Renters Have the Advantage Over Home Owners
Good Morning Friends! It's Friday!
I have just been thinking a little bit about renters. I am geeking out on real estate facts here. So, I just wanted to share with you a little bit of what I have been thinking about and why renters have the advantage in buying a house over current home owners.
There are a couple reasons for this:
1. Renters are free to act. They see a home come on the market, they are pre qualified. They can get that house, the can put an offer in. Usually in a multiple offer situation, a seller is going to choose a buyer that doesn't have complications. A renter that dosent' have to sell a home first is pretty appealing, especially if that home owner is wanting to buy a house as well. They don't want to be contigent upon a contigency. So renters look much more apeealing in that situation.
2. Renters are free to look. They ahve simonth or a year lease and they have time on their side to look. So they can wait out the market. During the winter months we tend to have lower inventory but in the Treasure Valley, we don not have decreasse in activity. winters are very busy around here for home buying. Lots of people are moving here. We have a great market, really, year round. Our challenge right now is low inventory. Renters have those searches set up whre they automatically get listings everydat and they can go look at a home on a moments notice. Where as a seller, if they know they have to sell a home first and don't have that hoe on the market yet, they are ata disadvantage.
3. Easy to get out of a lease. Because we have such low rental inventory righ now in addition to love inventory of houses to buy, renters are finding it easy to get out of their lease for a small amount of money With that in mind, they don't feel as obligated to carry out their six month or year lease, if they are able to get out of it pretty easily.
Those are a few ideas. If you are considering selling your house and you have to sell firest brfore buying, consider doing it now. You put yourself into a rental situation and have the advantage over others.
Alright friends! Now go LIVE, LOVE and LEARN!
*Want to know more about your specific situation Call me today 208-918-0749 Kristen Johnson