When preparing your property for sale, you should keep in mind the kind of buyers in the area. This will help to determine your target market quickly. There are different categories of buyers depending on the property market.
These are people looking to downsize from larger homes upon retirement or after their children have moved out. If you have a smaller home that requires less maintenance, this would be the buyer to target.
These are buyers that usually want to trade their small property for a bigger one. This includes people who’ve had a change in income, just married or expecting a baby. Medium to large homes in larger communities with good schools are a better fit for these buyers.
These are families who want to own a home. These buyers generally want a comfortable, live-able home with room for expansion. Homes for these buyers tent to have two or three bedrooms with smaller square footage and a lower price point. First time buyers will be looking to finance most of the purchase price.
Investors buy to make a short or long-term profit. Homes ideal for investors will be outdated or need significant repairs. These buyers will pay cash and close quickly.
Knowing who is buying in your area will allow you to price and market your property according to the expectations of the person most likely to purchase your home.