Selling off the plan to first home buyers can be a smart strategy for developers, but it requires a tailored approach. With the right strategy, you can streamline the process for both you and your buyers while maximising the potential of your project. Here’s how to set your development up for success.
Understand the first home buyer market
First home buyers are usually looking for a way to enter the property market with minimal upfront costs. Off-the-plan sales appeal to them because of lower deposits, government grants, and the chance to secure a brand-new home. Understanding their needs and motivations is key to adjusting your marketing and sales strategy.
Highlight the benefits: A new property with incentives
First home buyers are often drawn to new properties for their modern features and quality. Many are also eligible for government incentives like the First Home Owner Grant (FHOG) and stamp duty exemptions. “Government incentives are a big draw for first home buyers. If you highlight the benefits and guide them through the process, they’ll feel more confident about purchasing,” says Ryan Houston, Presence Real Estate.
Make the process easy to navigate
First home buyers might not be familiar with the property buying process, so it’s important to simplify things. Provide clear, step-by-step information on how buying off the plan works, including financing options, potential costs, and expected timelines. Offering guidance throughout will help them feel more confident in their decisions.
Offer a showroom, virtual tours, and in-person inspections
While off-the-plan buyers can’t physically inspect the property before purchasing, providing detailed renderings, virtual tours, or a showroom display suite can help. A showroom is especially useful to demonstrate the quality of finishes and give buyers a feel for the space, helping to build trust.
Showcase the location and lifestyle
Location is just as important as the property itself. Highlight nearby amenities such as public transport, parks, schools, and shopping centres. First home buyers often look for convenience and long-term value, so make sure your development’s location is positioned as a highly desirable place to live. “Location is key. Areas close to schools, transport, and retail hubs are highly sought after and can drive up demand,” says Ryan.
Offer flexible payment options and support
Many first home buyers don’t have a large amount of capital upfront. Work with lenders to offer flexible payment plans or early access to finance, and consider partnering with a financial adviser to help guide them through the process.
