Though the market is sluggish, there are two groups of home buyers that continue to move the listings. Older couples whose family is grown are looking to downsize, and young families with growing children are looking to upsize.
Belleair Shore Florida – Cash House Buyers: The real estate market, though more sluggish than sellers would like, still has two active groups buying homes. Those groups are young families upsizing their home to accommodate a larger family or children who have outgrown their spaces and baby boomers retiring and downsizing because their families have moved on.
The smaller houses that young newlyweds and families with babies are living in are perhaps perfectly suited for retirees and baby boomers that have empty nests. This creates a good trade off in the market as both of these groups and types of homes can simply be bought and sold across the lines of those two groups.
This means that each group is basically supporting the other as far as homes available to suit each of their needs. When a young family has no children, or even a child or two, they will eventually need more space for them. As the kids become older, they will no longer be happy playing together in a small playroom together. They require room to run, practice their sports, create their extensive art projects, and get away to have some quiet time to study or just relax. The houses that baby boomers are living in, after raising their larger families, are perfectly suited for these young and growing families to move into.
The smaller houses that young newlyweds and families with babies are living in are perhaps perfectly suited for retirees and baby boomers that have empty nests. This creates a good trade off in the market as both of these groups and types of homes can simply be bought and sold across the lines of those two groups. Those without a need for a lot of square footage may enjoy paying lower property taxes, lower utility bills, and have less maintenance to keep up with.
- When a young family has no children, or even a child or two, they will eventually need more space for them.
- The smaller houses that young newlyweds and families with babies are living in are perhaps perfectly suited for retirees and baby boomers that have empty nests.
- In some cases, when downsizing is the goal, a baby boomer couple may have a tough time selling the larger home.
In some cases, when downsizing is the goal, a baby boomer couple may have a tough time selling the larger home. They may have lots of equity in the house or it could be completely paid off if they spent several decades living there. When that’s the situation, the house can be quickly sold to a real estate investor for cash and they can then find a smaller home and pay cash for it, relieving them of the burden of house payments and bills for upkeep. They can also carry a loan for a younger family to buy their home. The house payments will provide the retired couple with a monthly cash flow if that’s an attractive idea, and help a working couple that would like to upsize and spread out with their growing family. Bank loans are challenging to obtain these days and a little creative figuring can get everyone what they need.
