WELCOMETO

What Kind of Buyer Are You in Ferntree Gully?

Buying and selling property are terms easily understandable to laymen. In fact, these two terms are most widely used among common people. Everyone knows the definition of buying a property and selling a property. But the truth is that the real estate industry is not limited to just buying and selling. There are a lot more things that go along with it. Just like the industry itself, real estate has a wide terminology. For instance, if you are looking to buy a home or property in Ferntree Gully, you will fall into the buyer category, which also has its types like; first-home buyer, investment buyer, etc. Similarly, this is the case with the selling of homes or property.Now, let us see what does the property market hold and how does it define the types of buyers in the market.Basically, the property market has identified three purchasing

groups First-Home BuyersRelocators (Upsizers and

Downsizers) Investment Property buyers

If you are thinking of buying a property in Ferntree Gully, or nearby suburbs, the best way is to hire a real estate agent. DJ Randhawa is the best real estate agent offering his expertise in Knoxfield and Ferntree Gully. Contact him for any real estate needs.Now, let us understand what type of buyer are you. Are you falling in the category of first-home buyers, relocators, or investment property buyers?

Who are First-Home Buyers (FHB)?

As the name suggests, these are the type of buyers who make such a big purchase for the first time in life. People usually tag newlywed couples as first-home buyers but this is not the case all the time. Anyone, irrespective of age, if buys a home or a property is regarded as the first-home buyer. The first-home buyers looking for an entry-level home.The young couple or even the single youngsters who plan to shift from their parent’s home may look for the property.They will also fall in the same category. The first-home buyers buy the property at sub-median prices and may even want to start a family. Such home buyers have limited capital and minimal assets. These buyers are also highly sensitive to interest rate movements. They are even scared of missing out on the ‘Great Australian Dream’.As per the news, the average age of the first-home buyer has risen from 33-years-old to 35-years-old quite recently.

Who are Relocators?

Relocators are those who either want to move to a bigger space or a smaller place. The relocators are also of two types: upsizers and downsizers.

Upsizers

These are the buyers who look forward to buying a bigger home compared to the previous one. For instance, if you are living in a two-bedroom set house and you want to shift to a three-bedroom set, you fall in this category of relocators.

Downsizers

These are the buyers who look forward to buying a smaller home. For instance, if you are living in a three-bedroom set home and want to move down to two-bedroom set home, you will fall in the category of downsizers.Relocators look for a speci c property type like something bigger, better, closer, or smaller.Depending on the finances, some may sell their home at a good price first and then make a shift or some may want to buy without selling their current property.

Investment Property Buyers in Ferntree Gully

These are the type of buyers who aim to buy homes and properties to make money. These are the people who may not compete on price and, in theory, should never buy at auction. These are the buyers who would either give their property on rent or earn revenue.All the above groups have different motivations and based on that they make the final decision.

41/1470 Ferntree Gully Rd, Knoxfield VIC 3180, Australia

(+61) 452 054 470

dj@knoxpropertyexperts.com.au

Content Resource:https://knoxrealestate.weebly.com/blog/what-kind-of-buyer-are-you-in-ferntree- gully

GET IN TOUCH