this week, you know, one client got their house under contract as a buyer that was their fifth offer that they had made right on the house on a house. And it was finally, they are, we’re the ones selected, but we’re seeing buyers say, I’m just going to wait it out.

Tracy:

I’m going to wait for the market to slow down. I’m gonna take a break and not, not look at houses and just give up. And we were like, don’t have buyer fatigue. I know it’s hard and it’s frustrating, but we need to remember what about having a home and owning a home is important to go. We know there’s lots of financial reasons why home ownership is important. Right? I get to go through the list. Yeah, not right now, but there we’ll go through them, but let’s talk about the other reasons, right? What are the other reasons besides the financial benefits of home ownership, right? You have pride in your community. When you own a home, you can make the house what you want. You can paint your bedroom purple. If you want. You can invest in, in an outdoor living area that you’ve always wanted or a big garden, and know it’s yours. You can do all these things and have that pride of ownership. You can be making memories in that home. You know that, you know, your family’s going to have memories there and you’re not going to be having to find a different place to rent, whether it’s an apartment or a house go through this list real quick. Oh, sure. I’m just going off my own

Tego:

You’re just going to off the top of your head. But these are just, just some things to think about a reason for home ownership, I guess the best way to put it. And, and you know, when you think about, I know a lot of people out there understand this, this whole conversation around the big why, right. You know, the big, why is the thing that motivates us, right. Th the big, why is a thing that gets us up in the morning? And, you know, there’s a book by a really great book by Simon Sinek talking about, you know, discovering your, I think it’s called discovering your why. And it’s the thing that motivates us, but we can bring it down to the whole idea of, Hey, there’s a reason why you want to own a home. Right. It could be as basic as I need a roof over my head and I don’t want to run out. Right. I don’t

Tracy:

Want people banging on the other side of the wall when I’m trying to sleep or something.

Tego:

I don’t want to pay, you know, the landlord’s mortgage instead of my own mortgage. Right. Could, could be as simple as that. Obviously there’s great reasons to be a renter too. And we’re not saying there’s anything wrong with it. We’re just saying that, you know, there, there are some big advantages to own home ownership. So, you know, one of them, Tracy is just accomplishment that it, you know, it kind of shows it reflects your success, right? Yeah. You were going to rapid fire. I was, that was rapid. This is rapid fire for me. She’s going to punch me in a second. She always does that comforts now, I mean, you get to choose how your home is, right. For comfort. You get to, you know, select your enhanced experiences. If you will financial investment, we won’t really talk about that cause that’s a whole list into itself. But it, it helps you prioritize, prioritize your loved one. Right. And that

Tracy:

Could be my loved ones.

Tego:

It could be. And what I’m saying is your it’s, it’s the needs

Tracy:

Of your loved ones, taking care of them and having that feeling of that. I’ve got a safe and secure place.

Tego:

Thank you. And that could be as much as your, your dog, right. Mine, for sure. I know that. I know. And then personal expression, right? You already said that making it your own, you know, painting, painting the room pink that you want pink. Right. Doing, you can’t do that with, with a landlord’s house. Right. and then privacy, and I’ll put security in with that as well. You know, it’s your place, it’s your like secure nest,

Tracy:

Right? Well, and in addition, the real word of security in addition to that is you can add whatever security enhancements make you feel comfortable when you’re a renter, you have to rely on your landlord to add things that might, they might not want on the property.

Tego:

Yeah. Good point. And then the last thing is, is just on this list is the stability stability, right. You know, you know where you’re going to be. You become part of the community over time and you you can kind of plan out your, your future a little bit more. Right. So

Tracy:

Give up if you’re thinking of buying a house. Yeah. You know, take a deep breath, go back to, what’s important about being a homeowner. And, you know, I was actually in an office next to my colleague right before we got on air today. And I heard her talking to somebody saying, well, I got an answer to, from the agent about your offer. And she was doing that voice. And she went, I have good news. And you could just like, hear the, oh my gosh, this is so exciting. And, and this is somebody that I know has put in few other offers and they persevered and you know, that’s, that’s the joy, right? You’re going to get there, take a breath. Remember what about home ownership is important to you.