The changing needs of Bundy first home buyers
BUNDABERG first home buyers are reprioritising what matters most when searching for their ideal home.
Buying a house is becoming more about the big features for less money, according to Scott Mackey, the owner of Remax Precision.
"Like any buyer, we all want the most amount of features for the least amount of dollars,” Mr Mackey said.
"First home buyers are looking for more features around entertainment especially outdoor areas for house parties, TV and music options.”
The information comes after research, commissioned by Westpac, demonstrated first home buyers were less focused on buying a home in an area that was trendy or close to work, with both significantly decreasing in the ranking of "essential features” by 83 per cent and 48 per cent compared to 2016.
Westpac's 2017 Home Ownership Report also revealed a quiet neighbourhood, access to public transport and safety were features that have also become less important during the decision-making process.
Mr Mackey said in Bundaberg specifically, huge draw-cards for first home buyers included extra room for housemates and somewhere to put the big-screen TV.
"Buyer trends have changed with the advancement of technology,” he said.
"First home buyers have no real interest in formal dining areas and priority is for a cinema rather than a formal lounge.
"Another option is the design of the house to best accommodate flatmates to share the cost of living, with some smart first home buyers having rent they receive covering their mortgage,” he said.
Mr Mackey said the market in Bundaberg currently offered a range of houses from very affordable to luxury.
"The highest residential we currently have listed is $2 million and the lowest is a two-bedroom home with a sleep-out in Norville for $169,000,” he said.
"It all just depends on the condition of the home and how much buyers are wanting to spend in regards to what their requirements are.”
"First home buyers are very fortunate here to have such a low entry point to the property market to get out of the rental cycle.”
And for those looking to jump into the housing market, Mr Mackey said he had one bit of advice.
"Buy on value, not just presentation,” he said.