Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We are starting to look at a home to buy. It has been years since we owned, and our needs / goals have changed. We are looking to downsize from the rental we are in because the kids are grown / growing and starting to move out. The agent we have gone with (so far - no paperwork signed or anything yet) is someone my husband distantly knows through work. (She is the wife of one of the builders that my husband's company deals with).
So... she takes us around one day to see all the ones available that "matched our needs" (there were 6 homes - it's not that big of an area). One home was beautiful, but BIGGER than what we have now. When I made the comment that upsizing wasn't in our interest, she mentioned that the resale value would be greater. When I talked about not wanting stairs (while looking at a 2 story house), she brought up the resale value angle again. We were pretty specific about our needs - this will be our retirement / empty nest home. I don't intend to buy a home based on future resale value. I am buying a home that I can afford when we retire, that my future grandchildren can come stay at, that we can keep up when we are elderly, and that has no stairs to contend with when I'm old!
I came away with the feeling that resale value is more important that our wants / needs. It seemed that the agent was more interested in that fact than the fact that she was taking us to houses that didn't suit our needs at all. I could have understood if she was pushing the more expensive houses at us (the higher the price, the more her commision), but there didn't seem to be any connection between prices.
So, to those that sell homes or have purchased... is this a "new" (new = I never heard this word brought up as a selling point with any of my other home purchases) consideration that is pushed on buyers or does this one agent think too much of the word "resale" ?
At different points in your life it may or may not be relevant. In your case, less so than your criteria. She's going overboard with it. Maybe time to interview other agents.
So, to those that sell homes or have purchased... is this a "new" consideration...
Not new really... but it *is* far more important generally than it has been in decades past.
Quote:
We are starting to look at a home to buy (again).
It has been years since we owned, and our needs / goals have changed.
We are looking to downsize from the rental we are in because the kids are grown...
I came away with the feeling that resale value is more important that our wants / needs.
It seemed that the agent was more interested in...
Perhaps you haven't made your circumstances and desires clear to the agent?
Or they see other factors that make them less confident than you are...
that you're really ready (job security? income? etc?) to buy the "forever" home.
And if you really aren't... then you really do need to consider the resale issues deeply.
If ou really are... then I agree with SBiU: "Maybe it's time to interview other agents."
As long as you aren't overpaying I don't see what the big deal is. All things being equal buy a smaller house for cheaper than a big house and of course it will sell for cheaper than a big house down the line.
No way in hell I would let an agent try to push me in to something I didn't want solely for the sake of "resale" value. You either need to make your point again or find another agent.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,576 posts, read 81,167,557 times
Reputation: 57813
It's like buying a car, the sales people are always throwing around the resale value. If the house (or car) is what you want and you intend to keep it for many years then it makes little difference, as long as it's not something that will be ard to sell, like under a high voltage power line, or next to the freeway. You pay more for the house if it's going to have a higher resale value. The realtor wants a bigger commission.
1) I hope your agent's husband is not a client of your husband. If you offend her it could hurt his business relationship. Get out now and pick a neutral agent whom you have no business or social ties with.
2) The real question is potential for appreciation. I don't think there is any (good) data that concludes that larger 2 story homes will appreciate more than smaller, single story homes. Just ask the proud owners of the millions of McMansions, complete with nice staircases, who are underwater.
We have very limited inventory right now so my clients are looking at properties that don't meet their criteria, but come close. Maybe the 6 you saw is all that there is in your price range and she's trying to get you to loosen up your criteria so you can find a house.
I do mention resale value as 1 of the many things to consider. If they say they will only stay a couple years, then it becomes more important.
We just bought "For Sale By Owner" so don't overlook that possibility. We were also looking for a retirement home that had to meet certain criteria but it appeared that whatever language we were speaking, the realtor didn't understand. I am not a fan of realtors or car salesmen and while I understand that making a sale is what their business is about, we were talking a lot of money and what WE wanted. A lot of "steering" goes on to redirect you to what they have available.
The MLS is online in many states and where it isn't, many of the RE firms have online listings. You don't need an agent to show you houses. Pick your own!!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
