I recall reading statistics somewhere that there is a “buying cycle” that suggests how long it takes the “average” person to purchase a property once they have the inkling that they might want to move. My perspective is that I do not believe there is such a thing as an average person, I tend to think of people in terms of clusters of personality traits.
I have studied several personality systems – the one that is most easy to identify people with is the Enneagram. The system is not “supposed” to be used in such a way, but once you understand it, it is difficult not to group people into various slots. But, as usual, I digress. My main point is that from my experience and knowledge of various personality types or styles, I do not believe there could possibly be an average person who buys in “x” amount of days, from start to finish.
My personality style is such that I get an idea and pursue it, wholeheartedly, even doggedly, until resolution. What that meant for my last home search (the one that brought me to Santa Cruz, almost ten years ago), was a period of more than a year when I hung out in another beach town (Half Moon Bay) because at the time I was working in San Mateo, and thought I might like to relocate in that area.
I never seriously considered Santa Cruz, until one day, when out-of-the-blue, I called a real estate office and tried to find a Realtor who might show me property. Subsequently being in the business, I find it fascinating that the first company I called showed absolutely no interest in my pursuit (because, I am assuming, they labeled me as a “looky-loo,” and did not want to put energy into spending time with someone who might not buy). When I called the second office, I told the person on the other end of the phone that I wanted an “aggresive agent.” She smartly identified herself as such, and we were off on the great adventure that resulted in my home purchase.
We looked at several homes, but I knew the one I would end up buying, instantly, not through logic, but through a body-knowing. It is interesting to witness the process that happens to people when they find the right property. It is similar to falling in love – the face becomes flushed, there is actual physical excitement. It is literally thrilling to experience and to witness!
The house I became enamored of had “issues.” As I was running towards the house, my agent was pulling me away, but I could not be deterred in the end. I just felt a bond with the land and the house. I loved the brick walkway and the Craftsman-like built-ins, in particular, but the entire property captivated me.
My particular buying cycle, from the time I thought I might like to live in Half Moon Bay until I purchased my home in Santa Cruz was almost three years!
Once I found my home, I made an offer, contingent upon the home I was residing in selling. I didn’t even have it on the market before I found my new home. It sold in three months (which at the time seemed like an eternity) and my new house closed almost simultaneously. It really was “meant to be.”
So the process was driven partly by circumstances in my life (being ready for a move), and finding just the right house. Once those two factors converged, it felt like momentum just carried the entire process to fruition. It was a very exciting experience!
I am working with several people at the moment who are in various stages of their own, highly personal processes. Because the processes are so personal, I am not privvy to where they are in their own cycles, hence I have no idea when they are going to be ready to buy. The only thing I can do to assist them is to show them properties when they are ready, and look for the signs of “falling in love,” and then do everything in my power to help them move towards their end goal.
I was lucky that the seller of the home I purchased was willing to accept an offer with a contingency for me to sell my home before completing the purchase of theirs. In a “hot” seller’s market, that strategy would not be possible. In my case, an alternative would have been to put my home on the market and pray that the home I wanted would be avaiblable when I was ready to buy (in a hot market, it probably would not have been available by that point). I also could have taken out a home equity loan, and used the money to purchase the new home, but the risk is that the 1st home would not sell as quickly as desired (and as I have learned, the ONLY reason homes don’t sell, is price. Appropriate price, can remedy any home ailment, but that’s a blog for another day . . . )
When I meet people who are looking for a home, I wish they had descriptive stamps on their heads indicating where they are in the buying cycle. I know from experience the process can’t be rushed. If I get an inkling where people are, then I can appropriately assist with relevant resources. debryman.com