How many homes or investment properties does a house hunter view before making a buying decision?

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Like all things in life everyone is different.  Buyers have different mindsets, motivation and desires. In the majority of cases an Owner Occupier searching for a new home is invariably governed by their Heart, whereas an Investment Property buyer (some of whom never even view the property), is all about $$$$ return and capital growth.

On average we find that our clients get overwhelmed with too many options that’s why we work one on one to create a very detailed brief to cut out the stress and narrow it down to those properties we know will tick the majority of boxes.

Our Rule of Thumb :

  • 4 Great Properties that meet the maximum criteria
  • 4 Good Properties that meet the majority of the criteria
  • A couple off surprises! Like a Secret Santa house we purchased last year!

In a rising market, as is current in a lot of Australia, with low stock levels and schooling being a major criteria for many, purchasing timeline is critical more now than ever. If you are wanting to move to a school catchment you will be without doubt just 1 of many families wanting to achieve the same goal with the added stress of NO LOCAL ADDRESS NO SCHOOL PLACEMENT.

Parents may decided to go for a Good v Great property option to “buy the address” and more importantly keeping to their budget.  We never encourage people to over stretch themselves as there is absolutely no point and a house for most people is not for life. So we always recommend, live for the now because life has a habit of changing and a smaller property in a good area with potential for the future is always a good option rather than a larger home where you could be financially struggling which in turn causes extra stress and uncertainty.

Case Study:

Client’s of ours who set their hearts on a specific location were advised by us that style, size and location of properties they were seeking were not available withinin their budget.  However, we guided them and bought a smaller property with fantastic extension opportunity in the perfect location within budget…..Dad just didn’t get his dedicated study!  However the children are at the schools of choice and they are happy!

Our recent private survey we conducted gave us the following information from a group of 30 potential buyers both existing homeowners, first home buyers, investors and downsizers.

  • Around 30% said they would view up to three properties, and probably would be happy to make an offer on one of the first houses they viewed
  • Around 10% were less decisive and thought they would view a total of 16 homes before coming to a decision
  • Existing homeowners said they would view more homes due to their previous experiences
  • First Home Buyers due to eagerness and lack of property knowledge, either believed they would rush and buy the first thing they see of hang around too long using up their finance pre-approved period to find they can’t get the same deal 3 months later
  • Overall the majority felt that location was paramount and more so for current homeowners than First Time Buyers
  • The majority said that good Kitchens and Bathrooms would come above bedroom sizes
  • Parking seemed more of a concern than block size
  • Local amenities and transport links depended on location and lifestyle
  • In general, most people felt that they had no-one they could trust that was 100% on their side
  • First Home Buyers seemed generally to feel overwhelmed and stressed out with the buying process
  • Some parents said that their children were getting so frustrated having their Saturday’s taken up looking at houses
  • People wanting to downsize were forever frustrated with agents offering the wrong properties and wasting time
  • There were many other comments the above were the most prevalent.

As Property Buyers Agents with over 40 years joint experience in the property market and investors ourselves, we understand that 1 size most definitely does not fit all!

So, what is our aim:

To ensure that everyone gets a Fair Go and not get hoodwinked into believing they have no option other than to believe everything the selling agent tells them.  Whilst real estate agents are close business companions, we are totally Independent Buyers Agents working 100% for our Buyers with no affiliation to any one agent.

If any of the above resonates with you, we would love to chat and see if we can assist you.  All conversations are 100% confidential and our FREE STRATEGY CALL is a click below (Choose one of below!)

https://scottpropertiesgroup.click/free-45-mins-strategy-session

https://calendly.com/scottpropertiesgroup/free-consultation?month=2020-02

We look forward to having that chat!

Simon & Sue

 

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