What home suits me?
As you move through life, your needs and desires change. And it’s the same with properties — your property needs and desires will change along with your age
JUST how do your property needs change as you move through life?
Young adults and property owners tend to be the most mobile.
People aged in their 20s and early 30s move more because they are transitioning in and out of education, employment and relationships.
They have greater flexibility because they don’t have the added baggage that comes with age.
The Australian Bureau of Statistics says young households without children will move on average several times every five years.
At this life stage, buyers are looking for properties close to work, close to the party and close to friends. Price at this point is normally the main consideration. Inner-city apartment living is very common in this age group.
Most people tend to buy their first property when they enter a long-term relationship and are starting a family.
Young families desire homes with a minimum of three bedrooms, open floor plans, nice kitchens, outdoor space and a private space for mum and dad.
Other key factors are being close to good schools, shopping centres, sporting clubs and family entertainment.
With this kind of wish list, young families are often pushed to the city fringe to achieve their desires. If you drive around Coomera, Pacific Pines and Pimpama, you will see it is filled with young parents. Young families become increasingly less mobile as their children get older.
This is because once their children are teenagers, are in a good school and have built up a network of good friends, the parents increasingly become reluctant to disrupt them.
My advice is to settle on the right home before your children reach high school.
Then there is the empty nest phase — the kids have finally left home and its time to enjoy life with a smaller home with less maintenance.
Nice kitchens and a view are important for these buyers. At this stage, price is a less important consideration. Regardless of your stage of life and the type of property you are buying, most of the time you will not be moving that far.