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

Weekend Gold Coast Bulletin - Property - - FRONT PAGE -

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.

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