Besides the obvious challenges that face the property market, economic fluctuations, global market pressures, banks applying stricter lending criteria, there are numerous other variables that similarily effect the value of your property as well as its marketability to a target demographic.
Millenial home buyers. The younger generation is often overlooked in the property market as a potential buyer, largely due to age, but as The National Association of Realtors Home Buyer and Seller Generational Report 2015 cited Generation Y is the largest group of American homebuyers, far outstripping the Baby Boomers. FNB shockingly stated not so long ago that 44% of South African buyers are less than 40 years old. Still want to discount millenial buyers?
Armed with these statistics it provides a lot of context for home owners wanting to sell. Now the buyer is most likely a highly technolgically advanced, connected and informed person. Able to extract information relevant to your property at a click of a button.
That is why it is so essential agents are continually kept up to date with the latest trends, buyer demands, market analysis etc. to ensue they can assist the seller and buyer alike.
Millenial buyers have showcased interests of a different sort. They tend to require homes that are equipped with the necessary additons to set up their state of the art technology, they also show a lot of interest in the potential of a home office space, security features – often of a tech nature, to be installed, the need for ‘green’ features.
All of these variables can be very confusing and often misleading and cost you unnecessary money. Contact Harcourts Maynard Burgoyne in your area and ask to speak to one of our area specialists relevant to your home’s location. We will be able to provide you with the necessary insight into the market to shed light on your home.
Harcourts Maynard Burgoyne Principal