Categories of Home Buyers

Question 1

4 most common segments of home buyers? (FREM)

Answer 1

1.) First time buyers
2.) Move-up buyers
3.) Empty nesters
4.) Retirees

Question 2

First time buyers?

Answer 2

• Lower income, may be supported by family members
• More likely to choose smaller attached detached homes that need work

Question 3

Move-up buyers?

Answer 3

• Generally families looking for a larger, detached home in suburbs
• Will have money available from their last home sale

Question 4

Empty nesters?

Answer 4

• Buyers who want a smaller home as kids have left, may want the property to suit older age
• Often have significant funds if they are downsizing

Question 5

Retirees?

Answer 5

• Often want a house suitable to grow old in, generally have significant funds
• Mindful of their pension & don’t like to be pressures, kids may be involved