When selling a house, the traditional route is to look for house buyers who are often families looking to settle down. It’s also common to encounter first time house buyers who are serious about finding their dream house.
However, as many house sellers will attest, there are a lot of challenges involved in selling homes to first time buyers, which often push them to just sell to a cash buyer. In this article, you will learn all about a cash buyer vs. first time home buyer.
The Real Deal about Selling to First Time Home Buyer
Selling to a first time home buyer can feel a lot like enticing your cat with food. You can do all you can to make the food seem appealing, make all conditions ideal for your cat to eat, but the final decision lies on the cat.
A first time home buyer can seem like an attractive target buyer if you want to sell your house, but you need to realize that these buyers are often emotional about their purchases. They will want a place to start a family in or one to grow old in. So they’re naturally investing a lot of time into thinking about their decision. This makes them:
Hesitant
When you show your house to a first time home buyer, you will often feel the hesitancy in every step. They’re taking it all in, but they’re not making any commitment. There’s no assurance of a sale.
Consider All Options
First time buyers will naturally be considering other houses, so you have a lot of competition going on. Your house better be in the best neighborhood, in tip-top shape, and the price should be within their means.
Expects You to Repair
Selling to first time home buyer won’t work if your house has a lot of damage and clutter. You are expected to pay for any repairs and renovations needed. You also need to clean up the entire house before setting up an appointment.
That’s a lot of things required of you for this target buyer, which makes us think that maybe it’s a whole lot simpler to just sell your home to a cash buyer. This is especially so if you are disabled or are in retirement.
Benefits of Selling Your Home to a Cash Buyer
There are a lot of benefits of selling your home to a cash buyer vs. first time home buyer, making it the number one option for some house owners. Here are some reasons:
You Won’t Have to Repair Anything
There’s a Sure Sale
Once a cash buying company shows up at your door, you can expect a cash offer after you’ve shown them around. Say goodbye to guessing games. You will get an offer, and it’s up to you if you’ll accept it or not.
Should You Sell Your Home to a Cash Buyer?
Obviously, cash buyer vs. first time home buyer can differ from situation and the benefits can differ as well. You need to carefully choose to whom you will sell your house depending on your needs and how soon you need to sell your home. If you need to sell it ASAP to avoid foreclosure, bankruptcy, or any urgent matters like that, then it is in your best interest to sell your home to a cash buyer.
Derrick Rosenbarger is a real estate investor and owner of ABQ Property Buyers, LLC since 2016. His background includes over 16 years as an Instructor Pilot in the United States Air Force, which honed his leadership skills. Today, he is dedicated to growing his real estate portfolio and helping others in the property market. Derrick's commitment to excellence makes him a reliable expert in real estate investment.