M – Mulligan: House Hunting the Second Time Around

In Buyers by Doug Phelps

Remember yelling ‘do over!’ as a child? That’s a mulligan in golf.

After some unfortunate circumstance or just a careless mistake, a golfer may take a mulligan as a second chance to perform the action and redeem themselves.  It is usually allowed on the first tee only on the tee shot, but I’ve seen it used elsewhere on the course. Some may argue that a mulligan is against formal golf rules but others believe it makes the game better, especially when just playing for recreation. 

In the housing market, while being a first-time buyer or seller can bring its own unknown excitement, being a second-time market participant can be better as you now know what to expect and you are not so blind going into it.  

House hunting the second time around with a realtor can be a totally different experience than the first time.  Possibly, you are also more mature and have a different life path. For example, many first time buyers are single or newly married with no kids and by the time it is time to buy another home there may be children involved.  Second time home buyers may also have a bigger budget due to promotions or career changes which can change things as well. If you are a second time home buyer, here are some things to anticipate:

Budget Changes

As life progresses, it’s very possible that a second time home buyer has a larger salary to spend than the first time around.  A realtor can help you break down what may be a comfortable price for you and your family, while still getting the most house for your money.  The sale of the first primary home may contribute to this spending power too, which can help out even more. Golf course living, here you come! 

Future Plans

Maybe as you buy a primary residence for the second time around you are married now and are trying to find a home for a potential future family.  Maybe you have a child and are planning for more. Maybe you are living that single life and don’t have any plans for marriage or children but your current home doesn’t allow dogs and you want a dog and a fenced yard now.  Maybe you are anticipating aging relatives moving in within the next few years. Whatever your future plans may or may not include, a realtor can help talk you through this and find the perfect home for your ever-changing life.  

Type of home

Not all second-time home buyers are upgrading.  Some second-time home buyers are content with their primary residence but are now on the hunt for a property to rent out and make extra money.  Also, a second time home buyer may not be upgrading at all but instead downsizing. A realtor can help narrow down what kind of home you are looking for and tailor a strategy depending on what you really need.   

When you’re ready to begin your home search, whether it be your 1st, 2nd, 3rd, or 10th time, contact me at (720) 323-4176, I’d love the chance to help you caddy your home buying journey! Alternatively, you can search for homes right here on my website free of charge and without registering. Click here to start an online home search.

This post is part of an ongoing series where we talk about my two favorite things: golf and real estate!  Stay tuned for more golf-themed posts as we go through the ABC’s of real estate and provide helpful tips for home buyers and sellers alike. 

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