Buying property is such a big financial commitment that most buyers think long and hard about the reasons for taking such a step. This is important because these reasons determine the borrowing strategy, the type of property they choose, and the location in which they purchase.
First-Home Buyer Trends
First-home buyers, for example, are usually on a limited budget and they are looking for a home or unit to occupy. If they are single and busy with work and social commitments, they are more likely to purchase a unit than a free-standing home. Usually they are not interested in spending their spare time tending gardens and doing maintenance.
Young Families Need Space
First-home buyers with a young family need more space and are more likely than the singles to opt for a three or four-bedroom home on a small block where children and pets have room to play. Of course, not every buyer is looking for their first home, so there are several other reasons for the ongoing popularity of real estate.
At Bunbury Real Estate, we see all kinds of people who are looking to buy property here for all kinds of reasons. Our professional sales team listens to their clients and are skilled at assessing their needs. We will not waste their time taking them to inspect properties that have none of the features they are looking for.
Second and Third Homes – Space Chasers, Carers, Down-sizers
In the non-first-home buyer category, we deal with people with a range of needs. Clients may want to owner-occupy their second or third house as their family grows. They may need space for an elderly family member who needs care, or for someone with a disability. We are seeing more older clients than ever who are down-sizing from the family home into a comfortable unit or apartment as they increase their social activities and retreat from the upkeep of a large property.
The Small Investor
We have not forgotten the investor in this review. Our region has many investment opportunities for sole investors, investment groups and SMSFs (self-managed superannuation funds). The residential property market is attractive to investors because of government tax incentives such as negative gearing, but it is not the only type of property to pique their interest.
Experienced investors look at commercial and industrial properties that are showing a regular income from long-term tenants. They are usually more interested in steady cash flow over a longer timeframe than holding their investments for a short-term capital gain. Developers look for large parcels of land for subdivision, usually for housing, in long-term projects.
All Enquiries Welcome
The area at Bunbury serviced by our office has many opportunities for all types of purchasers and we welcome all enquiries and inspections.