5 stages of the homebuyer journey

Today we will talk about the stages that a buyer commonly goes through when buying a property, specifically in tourist areas such as #PlayadelCarmen #Tulum y #Cancun


There are some buyers then other buyers.

There are conservative buyers and others who are more impulsive. Some can't be decided and some are like lightning making a decision, but the process is generally the same. Let's see.


FIRST STAGE.- CONTEMPLATION

At this time the buyer or buyers begin to dream. Without realizing it, the topic of buying a new property comes up in your mind and in your conversations. They imagine themselves visiting houses near the sea to use it very often at every travel opportunity. When they get together with their friends, they bring up the topic of a real estate development they saw or that such a "compadre" knows such a builder, the one who built a nice custom-made house for him.

There is also the bussines man or expat who rents and who begins to consider the idea of ​​having something of their own. There can be many and very different reasons that make a person want to buy a property, but in general they are aspirational reasons to have a better quality of life.

If you are reading this post, it is likely that you are at this stage yourself and you have inadvertently arrived here, so keep reading to get an idea of ​​what is coming.

SECOND STAGE.- ONLINE RESEARCH

Most buyers start at this step without being aware that they have already been thinking about it.

Today EVERYTHING is on the internet, so much so that it can become complex. We have so much information in a wide variety of channels, such as search engines, social networks, forums and mobile applications that it is almost impossible not to be well informed about the topics of our interest.

But beware! We also know that there is so much misinformation and lack of regulation that we should not believe everything we see.

At this stage it is very important that you gather as much information as possible about the potential area, the agents in the area, prices and financing options if necessary; this will serve you well in the next stage.

THIRD STAGE.- THE SEARCH

Now yes, there is already a decision! During the two previous stages, all buyers form a general idea of ​​what they want, what is on the market, the amount they are willing to invest and what is most convenient in terms of size and location.

When you are actively looking for a property, the parameters are more defined, this is where you should look for educational resources such as guides for buyers or comparisons by area to narrow down options. It is also when everything begins to become more real, when relationships with financial advisors, real estate agents or credit brokers begin to be established. These professionals from the real estate industry will help you in the selection process, will explain in more detail how to carry out the sale from start to finish and will be there with you to support you. It is important that you look for like-minded people, who are trustworthy and who show that they are prepared, professional and dedicated people.


FOURTH STAGE.- THE MATERIALIZATION

When this stage is reached, everything begins to happen and becomes almost tangible. Negotiations, offers, counteroffers, agreements on dates, amounts, forms of payment, signing of contracts, trips, sometimes nerves and sometimes secrecy.

Each head is a world and each sale closing is different. It is a period of time full of energy where each member involved in the process wants the time to formalize with the signing of the Deed before a Notary Public.

A relaxed but attentive attitude is ideal for things to run smoothly and clearly.

FIFTH STAGE.- POST-SALE

Most buyers don't consider this stage as part of the process, but it is very important that they think about all that will happen once they take possession of their new purchase.

It is now when they must furnish or decorate to their liking and these are expenses that must be taken into account.

In the case of new housing, there is a period of time in which certain details of the construction called hidden defects may arise. It may be that a shower does not work well or that some equipment is not properly installed, for example. These are problems that could not be known until they start to be used. Buyers should be aware that the developer must offer a one-year warranty on hidden defects by law. Good communication between the buyer (or their agent) and the seller is crucial so that these details are dealt with promptly.

Within the post-sale stage, there is also a waiting period of between 3 and 4 months for the public deed to be duly registered. Once this period has elapsed, it is time to call the Notary to confirm that everything is ready and go to collect the physical deed.

 

It depends on the use that is going to be given to the property, it is determined when the process is terminated. If it is personal use, everything is ready, but if it is an investment for use and vacation rental purposes, another stage dedicated to the management and administration of rentals should be considered, but this is a topic for another day.

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