For renters who aspire to be home owners, transitioning from an apartment to a house requires a shift in their thinking that they may not be prepared to make. The financial changes that come with owning, the need to consider planting longer-term roots in a neighborhood, and new neighborhood rules are things renters may not be thinking about enough.
As their real estate agent, it’s important for you to be there for your clients when they’re embarking on a life-changing event such as buying a home.
Moving can already be one of the most stressful times in a person’s life, but it may be doubly so for a new home owner. In order to be their most reliable resource, using your knowledge and experience to provide them with guidance, share these helpful nuggets of information with your clients so their transition from renter to owner can be as smooth as possible.
They need to understand how their financial investment is changing.Renters may see an increase in their monthly rent every lease term, but they don’t see exactly where it goes — toward property taxes and insurance, even “luxuries” such as trash pickup. As home owners, they don’t have a landlord who handles all those details, so they need to be ready to juggle the financial responsibilities of home ownership. Have an open conversation with your clients about these changes and the importance of budgeting to make sure they make smart financial decisions during this process.
They need to be happy with their location for the long-term.As a renter, you can bounce around from home to home every year if you want. But when you own a home, you have to stay put — unless you plan on renting it out, which most home owners don’t. Impress upon your client that location is going to play a much more significant role in their future, so they should think about evaluating school districts, access to amenities, and commute time now as they search for their next home.
They may need to abide by new rules.Renters don’t think about possible homeowner association rules they may be governed by, such as trash pickup rules or any curfews or rules pertaining to animals. Make sure to get all the information on neighborhood rules and associations to help your client understand what their new obligations will be.
They’ll need to get into the mindset of an owner.Life as your client knows it is about to change. Once your client purchases a new home, they will no longer have a landlord to tend to their many needs, including lawn care and plumbing. The best way you can help them as their real estate agent is to provide them with contact information for local industry experts. They will eventually need certified specialists ranging from HVAC companies to carpenters to electricians. Let them know they don’t have to do everything themselves.
They should know their neighbors can affect their value.Renters don’t care who their neighbors are as long as they’re quiet (enough). But your client is now going to want to know whether their new neighbors are renters or home owners. This knowledge can help your clients gauge current and future home value in the neighborhood. If the neighborhood consists mostly of rental properties, it is likely a home owner will lose money on their house in the future. Renters do not always feel responsible for maintaining their properties the way home owners do. Property value comes down to curb appeal. Less-appealing neighborhoods often have more-appealing prices, which is not always good for buyers and home owners.
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5 Bed 3 Bath Home in Santa Rosa Springs - Move in ready home in
"How fast did your agent respond to your questions: 5 out of 5
How well did your agent use technology: 5 out of 5
How helpful was the support staff: 5 out of 5
How good was the auxiliary services we recommended: 5 out of 5
How did the closing go: 5 out of 5
How close did we meet your expectations: 5 out of 5
How likely are you to recommend us: 5 out of 5
Services used: Buy
How did you find us: Referred by a Friend
Your most memorable moment
There were quite a few memorable moments, I think I most appreciate her helping me to write a letter to the seller of the home I purchased. I knew she truly cared and wanted my children and I to find the right home. She was willing to go the extra mile to help us find a home, I will never forget that.
The moment you'd rather forget?
At closing, I was very sick and my nose was running all over the place :/ I had tissue in one hand, and a pen in the other hand and we made it through.
Sandra Wearne was phenomenal throughout this whole process. She was the third realtor that I had used, and I was beyond frustrated with the buying process. Within minutes of our first conversation she had already sent me a listing, and we were scheduled to go see homes on the next day. She works hard, fast, and is extremely knowledgeable about real estate. She was always available to answer questions, calculate numbers, and give me required information. I would not have made it through this process without her help and hard work.