LAST HOME SELLERS
You are here because you are considering or planning to purchase or sell your home for the final time. There are many reasons we find ourselves in this process. So, we are here to assist you in this process with a personalised service to achieve an outcome suited to your needs. We specialise in finding creative solutions for creative outcomes.
Research has shown that Buyers 53 to 62 (Younger Baby Boomers) consist of 18% of recent buyers market. They are most likely to buy a multigenerational home. As the Sandwich Generation, they are equally likely to buy this type of home for both children over the age of 18 living at home and caretaking for an ageing relative. This group usually buy for an array of reasons such as a job-relocation, desire for a smaller home, and the desire to own a home of their own. They have higher median household incomes. They also project the length of time they will live in their home is the longest at 20 years.
Buyers 63 to 71 (Older Baby Boomers) often move due to retire, a desire to be closer to friends and family, or for a smaller home. They typically move the longest distance and are less likely to make compromises on their home purchase.
Buyers 72 to 92 (The Silent Generation) represents the smallest share of buyers. Most of these buyers are likely to have retired or scaled back their work demands. They have the lowest median household incomes. The primary reasons to purchase are the desire to be closer to friends and family, the desire for a smaller home, and for retirement. They are not likely to purchase a detached single-family home. Many purchase in senior-related housing and they tend to purchase the newest homes.
Among Home Sellers, those aged 38 to 52 years make up the largest generation of sellers at 26%. These groups are generally not the last home seller sector however, form an important role in contributing to market stock. They value real estate agents knowledge of the neighbourhood more than other generations. A consistent trend is sellers 52 years and younger tend to trade up to a larger and more expensive home when they buy.
Sellers 53 years and older make up 23% and stay at similarly priced and sized homes and are often downsizing to a lower priced home, when they buy.
Findings from the National Association of REALTORS® Home Buyers and Sellers Generational Trends Report
Sellers 72 years and older can be reluctant to move, as they have become attached to the property for many years, with many memories, but are unable to maintain and enjoy it anymore. We empathise with you and work in collaboration with other family members, when necessary to plan, search, prepare and pack for the final home destination. Part of this process is to prepare the final home for your comfort before moving in.
All generations of Buyers continue to consult a professional to help them buy and sell their home. Buyers need the help to find the right home, negotiate terms of sale, and help with price negotiations.
Sellers look for help to market their home to potential buyers, sell within a specific timeframe, and price their home competitively.
Refer to our story with Gerry and David – Lithfield Project. (hyperlink to page)
We look forward to being of service and working with you, to create a win-win outcome.