Property Insider
Email us. propertyinsider@echo.net.au
Who will buy or rent your property? Knowing who is the likely buyer or renter of your property is a great way to maximising the potential return. What ÄˆĂŤĹ• ơĹ&#x;Ć– ÄŽĹ&#x; Ć?Ĺ&#x; Ç• Ĺ•ÄŽ Ĺ&#x;Ć–Ć?Čƒ Who wants to live in your area? You probably have a feel for the demographics in your area. Have you noticed them changing? Are there different types of people moving in, perhaps families with young children? Suburbs, like people, have a lifecycle. A simple way to find out is to touch base with a few
real estate agents to see what kind of customers they have looking for property in your area. Real estate agents often have waiting lists of buyers and renters. It is in their interest to build relationships with property owners in the area and so they will be able to you give good insights and advice. Finding out the kind of people moving into your
area will also shape how you could make your property more appealing, so you can maximise your sale price or rental return If you are considering making some changes once again check with an agent as to whether they think they are going to give you the return on investment you are hoping for. This list from an article in Acceptance Finance’s latest newsletter (see Russel Shaw’s ad in The Echo Property Business Directory) identifies some features that may be popular with different demographics.
Demographics and features they may desire Families
Mature independent (over 35)
• Easy-clean flooring • Good cooking facilities/dishwasher • Plenty of storage/laundry space • Child-friendly yard • Secure outdoor facilities for pets • Sizeable garage
Independent young people (under 35) • Trendy dÊcor • Wi-Fi and the latest gadgets • Dishwasher • Low-maintenance courtyard or garden • Renovated bathroom/kitchen • Off-street parking
Budget carefully and spend wisely. Ensure the renovations make the property
• Energy-efficient features • Easy-clean dÊcor/flooring • Plenty of storage spaces • Pet amenities/garden • Security features • Off-street parking
Elderly couples (downsizers) • Entertaining areas for family and friends • Security features • Low-maintenance property • Pet amenities
easier to rent out or sell; for example, there’s no point putting in a swimming pool
if renters and buyers in your area are not interested in having one.
coastal & hinterland sales
B I N N A B U R R A 100 Binna Burra Road $3.5 million Katrina Beohm 0467 001 122 8
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0467 001 122 www.echo.net.au/byron-echo Byron Shire Echo archives
N E W B R I G H T O N &DVRQV /DQH $1.295 million 1
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