Today’s Home Buyers
Who's in the Market? In addition to older generations, Millennials have entered the home buying market. The average age of most home buyers is 35-44. Many of these buyers have a household income above $50k. Buyers in and around the Pittsburgh area have a median HHI ranging from $60-80k.
Home Size Matters Home size continues as a significant factor in the decision making process for many buyers. Extra bedrooms, spacious living areas, and larger yards are often high on the priority list as they accommodate family activities, hobbies, and even the possibility of multigenerational living.
Sustainability is a Factor Homes are increasingly being designed with a focus on sustainability and efficiency. Homebuyers are looking for properties that offer ample space without compromising on energy efficiency or environmental impact. This trend is influencing how new homes are built and how existing homes are renovated, with a growing emphasis on smart technology and eco-friendly materials.
Research is Key Homebuyers today are more informed and proactive than ever before, often starting their research months, if not years, before they’re ready to make a purchase. They dive deep into market trends, neighborhood statistics, and property details, using a combination of online resources, mobile apps, and social media to gather information. In a competitive market, staying visible and relevant throughout the buyer's journey is essential. By combining early engagement with a strategic, multi-media approach and effective retargeting, you can build strong connections with potential buyers, guiding them from initial research to closing the deal.
Real Estate Investors
A Steady Increase There are nearly 11 million investment property owners and that number continues to grow. These investors appear more established (age 45+, married with an income of $100k and above) and many are planning for retirement, viewing their real estate investments as a key component of their financial security. They often approach property ownership with a long-term perspective, focusing on building wealth over decades rather than seeking quick gains.
They're expanding These investors have often invested in a variety of other industries and are ready to expand into new outlets like real-estate investing. Their homes and wealth signify social status and can bring additional income. As they build their portfolios, these investors value properties that require minimal maintenance and have strong tenant demand, ensuring consistent returns with less hassle. They may work closely with property management companies or seek out turnkey investment opportunities that offer hands-off income generation.
Repeat Customers Seasoned investors tend to diversify their holdings, often owning multiple properties across different locations. They are more likely to invest in residential properties such as single-family homes, multi-family units, or condos, but some are also expanding into commercial real estate, vacation rentals, and mixed-use developments. They value a brand that's trustworthy and creates a positive experience for them.
We Can Help!
In a market that's becoming increasingly competitive, understanding the preferences and behaviors of new homeowners along with established investors is crucial. Our team at Dail Digital is here to help you serve as a trusted advisor to your preferred clientele. We can provide you with logoed promotional materials and a customized marketing plan, from a personalized website to consistent digital communication. Reach out today for a complimentary 30-minute intro call!
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