Property-Deciding on Your Market

Quoted from the book called Property Ladder by Sarah Beeny. The tagline said “How to Make $$$ from Property” (they actually used the pound symbol, as it was a British publication).

This is the summary of the section called ‘Deciding on Your Market’:

‘The market for buying or renting properties can generally be split into the following categories. Their relative important will vary depending on the area. To work out which sector of the market you should be targeting your property towards study the market descriptions below. You should also check out the local amenities to see who the shops and services are gearedto and bear this in mind to help you identify the market.’
The Market (summarized)

Students – ideal rental market, near college/university, don’t expect top qualityYoung professionals – first-time buyers or professional rental sharers, comfortable surroundings, decent-sized rooms, good transport links.
Older professionals – second-time buyers, expect high quality finishes and an eye for designYoung couples – house buyers, kitchen and garden important, near schools and amenities.
Growing families – house buyers, plenty of separated living space, large garden, established residential area
Downsizing households – smaller home, bungalows popular, comfortable surroundings, low-maintenance.
‘The key is to appeal to as many of these market categories as possible. The greater the number of these different groups interested the more likely you’ll be to get the sale at the price you want. The ideal situation is to have two or more interested buyers – you have a greater chance of achieving your asking price and getting a speedy sale.’