Likely Home Buyers Today And What They Are Looking For

One of the ways to ensure that you are able to sell your home quickly and for a good price is to know who your prospective buyers are. That way, if you are going to make any changes to your home so it’s more appealing, you’ll make it appealing to the biggest portion of available buyers.

likely home buyers

Home buying trends change over time. That’s why it’s important to do your homework and find out exactly what’s going on in the market once you’re ready to sell. Even so, certain trends will last for longer periods, and would be a safe bet when preparing to sell your home. For instance, as discussed in the following post, many home buyers today are millennials:

Home Buyer and Seller Generational Trends

Highlights

Since 2013, the National Association of REALTORS® has been writing the Home Buyers and Sellers Generational Trends Report. This report provides insights into differences and similarities across generations of home buyers and home sellers. The home buyer and seller data is taken from the annual Profile of Home Buyers and Sellers.

Just a few years ago, it was wrongly assumed that millennials did not find the idea of homeownership appealing. However, this was only a myth that has since been busted. As the effects of the bubble bust faded, homeownership among millennials began to rise, and continues to do so.

likely home buyers

Some of the reasons that have been put forward to explain this trend include the fact that more millennials are working. Many of them work in urban centers, where rents are ever increasing. So what does that mean for home sellers? It means thinking of millennials as possible buyers of your home, and making the most appropriate changes whenever possible. The following post offers some tips:

15 Things Millennial Home Buyers Look At While Buying A House

The millennials, also known as Gen Y’ers, are the generation with tons of options and a lot more ways that help them figure out the right ones for them.

Millennials love analyzing and making very informed decisions about everything in their life, given the Internet has made this process quite easy. Read full post at Rochester Real Estate…

Another reason why millennials have become a huge part of the housing market is simply because they are growing up. Once they start working and move out of their parents’ basements, the next natural step is to start a family. Having kids has always been a major precursor to buying a home.

likely home buyers

Yet another group you may not have prioritized on your list of prospective buyers is single women. The following post explores this growing trend:

Twice as many single women are buying homes as single men

Women’s pay may still lag behind that of their male counterparts on average, but single women are taking the lead when it comes to purchasing real estate. In fact, single women are buying homes at twice the rate of single men, and they have been for at least a few years now.

That’s according to data from the National Association of Realtors’ “2017 Profile of Home Buyers and Sellers.” Married couples made up the largest share of homebuyers last year at 65 percent, but single females came in second with 18 percent. Just 7 percent of buyers were single men. Read full post at CNBC…

It is also worth noting that single women become even more likely to buy a home as they get older. In fact, women over 55 have been the fastest-growing demographic of home buyers since the 80s. Many of them have become widows or are recently divorced and are looking for a fresh start.

likely home buyers

Understanding what buyers want may not be very helpful if you do not have the financial ability to make your home appeal to them. However, there’s yet another group of buyers that might just be perfect for you – real estate investors.

If you would like to sell your Biscayne Park home fast and easy, Sell Fast Fair Offer is here for you. We’ll buy your home as-is, and you can expect a cash offer within 24 hours of your contacting us. You won’t have to worry about making any changes to your home, paying commissions or closing costs. We’ll cover it all. Call us on (305)590-8500 or fill in the contact form below.

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