One of the foundations of successful investing is to make sure the property that you’re buying matches the demographics of the location and its amenities. Buying a one bedroom apartment in East Maitland – a place ideal for families, may not be the best option as your rental market will be looking for space. Looking for a four bedroom family home in an inner city area that is mainly high density housing may also reduce your rental market.
Here are some examples of what each demographic is typically looking for, but hold on, we will be making many generalisations and assumptions – but these are the trends, and we understand that there will always be exceptions.

Young Professionals
This demographic typically likes to live close to the city or an easy commute to a work hub. They’re looking for lifestyle – nightlife, cafes, restaurants, bars, easy shopping options, health and fitness options – parks, gyms, beaches, fitness or sports centres.
Apartment living suits young professionals perfectly as they tend to spend their downtime either working, relaxing or having fun without the stress of house or yard upkeep.
An inner city location that has undergone gentrification is often ideal.

 

Families
They’re typically looking for space and amenities. Villas, townhouses, houses located close to schools, parks, shopping centres, medical facilities are ideal. They usually have to look in the suburbs or in regional areas to get the space at an affordable price.
Close to public transport or good connections to arterial roads are helpful for parents to commute to work.
A new estate in a regional hub is ideal.

 

Empty nesters
Empty nesters are a little harder to generalise as it often depends on their family situation and lifestyle aspirations, but ease of living is often the primary goal.
Typically they’re looking for smaller homes in a location where they feel it’s a safe, easy walk or short drive to the shops and their preferred lifestyle activities.
City, suburban or regional hubs – houses or apartments – are all suitable to this demographic – as long as it has ease of living.

 

A perfect example of matching the property to the demographics of a location and its amenities is a property we’re currently promoting in Elsternwick, just 11km from Melbourne CBD. It’s easy living, close to the city and well connected to transport, surrounded by bars, cafes, restaurants and shops. There’s a gym across the street, sporting fields close by. It would be perfect for young professionals or empty nesters to call home – so your rental pool would be large. Click here for more details

Similarly, we have a property in Gosford that is 500m from the train station offering an easy commute to Sydney, yet after work and on the weekend it’s all about lifestyle. It’s just 2 blocks from waterways and close to the National Park and all that the Central Coast has to offer. Again, it’s perfect for young professionals or empty nesters whose prime focus is lifestyle. Click here for more details

Let me know if you’d like to chat about your investing plans.