With all that has been happening in real estate lately you might think that there is no market that is especially promising these days. But the truth is that the number of first time homebuyers and the mortgage amounts that they were getting approved for hardly wavered during the mortgage crisis of 2008 and the aftermath that ensued. This means that it's a good idea for developers marketing a new condo complex or a real estate agent trying to get their name on the map has lots of great reasons to target new homeowners. Here are some marketing tips that could help you get started.
When you're talking about first time homebuyers you are usually looking at people who have previously been renting an apartment or small house. While they have been saving for a down payment they will have likely given up some elements of their home, from space to location to luxury items. Giving them a little bit extra back at a bargain price has proved to be one of the best marketing tools that anyone wishing to attract new homebuyers has in their pocket. If you're featuring a new development of homes for sale you might want to highlight that you're offering a three bedroom for the price of two. Or, you could show off granite countertops in the kitchen or a living room fireplace.
Most new homeowners are going to be at a transitional stage in their lives as they are looking for a new home. They could have a baby on the way or have just gotten a promotion at work and can start to afford the finer things in life. The latter might be looking at condos downtown while the former is heading a little further out of the city. But location is going to be key for both parties. Find out what is great about the neighborhood where you're selling and use that as one of your key marketing tools. If you're situated in a suburban area it might be the feel of the neighborhood while in other places it's being close to transit options.
In terms of where to market you are going to want to focus on sources that cater to those in their late twenties into their thirties. Most people, no matter their age, are beginning to start their search for a home online. We are now even seeing real estate ads on Facebook and on sites for our favorite magazines. Many of these sites are able to cater their ads to specific areas, so you know that they're reaching the right people.
Here is an example of an ad a real estate company may use, (RLPGTA in this case), as a online ad used to target potential home buyers in Toronto.