Three Property Purchaser Types

When it comes to selling a property, you will be confronted with many types of buyers.

In order to achieve a successful sale, it is crucial to understand the different types of buyers in today's market.

To attract the correct buyer, marketing of a property should be focused on a specific target market of purchaser. Certain property features will appeal to different kinds of buyers, depending on what they are looking for.

Let's take a look at three buyer types:

The First-Time Buyers
These types of buyers are generally middle-class families searching for home ownership based on their budget. Comfort and convenience with a focus on lifestyle are searched for in a home. These buyers are likely to find properties appealing that have large gardens with room for children to play. Typically, a minimum of two bedrooms and two full bathrooms is sought after to accommodate growing families and space for visitors.

The Generation Y/ Millennial Buyer
These buyers do not rely on schedules or times throughout the year to think of making a property purchase. For this type of purchaser, the property market is a constant in their lives. They are very active buyers, and they are seeking inner city convenience in a suburban environment. These are tech savvy, visual individuals that are time hurried and check listings at any time of day when they are available. In an age of digital nomads and a remote workforce some of these buyers may even form part of this new way of working, therefore technical specs including internet connectivity and home automation will be appealing.

Buy-to-rent investors
A property that can generate revenue while it grows in value over the long term is a priority for this purchaser. Buy to rent investors typically seeks a secure long-term investment that will require fairly low maintenance. A sectional title unit that requires little or no renovation and can be rented out immediately would suit this purchaser.