Buyers Agent reports trend towards “Real Homes”

As a Buyers Agent, my role is to help Home Buyers through a myriad of questions and then ultimately help them secure the right property for their needs.

A recent trend we are seeing at My Property Buyer is our clients enquiring about existing or “real” homes as opposed to land and builds or buying off the plan. One of the reasons behind this trend is the convenience of not having to wait for their home to be built and another is the ability for them to touch and feel the potential property prior to signing paperwork. With unfortunate stories of builder’s going under and some developments running way behind in time, it seems many buyers are becoming more cautious and opting for a “better the devil you know” attitude.

Interestingly, this is even true for some First Home Buyers, despite the lure of $15,000 (in Adelaide) for the First Home Buyers Grant should they purchase a brand new home, purchase land and build or buy a property off the plan. Wanting it now is the main reason for this but also the pricing of existing homes is presenting to some as better value than buying brand new.

Government policies to scrap First Home Owner Grant availability on existing homes and to restrict residential Property Investors depreciation claims on plant and equipment to new homes and builds only, has seen properties only a few years old slipping through the cracks in many buyers considerations. However, these properties can have items still under warranty and they’re often located in popular infill areas with convenient access to schools, parks, shops, transport and health services, which are all factors taken into account when clients are weighing up their purchase options.

At My Property Buyer we present the case for all types of dwellings to our clients and ultimately they choose the direction that best works for them. We then work with their Mortgage Broker or Lender to confirm their budget, which then allows us to hone in on locations they can afford.

It will be interesting to see how this trend unfolds into 2020, but for now it appears that “real houses” are the current flavour in Adelaide.