By Nathan Walldorf, ABR, GREEN, GRI, SFR, e-Pro
President, Greater Chattanooga Association of Realtors
Most people can relate to the complications and complexities involved with moving. Whether you’re relocating to a recently purchased apartment or a starter home, resettling takes time, effort and planning.
Moving with kids requires even more planning and research. Finding a home with the appropriate amount of space, in your preferred school district, and convenient to a job or school location are often priorities for buyers with families.
According to the National Association of Realtors Profile on Home Buyers and Sellers, eight in 10 home buyers worked with an agent to purchase a home in 2015. Agent use is even higher among buyers ages 36 to 50 (87 percent) and 35 and younger (89 percent) - the demographics most likely to have school-aged children.
Fifty-three percent of families with children under the age of 18 reported that the hardest task in the home search process was finding the right property in the right location. Families find themselves needing a real estate professional with a wealth of local market knowledge, hands on attention and a broad range of resources to help find the right home.
Families with children under the age of 18 often times have a greater urgency to sell their home too. Twenty-four percent of sellers had to sell their home urgently while 46 percent had to sell their home in a somewhat urgent or reasonable timeframe. This is mainly due to a fast moving market and the fact that most families prefer to get settled in before the new school season starts.
In many cases, families are looking to move because their home is too small. Twenty-nine percent of families with children under the age of 18 cited upsizing as the main reason for selling. Neighborhood choice is another factor: 50 percent of families cited the quality of the school district as a reason for buying their home, and 43 percent decided upon their home because of its convenience to schools.
The type of home purchased by families tends to differ from those without kids at home as well. The typical home of families with children under the age of 18 is a 2,100-square-foot, 4 bedroom and 2 full bathroom detached single-family house.
In citing the characteristics of families with children who are buying or selling a home, it is no surprise that they find themselves in need of a real estate professional to help with the buying and selling process.
If you are interested in selling or buying a home, visit gcar.net to find a Realtor – GCAR even has a list of Realtors who speak a foreign language. Contact a Realtor today.