Toronto Builder - Winter 2017 - 16
WHO ARE TODAY'S
HOME BUYERS, AND
WHAT DO THEY WANT?
BY DEBBIE COSIC
re you skimping on sustainable
Let's first look at each group's unique
design features? Still offering
characteristics and priorities for a new
"popcorn" ceilings as a stan-
home purchase. Then I'll outline a few
The move-up buyers tend to be people
dard feature? It may be time
of the design features and sustainability
in their thirties and forties. This group
trends that appeal to buyers across demo-
includes couples, young families and
mature families. They are professionals
to update your key buyer profiles.
Having the right buyer insights is critical
and technology. In suburban locations, they
look for a home that has parking.
to powering your business. It can help you
The first-time buyers are typically
with healthy savings and built-up equity.
position the right mix of products and ser-
Millennials in their twenties and thirties.
They are driven by location, value, size
vices for your customers.
They are singles or young couples, with or
and functionality of layout. Storage and
without children. They are educated and
parking count, too. Move-up buyers value
have good jobs, but their limited savings
good design and good quality in materials,
and have found that the GTA marketplace
mean that price point is an important con-
finishes and amenities.
consists of four distinct segments: first-time
sideration. They also want buyer incentives.
The downsizers or empty-nesters are
buyers, move-up buyers, the down-sizers
Millennials consider the usefulness of amen-
people in their fifties, sixties and seventies.
or empty-nesters, and the investors.
ities, and they are attracted to aesthetics
They may be professionals or retirees looking
At In2ition, we have been compiling customer demographics for the last few years
16 * Toronto Builder * Winter 2017