Alright, maybe I’m going out on a limb here, but I do think it’s true that ALL home buyers are really first time home buyers.
Yep, even if you’ve owned 2, 5 or even 10 homes in your lifetime, if you are buying a home in Charlotte NC today you are in fact a first time home buyer.
How could that possibly be? Aren’t you only a first time home buyer when you buy your First home????? Well, not really.
Anytime you buy a home, you’re a first time home buyer in THOSE real estate market conditions and in that real estate environment.
I’m not just referring to supply of homes for sale, how much inventory there is or whether Charlotte NC real estate market conditions “favor” buyers or sellers at any given point in time.
Beyond real estate inventory, the real estate environment and real estate landscape are constantly shifting, changing and evolving.
You may have heard in recent years the financing rules have tightened oh just slightly and the home loan process today is nothing like what it was the last time you may have bought a home, even if that was just a few short years ago.
Here in NC, we’re about to go through a major purchase contract update effective January 1, 2011. The new contract will be 9 pages (not including addendums) of terms, details and specifics to each and every single home purchase agreement, and includes a lot of changes to our current contract. In fact there’s usually changes to our contracts every year, with major revisions every few years. Even our forms aren’t static and stable!
Regardless of whether you’ve bought a home 2, 5 or even 30 years ago, if and when you decide to purchase your next home you will indeed be a first time buyer in THAT real estate environment.
And I can say with certainty it WILL be different from the environment you went through for your last home purchase. Not good or bad, just different, but with the common goal of successfully navigating the current real estate landscape to your first or next home!
Copyright©2010 by Diane McDermott, All Rights Reserved, “ALL Home Buyers Are First Time Buyers”