Upscale Homes

Posted on November 21, 2011 by Admin
Upscale Homes

Upscale Homes

Certain types of residential areas usually attract a predominant type of home buyer. A suburb near an elementary school will probably attract families with young children. A condo in the heart of the city, on the other hand, often attracts a high number of young professionals.

The type of home also dictates the most likely buyer demographic. A single-story home with a garage might appeal most to seniors or empty-nesters while a three-bedroom house with a large yard appeals to families moving up the "property ladder."

So how does this information help you sell your house? Use it when home staging to most appeal to your market. Use it to select a realtor. Or use it to help market your listing if you sell your house yourself.

Let's take a look at a few of the most common home buyer demographic groups.

Home Buyers Looking for a Starter Home

Single-family homes and lower-end condos or townhouses will most likely appeal to buyers currently climbing onto the first rung of the property ladder. Starter-home buyers are usually renting when starting their search. Your most likely home buyers then will come from areas that have rental rates in keeping with the mortgage payment of your home.

Look for a realtor that specializes in targeting first-time home buyers. In real estate market slumps, reaching this market can be a good selling strategy for some realtors. If selling your house yourself, send out flyers or postcards to apartment complexes in your neighbourhood.