Highlights From the Profile of Home Buyers and Sellers

One of the most effective approaches to compiling a portrait of potential buyers is the use of a set of interrelated characteristics: demographic, social, psychographic, and purchasing behavior. The group of demographic characteristics includes age, sex, location, nationality, religion, and family life cycle. Experts’ website Characteristics of Home Buyers analyzed how users feel about the purchase of real estate.

Characteristics of Home Buyers

More than half of the audience is interested in real estate – women (58%). The core of the CA (portrait of the real estate buyers) are users aged 19 to 50 years (70%), 72% are middle-income or higher, 71% are married, 74% have higher education, and 76% are employed.

Who buys and what do they pay attention to?

Most of those who bought a home and those planning to buy (around 80%) choose a Home for themselves or their families. Almost every tenth bought or is considering buying a home for relatives. More often than others are considering buying a home for relatives, users over 45 years who are still only planning to look for housing (26%).

For all respondents, price, condition, and location were the most important purchasing factors. Middle-aged people usually have money and are actively spending it on themselves and their families. They are the ones who are usually interested in real estate, cars, and financial services.

Characteristics of Homes Purchased

Buyers typically purchased their homes for 100% of the asking price, and 29% bought for more than the asking price. The speed of selling a house depends on a correctly defined price that is in line with market conditions. You can speed up the process by placing ads on thematic sites and in newspapers. Several measures to give the house a favorable appearance, including cleaning and landscaping of the surrounding area, cosmetic repairs of facades, internal cleanliness, and careful repair of minor details, will help to sell the house profitably.

The year the home was built and its technical condition. Houses in buildings built after the 1990s are most suitable for a mortgage. They should have a separate kitchen. A prerequisite is also the connection of all communications. Most banks are willing to mortgage homes which are located in good areas. The presence of unregistered redevelopment can also be a reason for refusal.

The market value of the property. It is determined by a professional appraiser.

The legal clearance of the house and the absence of encumbrances. Home purchased for a mortgage should not be pledged and arrested and should not have minor and elderly owners. If the housing is privatized, the bank should make sure that there are no unfortunate citizens who can at any time demand the restoration of their rights. It is also necessary to check the legal clearance of sales transactions if the house appeared in them. At the time of the transaction, the homeowner must be legally capable.

Buyers of used homes were mostly satisfied with minor repairs (44%). One in five has not yet begun to make repairs but plans to make do with light repairs, and 17% are not going to change something.

Back to top button