First time Buyers look to re enter the market

If you are like most Canadians, you are well aware that the national real estate market has cooled. However, with any changing market comes a new opportunity.

With today's incredibly low financing costs and in many markets, an easing of price increases, the monthly carrying cost of many Grey Bruce homes for sale have becoming much more affordable.

That is good news for many home buyers, especially first time homebuyers looking to buy a home in Grey Bruce and who may have previously been locked out of the market.

First time Buyers Represent an Increasingly Important Segment of the Market

First time buyers will represent an increasingly important segment of the market. In an exclusive study of first time buyer preferences across North America - including Canada - finding a home at the right price was the biggest concern for 49% of first time buyers, far outdistancing any other factor, including property value appreciation, which came in at only 7%.

The bottom line is that first time buyers looking to buy a home in Grey Bruce are far more concerned with getting into a home and managing their carrying costs. Whether or not the Grey Bruce property they purchase achieves big gains in value, is not their primary concern as they try to break into the housing market.

As a Grey Bruce Seller, How do You Attract First-time Buyers

So, if you are selling a Grey Bruce home, how do you attract these increasingly important first-time buyers? The study indicated that these buyers did not want to invest additional money into improving the Grey Bruce property. Rather than shopping for fixer-upper bargains, they wanted something turnkey ready.Not surprising, when you consider that this group is typically young professionals trying to get their career on track, and perhaps starting a family at the same time.

The message is clear - if you can offer a first time buyer an affordable Grey Bruce property that does not need a lot of fixing up, is in an accessible area to get to work, shows well and carries like rent, you will be hitting their Grey Bruce buyer hot buttons. In addition, ticking all those boxes on a first time buyer's checklist means you have greatly improved your chances to win these buyers, regardless of how Grey Bruce property values may or may not be appreciating at the time.