As with any transaction, understanding what the buyer wants is a critical factor in how you should present and advertise your asset. Understanding what they are looking for is a great way to change your approach and emphasis, as well as a good way to prioritize any last-minute renovations before your listing. Therefore, let us review a few of the most common reasons that people buy a property.

 

In this article, we will ignore investment properties. Some people buy properties they have no intention of living in. Whether they are flippers, want to rent, or are interested in your home for another reason, their priorities are often different than the average buyer. For example, they might be looking more closely for things like easy renovations, or the ease of upkeep of the property.

 

When people go to buy a new home with the expectation of living in it, there are typically three different scenarios. First, people are looking to upgrade their standard of living. If they have been renting or living in a smaller house, they might eventually decide they want an upgrade. This could be because of financial success, leading to a desire to invest their larger income in a nicer place to stay, or even because of a growing family. Many times, couples will seek larger homes if they have several children, realizing that the additional space is necessary. To these people, the quality of living experience is the most important factor. They want a home which is pleasant to live in, which might have nearby amenities such as public schools, parks, or urban centers. Renovating your home or doing research on local activities and services can help you appeal to these buyers.

 

Others are buying a house for the opposite reason. Whether they are undergoing financial stress, no longer have a large household, or simply want a property which is less of a hassle to maintain, these buyers are focused on value. They want a property which they can get at a good price, but that will not significantly decrease their standard of living. Comparing your price to other nearby sales, or appearing to negotiate on price (build some negotiation room on your initial listing) can help you appeal to this buyer.

 

Finally, there are people moving for geographical reasons. Maybe they want to be closer to family, work, or simply want to live in a certain neighborhood. You can't change your location, obviously, but on your internet ads, use keywords which will be picked up by those far away, such as the names of local business centers.