The 5 types of home buyer — which one are you?

5 types of home buyers
Are you a savvy single or an empty nester?

Find out what type of home buyer you are and where you should focus your search to purchase a property that meets all of your needs.

If you’re thinking about buying or building a home, and you’re looking for information on where to start, what to do, where to look — you’ve taken the right first step. Information gathering is just as important as negotiating the right price for your first home. You need to understand the property market and how you fit into it in order to find a home that meets your needs and your lifestyle. 

So, what type of buyer are you? While everyone is different, there are a few buyer categories that almost everyone fits into …  

Savvy singles

Young and single defines your lifestyle. You’ve got a great job and your focus is on finding your way as you rack up all those life experiences. While you’re not looking to settle down, you are looking for a smart property that you can call home, and maybe use to make a little money in the future. 

What and where to buy

Lifestyle is a must, am I right? You’ll want to be within walking distance to the best cafes and restaurants, with entertainment options aplenty just around the corner. There’s no other place for you than the inner-city suburbs. 

Apartment life will likely meet your needs — either one bedder or a studio with a killer view. If you’re extra savvy, you could consider a two-bedroom and rent out the second room to a flatmate. You get some company and someone else to help you pay off your mortgage — it’s all about saving a little extra scratch for drinks with friends.  

Focus your search on up and coming areas that can offer a good deal now and a great investment for the future. Start your search in: 

  • Fortitude Valley, QLD
  • Surry Hills, NSW
  • Richmond, VIC

Career-focused couples

You and your partner are well on your way to achieving all your life goals. You’ve both settled into your career and your trajectory is steadily going up. While it’s not really time for kiddies, you are thinking of co-parenting an adorable rescue puppy. Apartment life is getting dull and you’re looking for a little extra space without sacrificing on proximity to work and weekend cuppas at your favourite cafe. 

What and where to buy

Trendy spots that offer a bit of peace and quiet are likely to suit your needs. Think the city fringe. There’s just enough hustle and bustle to provide a great night out, with the tranquillity of a backyard for quiet weekend BBQs.

A cute little cottage or two to three-bedroom home is a great way to add a little space indoors and out. You may not be thinking about kids now, but this does offer a little breathing room no matter what the future brings. It also allows you to get your DIY on if you feel like taking on a new project or two. 

Let’s face it, your disposable income means you can probably afford to live nearly anywhere you want. Start your search in hip residential areas such as:

  • Paddington, QLD
  • Bondi, NSW
  • Geelong, VIC

Families seeking space

You’ve settled into family life nicely. Life is less about the best restaurants and designer brands, and more about efficient schedules and the best schooling options for your little ones. You may still love your little starter home, but your growing family means you need more space for the kids to run and play. 

What and where to buy

Three bedrooms plus, with a double car garage and a big backyard sounds like just the ticket, doesn’t it? The suburbs will offer you the space you seek along with family-friendly neighbourhoods where your kids can make new friends. 

Not only will you be able to find a home that provides the room you need, but you’ll find it at a price that suits your wallet. You’re certainly not hurting for cash by any means, but with a family to look after, savvy money decisions are a top priority. 

Start your search at:

  • Morayfield, QLD
  • Albion Park, NSW
  • Cranbourne, VIC

Keen investors

You’ve found and bought your dream home, and now you’re on the hunt for the right investment. Building a nest egg that will see you well into retirement is a top priority as you prepare for your future. With some equity in your current home, you’d like to get a great deal on a property that promises strong capital gains.

What and where to buy

Finding the right investment property is all about following facts and figures. You’ll need to leave your emotions out of this purchase and find a versatile property that makes the most sense on paper. 

Apartments in areas with high rental demand is a promising prospect. You’ll want to look for areas with population and economic growth projected. With the right investment advisor, you may even be able to find a property in an up and coming area at a pretty decent price. 

The property market is continually changing, so it’s best to focus your search on areas that you’ve researched thoroughly. 

Empty nesters

Life is no longer about career demands, and your kids are off blazing their own trail. Now is the time to well and truly focus on yourself. You’re an empty nester and you’re looking to kick back and relax. While you’re not looking for a lot of space in your home, you do want the peace to enjoy your surroundings. 

What and where to buy

Perhaps now is the time for a sea change. Or should we say tree change? Either way, the tranquillity of a stunning vista seems like a must — be it blue ocean waters or pastoral rolling hills.

A small rural house may be a great option. Alternatively, an apartment or townhouse near the beach could be right up your alley. Something with just enough space for the two of you, without the fuss of empty bedrooms and multiple living spaces to keep clean. 

When looking for just the right fit for your post-retirement lifestyle, you may want to try looking at:

  • Bribie Island, QLD
  • Wentworth Falls, NSW
  • Woodend, VIC

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