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Would you Rather –  Home Buyer Edition

July 22, 2023

Would You Rather: Homebuyer Edition – Low-Interest Rate vs. Higher Negotiation Power

Transcript

Ryan Hillard: We’re going to call this “Would You Rather: The Homebuyer Edition.” In this version of “Would You Rather,” we have two options. 

  1. The first option is: would you rather have a lower interest rate that is going to look somewhere, let’s just say maybe down in the low 3’s or closer to 3%, but you have to give up your inspection rights, you don’t get to negotiate at all, and you’re going to have to look at multiple homes, submit multiple offers, probably get rejected a lot before you do finally go under contract if you’re willing to endure the market that long. And, just for fun, as a kicker, you’re going to have to pay an additional $50,000, $100,000, $150,000, maybe even more, over the asking price of a home. And, fully guarantee that amount if it doesn’t appraise. 
  2. If we look at option B: would you rather have a higher interest rate, maybe something to the mid to upper 6’s, but you’re more likely to go under contract on your first, second, or third offer if it’s well-written, and you’re able to negotiate on things like possible the purchase price or maybe seller concessions that you can use to pay closing costs or help buy down the interest rate. 

Ryan Hillard: Which would you rather do? Let me know in the comments! 

Ryan Hillard
Founder & Managing Broker
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From Social:
Would you live with your parents again? In 2023 14% of all home buyers were looking at multi-generational living and it’s something we are seeing more of our clients doing. Here are the Top 5 Reasons Clients Consider Multigenerational Living 1. More Buying Power 💴 Combining incomes across generations increases purchasing power and allows families to afford larger in homes in their desired neighborhoods. 2. Eldercare / Healthcare Caring for aging parents and other family members ensures they get the personalized attention and can also significantly reduce healthcare costs. 3. Childcare Support Having grandparents or extended family members around can provide additional childcare support while also fostering stronger family bonds and saving on daycare expenses. 4. Cultural Values Living together allows families to pass down and maintain cultural traditions and values, strengthening the sense of heritage and identity. 5. Job Loss / Change When there is a job loss or transition, a multigenerational household can provide a safety net, offering financial and/or emotional support. It’s important to note that these are not the only reasons but are at the top of the feedback we receive from our clients who have combined households. If it’s something you’re considering and have questions on how to navigate this process, send me a DM or comment below. ⬇️ #denverrealty #forwardmortgagegroup #denverrealtor #familygoals #buyingpower #realestatemarket #family #homebuyersguide #denverrealestatemarket #homesecurity #familysupport #realestatedenver #navigatingrealestate #investinhome #propertysearch #familyestate #realestateinvesting #homeplanning #familysupportsystem #these #realestateadvice #denverproperties #homeinvestment #denverhomesearch #housingmarket #multifamilyhomes #homebuyingstrategies #generationalliving #culture
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