As in any sale, one must have a keen understanding and profile of the purchaser of their product. The same is true for anyone who is contemplating a successful transaction in an ever-changing real estate market. Over the years I have observed a change in buyer’s expectations when searching for that right home which meets their requirements.

Young people today are delaying marriage and having children later in life. This has led to the increase of single buyers purchasing on one income and a more cautious approach to their search. This group typically 25-32 years of age are looking for homes that require little updating. They do not have the funds to make major repairs such as updating kitchens and baths, or correcting structural issues. Their price range would be in the lower price point of the market in the community they choose. Since this is usually their first home, they do their homework and are more educated in the real estate market than ever before, due to the proliferation of information via the internet. A seller today would be smart to (more…)