The Different Types of Home Buyers

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Who needs a home? The answer to the question could fill a two-hour long philosophy seminar with energetic discussion. But when it comes to those selling a property, it is an essential consideration. The answer is, of course, “everybody” and what this should tell those looking to sell a property is that there are many different types of buyers – and all of them have different needs.

Targeting the Right Buyers

However, reaching such buyers can be a little more complicated than you might think. The essential question is, of course, who is the right buyer for my property? There are typically multiple types of buyers who could be interested in a specific property, and your best chance of making a sale is to target them all. For sure, a three-bedroom family home in the vicinity of a good elementary school will appeal to young families, but have you considered also that thatbusiness park three blocks over will also make the home attractive to young professionals yet to have kids? It is rarely only one type of buyer who will be interested in any given property.

In order to cast the net as wide as possible – as it were – you would be well advised to seek the help of a professional realtor. CityHome Collective, a real estate brokerage specializing in luxury properties and condos, advise that only with detailed market knowledge can you identify the buyers who might be interested in your property andreach them as well. Only a quality real estate brokerage has the means to do this because, not only can they get the listing out as far and as wide possible, but they might already be in contact with specific buyers who might be interested in your home. Professional help, in other words, is a must.

The Different Types of Home Buyers

That said, it isalso a good idea to wise up on the different types of buyers out there. With a good working knowledge of the market, you can prepare your home accordingly, or plan for the future if you’re not selling yet. Here follows then a few of the different kinds of home buyers:

Move-Down Buyers

Move-down buyers are high net-worth individuals who are looking to downsize. These buyers are typically older people whose families have moved out. These people are looking for smaller low-maintenance homes that are, nevertheless, at the more expensive end of the spectrum.

First-Time Buyers

First time buyers are those young well-off buyers who are looking to get a foot on the property ladder. Sometimes they are families and sometimes only couples. More often they are couples looking to soon have kids. Therefore, a family-sized home is necessary for these buyers.

Move-Up Buyers

Move up buyers are those who are looking to trade in their existing homes for larger and more luxurious properties. Such buyers typically appreciate the extras more than the essentials and will be looking for a modicum of luxury experience.

Investor Buyers

Investor buyers are essentially real estate investors of a high net worth who are professionals themselves when it comes to buying and selling homes. The main thing these buyers are looking for is a home they can improve and then sell on.Theoretically, this could be any type of home.

There are several other types of buyers out there, but these are the ones you can expect to find most often. As mentioned, you should consider whether your property would be attractive to these buyers, prepare accordingly and then get in touch with the realtors in order to reach them.

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Provided by homelight.com

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