The Beginning and End of the Journey

It isn't often you have two sets of buyers who are on the opposite ends of the house hunting path at the same time. I have two clients who recently purchased new townhomes. Both are buying new construction but they will each face a different set of circumstances. The contrasts have been instructive.

One is a veteran buyer who is downsizing from a large home in Northern California to a 55+ condominium in the beach cities in order to be closer to her family. The other buyers are a young couple who are buying their first home. It has been fascinating working with them at the same time as they purchase similar properties with different purposes and mindsets. What has struck me the most is that while they are on opposite ends of the buying process.. first purchase and last purchase.... they have much in common.

While both would have loved to live in Manhattan Beach neither buyer could do so. The young couple wnted a newer condo under $650,000 and the veteran wanted a condominium on one level with no entry steps and elevators. Neither of these exist in Manhattan Beach

The young couple are excited and nervous and a little scared. They have started successful companies and have been saving for about a year for the down payment. They know this is a wise financial move but are a little scared about taking on a payment that is twice as much as their rent has been. They are smart and financially savvy but being young and entrepreneurs expect people to work on their time schedule which is a bit different from the schedule of the builder's agents.

The veteran buyer is excited and nervous and a little scared. She is leaving a place where she lived for many years and moving back to a place she left 30 years ago where she knows few people outside of family. She is buying a home that is smaller then the one she has sold. The veteran realizes that the home buying process involves compromise on all parts and is more flexible even though it requires flying into town periodically.

The young couple are looking at their purchase as a first home. They couldn't afford to buy in the beach cities and have had to compromise on location in exchange for price and new construction. They are already thinking about what their next purchase might be a few years down line.

The veteran believes this will be her last home. She picked our area as it is mid-way between most of her family members. Currently there are not many choices in the South Bay or most of LA and Orange Counties if you are looking for 55+ housing. I believe this will change as more and more Boomers retire. Some will move to other areas but many will want to stay near family and friends.

The young couple are wondering if they can afford any new furniture as they have to buy a washer and dryer and a new refrigerator. Their new home will be larger then their current place and they wonder what they will do with all the space.

The veteran buyer is moving into a new home that is about half the size of the one she has sold. She isn't sure how much of her furniture will fit and what she will need to sell or give away. She is giving up a three car garage with lots of storage for gated parking with a storage locker.

As they face the challenges of moving to a new home in a new area there will be questions about whether they did the right thing....facing the unknown is always difficult at first. Over the long run I think they will both be very happy with the choices they made....

Beach City Real Estate Info

TOUR: 55+ South Bay Communities

TOUR: New Horizons 55+

All content copyright © 2007 Kaye Thomas