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Working with Millennial Home Buyers, Part 1

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From the Experts at Better Homes and Gardens Real Estate

“She never really made us feel like she was in a hurry,” says Jess. “She was never going to let us buy a house we weren’t happy with.”

Jess works for an international non-profit, traveling often to Bangladesh, India and Nepal, while Geoff is a nurse’s assistant. Despite their combined incomes, sellers were asking more than they could afford.

“We knew going into our house purchase that we wouldn’t be able to buy something state-of-the-art,” says Jess. “We knew upgrades were a must in the near future. We were looking forward to doing it ourselves.”

They put in seven — yes, seven — offers on properties over the course of eight months before they bought a single-family home in Durham, NC, for $180,000. Their agent was patient.

“There were times we wanted to quit,” says Jess. “Our REALTOR® always says, ‘It doesn’t hurt to spend ten minutes to go look.’”

Sensitive to their needs and always sending them relevant industry information, their REALTOR ® also helped them focus on affordability.

“Our REALTOR® was really good about staying on top of mortgage rates and what home prices were going for.”

Delayed in Manhattan
Even Craig, a well-paid 26-year-old advertising executive with enough cash for a down payment on a Manhattan condominium, had to wait a year before he was approved for a loan.

Craig is a British citizen, so he lacked a credit history in the U.S. Despite using a mortgage broker supplied by his employer, banks told him to come back in 12 months.

“The hardest thing was securing the mortgage,” he says. “It was this Catch-22 where I couldn’t get a loan, because I never had a loan.”

To read how Craig’s REALTOR® made the sale, be sure to read our latest Clean Slate post, “Working with Millennial Homebuyers, Part 1.”

For more on Better Homes and Gardens Real Estate and to network and engage with top real estate professionals, take a moment to like All Things Real Estate on Facebook, follow @AllThingsBHGRE on Twitter, and follow our company page on LinkedIn!

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