Each family is unique in its composition and style, but there are some generalities I have observed about when people move.
1. Small, affordable home shoppers. Lately, this has meant the millennials are competing with the downsizers (see below) for the most affordable end of the market, leading to bidding wars and multiple-multiple-multiple offers on townhomes and smaller ramblers.
Generally, these buyers are not concerned with school boundaries, either because their kids are gone, or kids are not even on the radar screen.
There is a huge demand for these houses and they are selling in days.
2. Move up buyers. These are often families with 1.5 kids who realize that the townhome or two bedroom rambler they bought four years ago no longer fits their family size or lifestyle. And now schools are important.
3. Move up again! Now they no longer need a nursery right next to the master bedroom (if there even is a master bedroom). Kids want their own spaces, a master bath would be nice to have. A nice kitchen, please!
These homes are usually in the upper $300,000s to the sky’s the limit. Jobs are stable and well paying, family is not growing anymore; they often want to stay in the same schools.
4. Kids are grown, parents are thinking of their next stage of life. Maybe they want to move downtown for all the action. Many, many times they want to stay in their same community but want a smaller home or a different configuration. They plan to be here for 20 years, until their kids put them in the old folks home (HA!!). So one level can be important.
(In Eagan particularly, people want to stay put. There is a HUGE demand for detached, one level townhomes in Eagan, but they really don’t exist. Who can help make this happen? Call me please.)
5. People who have aged in place and are no longer interested or able to stay in their long-time family home. They are ready for assisted living or some variation thereof, and will not be buying another home. This is a more complicated situation, as they divest themselves of family heirlooms and grown children help with the process. I have colleagues at Keller Williams who specialize in this service, and would be happy to refer you to them when you or your parents are ready.
6. Second chance buyers. Newly single for any reason, these buyers are looking for a fresh start, often in a new environment. This is part of a new adventure and a new stage where the buyer is looking for something that makes them happy rather than trying to please a family or spouse. They may be in competition with #1 or #2 above.
7. Single mover uppers — these buyers have owned one or two previous homes and are ready for something new. Just because they can!
8. Job changers. Lots of people are tired of a long commute and want to live closer to work; or they just changed jobs from one end of town to another. They can fit into any of the above, too.
9. Multi-generational buyers. More and more we are seeing single family homes with built in in-law quarters as families are choosing to live together for a variety of reasons. There are some nice new homes like this in the south metro.
Whatever your age and stage, it will be my pleasure to help you find the right home for your circumstance. Please let me know how I can help!
(after I wrote this, I discovered that there is nothing new under the sun — here is an article from a few years ago that described kind of what I am writing about today.)