Who is the typical Condo Buyer?

Question

I want to find know who is target market for a Condo Buyer? What are their characteristics?

Answer 1

why would any one want to buy an apartment in a building or a townhouse
then they call it a condo
it is unbelievable what people will buy when you put a new name on it
i have never understood the concept of a condo vs apartment

Answer 2

The best source of a condo buyer is a condo renter.

I know several investors who solicit all the occupants in a building for sale to determine how many of them would buy an individual unit rather than rent. If partnered with a mortgage lender a very creative package can be worked out that makes renting seem almost ridiculous. Once they have enough interested tenants they submit their offer to the building owner. Some of these are complete condo re-conversions.

Here is some additional info. Hope this helps.

Answer 3

there are many completely different reasons and therefore characteristics of Condominium buyers and owners.

Often time the bylaws of the development creates a guidance for the typical buyer for that development. As many buildings will have a set of bylaws that cater to an age group, (adults only, 55 and over etc) or they may have bylaws preventing or restricting rentals, pets, kids, etc etc.

This obviously creates its own set of benefits to those that are seeking that type of lifestyle.

then you have the developments that are designed and built to attract a certain type of buyer, for example the Loft / retro type look and feel, which seems to attract the younger to middle aged professionals.

Then there are developments where the average suite size is smaller than what would work for famlies, and by such attract more singles or starting couples.

Then off course there are the developments that are all about ego, and or high end services, like fitness clubs, lounges, and concierce services, which will in therefore attract its own type of buyer.

Then there is the type of development that caters to first time buyers, as a sort of stepping stone into the real estate market, and so on and on.

So to say that there is a typical Condominium Buyer, would be saying that there is a typical small car buyer, or a typical TV buyer.

If you are trying to sell a suite, and are trying to market to your future buyer, be sure to market to the largest possible market as it does not matter to you who is the buyer, as long as the buyer and his her lifestyle matches their expectations.

If you are trying to buy a suite, find a suite and complex that fits your lifestyle and requirements, and has the fewest possible restrictions.

The reason I state the fewest possible restrictions, is that for most people a Condominium is suitable as a interim home, in their journey of life. So when time comes to resell the property, you want to be able to sell to the largest possible buyer population. Because markets change, you will never know where the market and therfore buyers will be when time comes to sell. It is my premise that you can pre-determine your resell success when you buy the property, if everything else is the same a suite in a complex with fewer restrictions, will always sell faster and likely for more money than suites with a whole bunch of restrictions limiting the number of potential buyers.

I hope this assists you, Good Luck

Answer 4

Condo buyers are usually young people who are looking into an investment for their first time. Young families who can not afford a house. It is pretty simple.
I bought a 2 family house and just turn the 2 - 2 bedroom apartments into 2 townhouse style condo's...
I have 2 brothers looking at it and a young woman...
good luck

Answer 5

the typical condo buyer is a retired couple, someone (probably a female who does not have to worry about the grass and snow
or a retired gentleman who cannot deal with the outside work

Answer 6

Singles and young families, those who don't want or can't afford a house. Professionals, elderly and gay couples, basically anyone who does not have young children and wants to live in the city.

Answer 7

women