Life changes drastically thoughout each stage and as does one's needs and desires for a home. Here is how your priorities and property path can shift as your family grows and changes.
The Young and Single
Data from realestate.com.au shows that 67% of those who are married or in a de facto relationship are looking to buy a house. A huge difference in comparison to only 26% of their singles.
Children Change Everything
According to the same survey, of the 3.7 million people in the property market, those expecting a child or planning to marry are two times more likely to be looking to buy a home in the next 12 months.
Those expecting a second or subsequent child are three times more likely to buy a home larger than their current one in the next 12 months, according to the realestate.com.au survey.
The data showed a dramatic shift in property needs from child number one to two, with 47% of those looking to upsize their home in the next 12 months having a household size of four or more persons.
Of course, once the children move out all the extra space takes a lower place on the list of priorities. Downsizing
begins to take its place on its radar as location, lifestyle and financial benefits all meet the needs and wants of retirees.