Desperately seeking real estate status

Flickr photo by Jessep242.

It is said that marriage is a public statement of two individuals' commitment to each other. (This supposedly explains the need for witnesses -- though in my crowd, nuptial attendees view their job description as limited to eating, drinking and merrily gifting Crate & Barrel place settings.) In terms of life steps and commitments, a close second to getting hitched is getting housed -- buying and owning a home.

This begs the question: What does your house say about you? More importantly, how do buyers and homeowners consider the "public statement" factor, if at all, when they are choosing and customizing their homes?

In my experience, some buyers do and some don't take what their circle will think into account during the house hunt and inevitable post-closing remodeling process. An evolutionary economics book I read recently posited most modern buying behavior in terms of status-seeking, and this certainly comes up occasionally with homebuyers.

In my area, though, almost as often I seem to run into folks who care only that their circle knows how little they care about widely accepted indicia of residential status, to the point that they are still status-seeking. The only difference is that the status they are seeking is that of an anti-materialist non-status-seeker.

So what is this residence bling that buyers want to flash -- or flout?

Location, location, location.

I live -- and sell real estate -- in a city of neighborhoods. At last count, there were well over 30 distinct, named neighborhoods within my city's limits. Recently, while working with a newly relocating buyer, I found myself playing what I call "Neighborhood Flavor" word association with them as they read various neighborhoods they'd heard of from this city neighborhood map I'd (very thoughtfully, I might add) sent to them.

Them: "Rockridge." Me: "Pricey, upscale, walkable. Mostly single-family off the surface streets. Big bucks per square feet. Streets filled with expensive strollers, $20/class yoga studios and great restaurants. Frites, not fries."

Them: "Grand Lake." Me: "Huge organic farmer's market, vintage movie theater with political marquee rants. Lots of babies, but cool to live off-the-grid. Homeless people and apartments and million-dollar homes really close together. Diversity chic."

It's one thing for you to want to live in a particular sort of neighborhood because you like it, irrespective of what others think of the neighborhood, good or bad. And I suppose it's sensible to want your neighborhood to align with the flavor of person you see yourself as.

I'm working with buyers as we speak who prefer to live in areas that feel less slickly upscale, more human and otherwise are more comfortable -- both for them and for the friends and family they entertain.

I've had buyers who prefer gated living for quiet and security, but I've had more comment that to live in any sort of gated community would feel like making the public statement that they were exclusive and isolating -- the opposite of their self-perceived persona. Both of these seem reasonable ways to navigate the house hunt toward a location that fits. ...CONTINUED

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