First-time buyers are confused and nervous – here’s how to fix it

The housing market is in a state of flux, creating a bewildering environment for first-time buyers. With a general election still a month away, uncertainty seems to be the prevailing sentiment. While prices dropped in April, May saw an 0.4% increase according to Nationwide. This uncertainty, coupled with historically high interest rates and a cost-of-living crisis, has made it a daunting time for nervous first-time buyers to enter the market.

How content can help ease concerns

In these challenging times, high quality content can serve as a beacon of guidance and reassurance for first-time buyers. Developers have a unique opportunity to educate and support potential buyers by providing clear, accurate, and accessible information. So, let’s explore the challenges faced by first-time buyers, and discuss how content can play a crucial role in alleviating fears and guiding buyers through this complex process.

Key concerns for first-time buyers

Interest rates have reached levels not seen since the early 2000s, with the Bank of England’s base rate currently standing at 5.25%. This double whammy of a spike in rates and increased living costs thanks to high inflation, has made it increasingly difficult for first-time buyers to save for deposits and afford monthly repayments.

Many potential buyers who do have the savings are hesitant to commit due to the economic uncertainty – what happens if rates don’t drop, or property prices fall? What are the incoming government’s policies on stamp duty? If I don’t buy, how much will I waste on rent?

How content can reassure

Content that addresses common concerns such as affordability, mortgage options, and the buying process can help demystify the market for first-time buyers. For instance, articles that explain how to secure a mortgage, calculate affordability, and understand market trends can empower buyers with the knowledge they need to make informed decisions.

With many developers now offering support with deposits or mortgage payments, there’s also the opportunity to help prospective buyers understand your unique scheme with long-form content – information that’s hard to get across in a programmatic banner or short-form social post.

Creating a sense of trust

Quality content also helps build trust between developers and potential buyers. By offering transparent and reliable information, developers can establish themselves as credible sources, making buyers feel more confident and secure in their choices. Buying your first home is likely to be the biggest financial decision you’ve made – being a guiding light at this time is a powerful piece of branding, and when it comes to a quick google later, means you’ll be front of mind.

Distributing long-form content

To maximise the reach and impact of your content, consider using a mix of owned and paid channels, for example, articles on your website and sponsored content in the publisher environment. Engaging with audiences on credible editorial sites can also help build trust in your brand.

Here’s 5 ways you can use content to ease the concerns of buyers right now:

1. Create comprehensive guides

Invest in creating comprehensive guides that cover every aspect of the home-buying process. This could include step-by-step instructions on how to apply for a mortgage, what to expect during the property search, and how to handle the closing process.

2. Use visual content

Visual content such as infographics, videos, and virtual tours can be incredibly effective in conveying complex information in an easy-to-understand format. For example, a video walkthrough of a property can help buyers visualise themselves living in the space, while an infographic can simplify the steps involved in obtaining a mortgage.

3. Provide regular market & policy updates

Keeping buyers informed about the latest market trends and changes in policy can help them feel more in control of their decision-making process. Regular updates on market conditions, interest rate changes, and economic forecasts can help buyers stay informed and make timely decisions.

4. Highlight success stories

Sharing success stories of other first-time buyers who have navigated the market successfully can provide inspiration and encouragement to potential buyers. Testimonials and case studies can show that buying a home is achievable, even in challenging times.

5. Offer tailored advice

Personalised advice tailored to the individual needs and circumstances of buyers can be incredibly valuable. Create content that addresses specific buyer profiles, such as first-time buyers, in addition to young professionals, downsizers, or families.

We’ve over a decade’s experience creating and distributing successful long-form property campaigns. To discuss how we can help you – contact us today!