Rent vs Buy in Saint Cloud>Question Details

Aaron Trompe…, Real Estate Pro in 39205

Why do you think people are so afraid to buy, or confused about the buying process?

Asked by Aaron Trompeter, 39205 Wed Sep 5, 2012

I have spoken to many people recently that pay $850 in rent every month and they don't think they can buy at all. They say things like, "If I don't make my mortgage then I'll lose my house, man."

I point out that you lose your home faster if you don't pay rent, too, but the facts just don't seem to make a difference. What gives? Why are renters so hard to convince that it's smart to buy?

Help the community by answering this question:

Answers

5
BEST ANSWER
That is a great question Aaron. Out of the many people that you have spoken to, How many are first time renters? How many have recently lost thier homes? How many lost substantial income over the last 3-4 years? It's my opinion that the economy is still trying to correct it self. The answer is Education on market trends. It is true that in some areas its a great time to move Real Estate while in others it is not so good. Now that is where your Real Estate professional comes in. It is there job to be able to answer that question for you in your specific market. There are a lot of great realtors out there. Choose one that you can connect with. Good luck, I hope this helps. Ps. you can always research market trends in your area with the click of your mouse. " Minneapolis, MN Market Trends" This is an actual site.

Later
Tim
0 votes Thank Flag Link Wed Sep 5, 2012
They don't want to buy, and they're reaching for the most convenient excuse.

If they say that they want to buy, but they've got these obstacles; you can work with them. But if they don't want to buy, it doesn't matter what they say.

All the best,
0 votes Thank Flag Link Thu Sep 6, 2012
Too often they hear, "Buying/Selling call me!"
They need to hear, clearly, free of real estate jargon, the benefits, outcomes, results or solutions home ownership provides. When we lay down our money for ANYTHING, we are buying for one or more of these four.
-
Some citizens are incapable of making hard decisions. Their circular logic will prove a waste of everyone's time.
-
*There are several SOLUTIONS for providing a college education for the child. One is home ownership.

*There are several options that RESULT in income opportunities. One is owning real estate.

*There are BENEFITS to home ownership besides the exercise of mowing the grass. You end up owning for less money than renting. Now you may own the grass you are mowing anyway!"

If they are unaware of the benefits, results, solutions or outcomes available, they will not be separated from their money or time.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Thu Sep 6, 2012
Homeostasis

Cameron Piper
Coldwell Banker Burnet
licensed MN Broker
612-839-4202
Web Reference: http://www.CamPiper.com
0 votes Thank Flag Link Thu Sep 6, 2012
Home buyer education, it is our job to help people understand what seems to be such elementary things to us. I do home buying seminars and its amazing how much people don't understand. I wish more agent would do education and wish more buyers would attend.
0 votes Thank Flag Link Wed Sep 5, 2012
It is odd that you should say that because I was a high school teacher before I switched careers. So what I did was hold some classes open to the public at the library. I sent mailers to renters, advertised, and ultimately wasted money because not a single person showed up. Time to re-group and re-think that scenario. Perhaps a venue change?
Flag Thu Sep 6, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer