Renovating with Purpose: How to Meet the Market and Appeal to Your Target Demographic

Renovating for the market requires careful consideration of the target demographic group. Here are some ways to renovate for different demographic groups:

1.     Young professionals: Young professionals are typically looking for properties with modern, stylish designs and a low-maintenance lifestyle. Renovations should focus on creating an open-plan living area, a functional kitchen with modern appliances, and a sleek bathroom. Consider adding a home office or study nook and smart home technology to appeal to this group. This group will often have a fur baby so include a small grassy space outside.

2.     Single women: Single women are often looking for properties that are safe, secure, and low maintenance. Renovations should focus on creating a cozy and welcoming living area, a modern kitchen with high-quality appliances, and a luxurious bathroom with ample storage space. Consider adding features such as a walk-in wardrobe or a private outdoor area to appeal to this group.

3.     Families with young kids: Families with young children require practical and functional spaces that can withstand wear and tear. Renovations should focus on creating an open-plan living and dining area, a spacious kitchen with plenty of storage, and a family-friendly bathroom with a bathtub. Outdoor spaces such as a deck or backyard can also be a selling point for families.

4.     Families with teenagers: Families with teenagers require separate spaces for privacy and entertainment. Renovations should focus on creating a large open-plan living area, a functional kitchen with plenty of storage, and multiple bathrooms to accommodate everyone's needs. Consider adding a separate living space or a media room for teenagers to hang out with their friends, and outdoor entertainment areas such as a pool or deck for family gatherings.

5.     Downsizers: Downsizers are typically looking for properties that are low maintenance and have a focus on convenience and accessibility. Renovations should focus on creating an easy-to-use kitchen with high-quality appliances, a spacious bathroom with a walk-in shower, and a master bedroom with plenty of storage space. Consider adding features such as a lift or ramp for accessibility.

6.     First-time buyers: First-time buyers are typically looking for properties that are affordable, low maintenance, and move-in ready. Renovations should focus on creating a bright and airy living area, a functional kitchen with modern appliances, and a stylish bathroom. Consider adding features such as built-in storage to maximize space.

7.     Luxury buyers: Luxury buyers are looking for high-end finishes, spacious living areas, and unique features. Renovations should focus on creating a luxurious kitchen with high-end appliances and finishes, a spa-like bathroom with a soaking tub and walk-in shower, and a spacious master bedroom with a walk-in closet. Consider adding features such as a home theater, wine cellar, or rooftop terrace to appeal to this group.

8.     Older women over 55: Older women over 55 are often looking for properties that are low maintenance, easily accessible, and have a sense of community. Renovations should focus on creating a comfortable and accessible living area, a functional kitchen with easy-to-use appliances, and a bathroom with safety features such as grab bars and non-slip surfaces. Consider adding features such as a low-maintenance garden or a community space to appeal to this group. Additionally, wider doorways, ramps, and other accessibility features may be beneficial.

9.     Multigenerational families: Multigenerational families require properties that can accommodate different generations living together. Renovations should focus on creating separate living spaces, such as a self-contained granny flat or a converted garage, that can provide privacy for each generation. Kitchens with multiple ovens or stoves and plenty of storage space are a must, and multiple bathrooms are essential. Consider adding features such as a backyard or outdoor area that can be used for family gatherings or play spaces.