It’s an inevitable truth that when your kids grow up, as mine is doing, their sense of independence will send them out on their own. The house they’ve grown up in, had friends over to and increasingly made their own private teen junk yard, will be just yours and not theirs. And when they start their own families, that home may not be close to home.
This reality is hitting many parents right now. Our current market is seeing a strong surge in very experienced/mature Buyers who want to live closer to their adult children and grandchildren. As more millennial buyers move into our East Valley neighborhoods, their parents are searching to move close by.
Here’s a quick overview of the Buyers in this market:
- They want to enjoy time with their adult kids and grandkids but also be able to live in a home of their own that’s an easy drive to and from their kids.
- Roughly 30-45% start out as Second home buyers to get a “feel” before they fully transition. They’ll look for homes that can be easily maintained while they’re back home.
- They are not looking for a house. They’re looking for a lifestyle change.
- They have potentially more resources (in time, elbow grease, finances etc.) to invest in updates or repairs.
- Price may dictate if any of those resources can balance the cost of the home.
- These Buyers are extremely adept at filtering homes that won’t meet their needs pretty quickly. First impressions and marketing may be the only chance to grab their attention.
- The East Valley is on a huge growth spurt that won’t see a tempering for awhile. The combination of healthy business expansions (meeting almost any need or interest) along with limited homes for sale, provides a very wonderful opportunity for Sellers in our area to find the buyers that may elude other areas of Arizona.
If you’re looking to Sell your home soon, let’s sit and chat. As they say, “Jump while the iron is hot!”