How to Deal with Mom & Dad with First Time Home Buyers

Most first time home buyers tend to be nervous.  Mostly because it’s the biggest investment of their lives (sans education, student loans-- am I right??) and secondly because they may not know what they’re doing or even what they’re looking for.  This means most first time home buyers want to show Mom, Dad, their contractor Uncle and their dog the home they want to purchase before going under contract. Though most agents are more than happy to show anyone their buyers potential new home, time is usually of the essence and multiple showing may mean losing a deal while someone else pulls the trigger with a purchase.  Also usually when first time homebuyers are ready to show a home to Mom and Dad it's the final product after weeks or months of looking and therein lies the problem.  Parents see the final product and assume there must be something better, cheaper, bigger, and so on-er out there for their child.


The problem with the above scenario is that Mom, Dad and Uncle Contractor didn’t see all the other houses on the market that we saw together and they assume there has to be a better options out there.  However,  we know there is nothing better out there because we spent countless hours on countless Saturday's checking all those “not the one” houses out.  Also, parents are usually more seasoned home buyers and may have paid 60K for their first home in 1988, sold it in 1998 for 120k and bought their dream home for 250k, well the times have a changed.  With PMI, taxes, and a mortgage usually finding the perfect home within your budget is nothing short of a miracle and you have to be ready to make the move with or without your parents opinions or be prepared to lose out on your dream home.

I think a good way to thwart the above issue from happening is to ask your first time homebuyer if they would need anyone's approval to feel comfortable writing up an offer.  If they have a few people in mind be sure those people are at the showing of  every house so they can see the full picture.  I think if Mom & Dad are along for the whole ride, they will be less likely to crush a deal at the end of the road and the first time home buyers won’t end up losing out on a great option because Mom & Dad disapproval.

Lauren Clemente

Lauren Clemente

Licensed Real Estate Salesperson
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