A quick snapshot of 2020.
It’s going to be a big year – for both buyers and sellers!
For buyers: with the help of the First Home Loan Deposit Scheme + Lowered Interest Rates, 2020 is a good opportunity for buyers to enter the market and/or continue building their portfolio.
For sellers: with the current low levels of supply and high demand from buyers, 2020 is definitely a good year to sell your property. More first home buyers will enter the market.
What do buyers want in 2020?
If anything, buyers have become savvier and appreciate a more minimalist style. Before anyone makes a purchase, a substantial amount of research about the potential home is done – just on google!
Just on google maps, the buyer can find lots of information about the surrounding area, 3d view of the house, street, suburb and more.
Convenience is key in all aspects. Is the house in a prime location? Is it freshly renovated and ready to move in? Can I find all the information online?
So we’ve summarised the key things buyers are looking for in 2020:
Surroundings. This may seem obvious but we’re receiving more and more enquiries about
- Good school zones
- Closest public transport, especially nearest train stations and buses
For example, the buyer will search, “schools in Blakehurst area” or “Nearest train station” and get the following google maps result!
Home features. Homeowners are becoming more vigilant, and thanks to technological innovation, it’s becoming more common for people to install surveillance cameras. There is also an increase in demand for spaces within the home for those who ‘work-from-home’.
- Home security features
- Home offices or spare rooms that are ‘entrepreneur’ friendly
Low maintenance & ready-to-move-in. Cost of living is high, let alone building and renovation costs.
- Single-level homes with smaller garden or lawn areas
- Homes that don’t need renovations
- New over old – must be ‘brand new’ or ‘recently renovated’ to avoid construction costs
Presentation. Buyers don’t want to feel as though they’ve walked into YOUR home. The property should help the buyer imagine themselves living there, so remove ‘unique personality’, especially aesthetically speaking.
- Modern, neutral and clean colour palettes
- Clean, sharp and minimal designs
- Neutral styling with no memorabilia
- Opt for a fresh look, ensuring there are no defects, stains, outdated fixtures etc.
Ask your local agent what buyers are asking for.
The best way to find out what buyers specific to your location is asking for is to ask the real estate agents! They are in conversation with both buyers and sellers on the daily and can tell you what was a deal-breaker, and what helped get the property sold in record time.
Want to sell your home in 2020? Are you in the St George area? Waste no time and get in touch to get our best insight.