Knowing what kind of buyer you are may give you an advantage in the market. It will help you get inside the head of real estate agents, who often help clients market their property to these categories of buyers. Naturally it also helps to understand your top priorities when searching for a home in Greece.
Alternatively, if you are selling your home in Greece, knowing these buyer categories will help you market your property to the right audience.
Primary Home Buyers
This is the average home buyer who is in the market to buy a primary residence. This category usually has access to finance or have enough cash saved up to purchase a property. Naturally, one of the biggest priorities for this kind of buyer is the price of a property. Secondarily, they think about proximity to place of work, schools, medical offices, and basic services, since the home will be their primary place of residence.
Downsizers
This group falls into the “primary home buyers” category. They want to move from a larger property to a smaller one. In some cases, this group includes retirees or locals who do not need a large family home anymore and need somewhere that requires less maintenance. Downsizers are usually from 50 to 75 years old. Generally, downsizers prefer convenience, a quiet location, privacy, convenience of travel, and proximity to medical care.
Second Home Buyers
Second home buyers have their primary home in another city or country. They spend a majority of their time in the primary home, and the second home is usually located in a holiday destination — somewhere to spend quality time with their family or escape from day to day life.
The buyer may want to make passive income by renting the second home, or they might want it as a long-term investment. After many years, they can sell the second home for a profit, or they can pass it on to a relative.
Buy-to-Let Investors
Some buyers invest in property so that they can generate revenue. They may not even spend time there, but expect the property to bring them revenue while it appreciates over the long term. These homes are usually compact and have 3 bedrooms.
This buyer wants a secure investment for the long-term that does not need a lot of maintenance. One other priority is that the property should not require renovations and should be ready to rent immediately in order to earn income.
Sometimes buy-to-let investors are looking for bigger homes or off-plan homes that can be marketed to wealthier tenants.
Retirement Planners
Retirement planners include those who are planning to retire or have already retired, and usually have specific needs for a property. They may like specific areas because of the relaxed lifestyle and because there is a lower cost of living.
Usually, retirement planners prefer low maintenance properties in a bungalow style (only one floor). Retirement planners also prefer a quiet, easily accessible location with privacy and at least one bedroom on the ground floor. Medical facilities and a gardening space are also a priority. Retirement planners value security and look for homes with proximity to shops, cafes, and transport options.
Next Steps for Buyers
Pick out of these categories which you fall into. The next part is the fun part: picking which area of Greece you want to buy your home. You can even take the next step and come for a visit.
Next Steps for Sellers
Pick which of these categories your property appeals to. Keep the possible buyer’s likes and dislikes in mind when you start to market it, photograph it, and promote it online. For a complete guide to selling your home in Greece, read more here.
