22 July 2018

Demand For Downsizing: An Opportunity To Sell Your Home

Posted by: IanWatson

When you are selling your home, it is important to be aware of who the most likely buyers are. This is an area that Mitchells Estate Agents specialises in and if you want to be confident that your home is being presented to the right type of buyer, choose a local estate agent with a knowledge of the local market. It is correct to say that the property market has evolved considerably in recent years, and these changes may mean that there is a different type of buyer looking to purchase your property.

A recent study in the UK suggests that there are over 1.4 million homeowners in the country who are aged 65 years or older, who are considering selling their home in the next five years. There are many reasons why people of retirement age are looking to sell their home and move to a smaller property, and this may mean that there are different buyers looking for your home.

Not every potential buyer will be like you when you bought the property

It is natural for homeowners to think that the buyer of their home will be in a similar position to them when they purchased their property. If you are selling your first or second home, it is likely to be a modest property, ideal for people making their way onto the property ladder or looking to build a family.

However, this style of home is also ideal for many couples who are looking to downsize. There may be many years between first-timer buyers and last-time buyers, but the size of home and location of these properties often appeal to both groups. If you have been focusing on first-time buyers when presenting your property, is it possible you are overlooking a sizable demographic of people who hold a genuine interest in your property?

Buyers of a pensionable age are on the rise in the UK

With people living for longer, people of retirement age and above is a growing market in the UK, and it is vital that people are aware of this group when selling your home. People who can sell their family home may have more funds to play with than a first-time buyer who has struggled to obtain a mortgage, so this could be the buyer that will make for the smoothest transition. Every deal and every potential buyer needs to be evaluated but there are reasons why selling your home to someone, or a couple, who are downsizing makes sense.

At Mitchells Estate Agents, we believe that presenting and promoting to the likeliest buyers is essential when selling your home. We understand that there are many groups looking for the same home, and it may be that your property is exactly what people of retirement age are looking for. Therefore, we will review your home and consider the likely buyers in the area, and then present your property in the most effective manner.Contact us for the best support and guidance in finding the right buyer and selling your home.

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