Challenges for Gold Coast Home Buyer’s

We love shopping for new things like buying a car. You choose the brand, model, colour and driving gloves (joking), everyone loves the process.

Buying a home is similar at the start. All excited, scrolling online, visiting open homes and imagining yourself moving in.

So why is it after months looking for a home many people dislike the process and even give up?

Is it the cost and commitment that causes them to overanalyse and miss out?

Is it the constant rejected offers?

Or, there is no warranty upgrades available?

These all play a part, but I believe it’s something else.

The time lost.

Time is a finite source we don’t get back and after months of looking it’s no longer a novelty but a chore.

An article by realestate.com.au in 2021 found the average time a buyer spent searching for a property is 9 months.

Some may argue that time is spent educating and researching and I agree to a certain extent.

However in Elanora, Queensland recent data on quarterly median price change (suburbsfinder.com.au) for houses has been 1.30 % ($15,000) from June to August 2023.

If the average buyer in Elanora is spending 9 months searching, the cost can be $15,000 + over the last 3 months.

Most readers would agree time and money are a constant challenge in life.

If you add the biggest purchase of a buyer’s life on top it’s easy to see why they get overwhelmed and discouraged.

When you buy a car you get a warranty. When you buy an established home there’s no warranty.

Queensland has the weakest disclosure laws in Australia no wonder the average buyer takes so long and overanalyses the process.

The risk is all on the buyer, “Caveat Emptor” “let the buyer beware”.

How can the average Gold Coast buyer overcome these challenges?

Outsourcing the time, cost and due diligence to a buyer’s agent.

Albert Einstein once said, “Insanity is doing the same thing over and over and expecting different results.”

Using a buyer’s agent on the Gold Coast is a new idea for some but those that do keep their sanity, have cash left over and get their time back.

Matt Gibson

September 25, 2023