Why People Don't Buy Homes and Rent Instead

Debbie Reynolds's picture
Why people don't buy homes

Buying isn't for everybody even though as a real estate agent I prefer working with buyers 10 to 1 over working with renters. It's not that I don't like renters, it's just that I get much more satisfaction in selling houses. There are many reasons people don't want to buy or can't buy.

There is the Credit Challenged Buyer

Many buyers would like to buy but can't because they are credit challenged. I have lenders that can work with these buyers and sometimes they can find a solution. Othertimes the only remedy is time and doing some credit repair which doesn't happen overnight either.

Those That Want to Be Buyers

Having a want-to-be buyer that can't get their money together still means they can't buy. There is lots of desire but no credit established or no job stability or security. If a close family member can't help out financially or their isn't a downpayment assistance program available then these folks can't buy right now.

The Would-Be or Could-Be Buyer

This is an altogether different type of buyer. The would-be or could-be buyer doesn't want to buy because of the process they must go through. It scares them or they don't want the intrusion on their privacy or the hassle. If these buyers don't have the cash to buy and must depend on financing they may decide to not proceed with buying.

It's Not the Right TIme Buyer

It has to be the right time. A buyer might be thinking they will be changing jobs, relocating or getting a promotion. They may be thinking about a big life change like divorce or marriage or having a family. A family member may be needing them right now to care for them and need some of their financial resources. So the timing may not be right. Later it all may be worked out but right now the answer is no.

Others Want to Be Fancy Free

Some just plain don't want to be homeowners. They like to live loose and don't want financial responsibility or commitment. They like renting with no responsibility to have upkeep on a house or take care of the maintenance. In their minds it is hassle free living.

Why People Don't Buy Homes and Rent Instead

It takes all kinds of people and thankfully for investors that many people do have to rent or want to rent. Homeownership is not for everyone and or it may not be right for them at the moment. Circumstances can change in an instance and a renter can become a real buyer. Owning real estate is still the American Dream.

Finding the American Dream

When you want to be a homeowner in Clarksville TN, I want to help. Now is a good time to begin the search for your Clarksville TN Home. Contact Clarksville TN Real Estate Agent, Debbie Reynolds at 931-920-6730.

Comments

Add new comment