Do you Know What Type of Home Buyer You are?

Posted by on Friday, August 23rd, 2019 at 4:40pm.

Are You a Difficult Home Buyer? Edmonton has plenty of different types of home buyers. When you seek out a real estate agent, it's not a bad idea to know what type of home buyer you are before you call an agent and get to shopping. Here are a few of the most common types of home buyers found in Edmonton.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Types of Home Buyers

There are a number of different home buying styles depending upon the personality of the buyer. Which one of these home buyers are you?

The Skeptic

A skeptic thinks everything is too good to be true and would want to know about every single detail of the home. If this is the type of buyer you are, you may require all the details and answers to every question you have before you are willing to close the deal. Home buying may not be a fast process for you.

The Finicky Buyer

This type of buy isn't afraid to spend money, but also wants to get everything they want out of a home. Money isn't usually the issue at all with this type of buyer and they will shop on the higher end of the market.

The Simple Buyer

A simple buyer is one that knows what they need and isn't afraid to handle a repair, if it seems reasonable. This type of buyer won't care as much about fancy upgrades or furniture, either. They just want what they need and will usually take less time looking than some of the other buyers.

The False Hope Buyer

If you go into the process with high hopes and the type of home you think you should own is way out of your budget, you are a buyer with false hopes. This type of buyer can be a bit difficult, as they have to re-establish their expectations before they will be able to find the right home.

The Excellent Buyer

An excellent buyer is one that knows what they want, what to expect, has been pre-approved and is ready for the home buying process. All real estate agents in Edmonton want to work with this type of buyer, because they do a great job of making it easy for agents when shopping for a home.

Would Others Consider You A "Difficult" Home Buyer?

When it's time to start looking for a new home, it's important to know if you're a difficult home buyer. There are many ways to determine if you fit the mold of this type of buyer. Here are some of the common traits of a difficult home buyer.

Multiple Real Estate Agents

If you've gone through agents like they are disposable, you're probably a difficult home buyer. It's one thing to hire a second agent after dealing with an agent that doesn't listen or simply cannot find the home you're after. However, it's another thing when you're on your third, fourth of fifth real estate agent.

Unrealistic Expectations

Usually buyers that go through agents have unrealistic expectations. Either they want a home that doesn't fit their budget or they are on the hunt for the "perfect home" with no wiggle room. If you're expectations are unrealistic, you may be a difficult home buyer.

Long List of Non-Negotiables

If your list of non-negotiables reads like a book, you may be a difficult home buyer. There's nothing wrong with having a few non-negotiables, such as three bedrooms or larger, a garage, a back yard, etc. However, when the list gets so long that it takes an hour to go over, it's unrealistic.

The difficult home buyer will not only have a long list of non-negotiables, but will also have an expectation of getting that entire list for the price they want to pay, not what the market will support.

Home buyers should take the time to write down their expectations in the order of priority. If you must live in a neighbourhood in a specific school district, list that as a top priority. However, if you think you must have a swimming pool, which may be an expectation to consider a bit of wiggle room with. Some expectations need to be non-negotiables, but others need to be more of a want than a need.

Expect Insane Value

A difficult home buyer is most defined by what they expect for what they can afford. When a home buyer expects a luxury mansion and they have a budget of $200K, they are looking for impossible value.

It's important to look at homes on the market actually within your budget and get a sense of what you can really afford. If you cannot afford more than $200K, start searching for homes within this budget and see what they offer. It's unlikely that you will get a five bedroom, four bathroom home with a gourmet kitchen on this type of budget.

Understand Expectations to Be an Excellent Buyer

The key to becoming a reasonable home buyer and not acting as a difficult home buyer is understanding what to expect. If you have incredibly high expectations, you may need to come back down to earth before you start shopping for a home.

These are the different types of buyers you could possibly be. Knowing which one you are will help as you go into the buying process.