Who are you investing in?
As investment property owners in 2013, whose lifestyle decisions are you actually investing in?
Sure… these investments are bound to be creating a better, more financially acceptable future for you, but it’s worth thinking a little more broadly.
Who will be renting your investment property or properties… this year, next year, the one after, and so on?
Will it be ageing baby boomers?
Now in the vicinity of early fifties to mid seventies in age, what sort of homes do these baby boomers want to live in? As tenants, what are they looking for?
Fewer of them are staying in the family home until they are forced to move due to ill health or inability to care for themselves, like their own parents may have been. Many are looking to sell up the family home while they are still in good health, and rent - or buy - low maintenance properties that provide good security and a very convenient lifestyle close to shops, transport and leisure pursuits.
Born between 1979 and 1998, Generation Y make up the bulk of the rental market in Australia because many haven’t yet settled into family home ownership, are more mobile with their careers and are more flexible in their living arrangements.
Generation X, in their mid thirties to very early fifties, is a mix of renters, owners and investors. Many Gen X’s continue their quest for lifestyle housing in the inner city, inner city fringe and ‘trendy village’ suburbs.
We are aware of and understand tenant demographics and your property’s attraction to different age groups. This is particularly important, because the better the ‘fit’ with your tenant, the more likely you are to enjoy a long-term relationship.