Sunday, February 16, 2025
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How Social Media and Influencers Can Help First Time Buyers

When it comes to saving for a first home, getting a mortgage, the buying process or even renovations and DIY, more first time buyers now turn to social media and influencers for information, notes Ginetta Vedrickas. Research by Tembo, a broker specialising in first time buyer mortgages, revealed some interesting statistics, including finding that 30% of those surveyed say social media like TikTok and Instagram is now their primary source of information on finances and investments, rising to one third, 33%, for 22 to 24-yearolds. Meanwhile 23% get information from family, 22% turn to financial advisers, with just 5% relying on books

Saving For Their Future

How first time buyers save for a deposit on their first home is changing too. Tembo’s research found that 16% of young people surveyed aged 22-24 plan to invest in NFTs (non-fungible tokens) or cryptocurrencies in the next five years, compared to 14% who plan to invest in an ISA and just 10% who plan on investing in a pension. The survey of 2,003 people aged 22-30, showed significant regional and gender differences when it comes to investing. Almost one fifth, 19%, of men plan to invest in NFTs or crypto, versus only 7% of women. When asked about the thing they fear most, 29% said it was “never owning their own home in the future” with even more, 36%, admitting that never having their own family was their biggest fear. Over half, 56%, believe it was easier for their parents’ generation to get on the property ladder, with 51% of respondents believing this is because their parents had better access to finance. Richard Dana, Tembo’s founder and CEO, explains, “It is

interesting to see how young people think about planning for their financial future, but it is sad to see so many of them fear they will never own their own home. With so much innovation in the mortgage market right now, however, young people may be able to make their homeowning dreams a reality in a way they may not currently realise.”

Generation Alpha Prefers Online Information

As digital takes over all our lives, even new housebuilders are using influencers to reach buyers, explains Caroline Coskry, whose new arm of her PR agency, Influenced by Oracle, aims to link housing developers with influencers. “Influencing and being influenced by something isn’t new, it’s just taking a different form through social media. Thirty years ago, we were mainly influenced by TV ads, the shift to social media is really to accommodate how consumers tap into news. Generation Alpha is growing up with social influencers all around them and, unless they tap out, it is here to stay.” Research by Forbes shows that more than 50 million people around the world now consider themselves to be influencers, responding to the demand from the younger generation who tend to shun traditional forms of media such as newspapers, preferring instead to get information online. Coskry has noticed that housebuilding as a sector has been relatively slow to showcase its homes online. Instagram’s inspirational appeal initially attracted fashion and travel influencers, but this is changing. “Interest in home and lifestyle content has grown considerably, especially since the boom of self-renovators during 2020. Buying a home is very different from buying an item of clothing or a piece of furniture. People aren’t reading newspapers as much on their commute or taking in advertising as much as they used to, especially with the newest wave of first time buyers. Consumer behaviour has changed, with many people looking at social media for news, advice and inspiration.”

Influencers To Guide You in The Buying Process

The internet is awash with influencers advising on property, but navigating your way to find the ones with the best advice can be challenging. Charlie Lamdin helps many first time buyers navigate the marketplace via his website, Instagram page and YouTube channel Moving Home with Charlie. As a long-time champion of the moving industry, Lamdin is keen for FTBs not to fall into the over-pricing trap and he has plenty of advice for removing emotion from the buying process while not paying over the odds. Lamdin is keen to share his wisdom after over 22 years of working with estate agents. Practical information includes a template that shows how to make an offer for a property via email rather than by phone, which, so far, 17,000 first time buyers have used. “Remember that sellers are seeking certainty as well as price. The best of your offer is to make your most compelling, credible and attractive offer over and above the financial amount itself. You want to show seriousness, preparedness and above all proceed ability. The email is to make sure agents see that you aren’t messing around, and you know your stuff!”

Lamdin set up his website after finding “a dearth of any site giving an honest opinion of the housing market” and he offers this advice, “Facebook groups can be very helpful for hearing about other buyers’ experiences and can be eye-opening in knowing what to look out for. For example, there are groups dedicated to first time buyers, buying a new build and even buying via shared ownership. These are great places for posting your questions and for learning through others’ mistakes or misfortunes, such as being trapped into poor quality builds and leasehold flats that you struggle to re-sell, as well as reading about positive experiences and advice such as how to choose the best plot or why you should avoid choosing online conveyancers.” Rather than trawling the internet, he advises first timers to spend more time viewing potential properties, “It’s only by seeing properties that you build up a knowledge of different areas and get to know if a property represents good value for money or has potential issues.”

Influencers To Help You Renovate

Christopher Jones and Paloma Quinn Mills currently have over 4,000 followers watching them renovate their 1887 Victorian terrace “one DIY at a time, send help!” at their Instagram page restoringnumberfour. Practical advice focuses on diverse topics such as restoring original floorboards, insulation and even cleaning the roof. The first time renovators also show how they get their information, including speaking to experts at a Homebuilding & Renovating show (homebuildingshow.co.uk), with details on how to get free tickets.

Content Creators

Most larger housebuilders have an online presence and use influencers or “ambassadors” to help reach their buying audience. Lexie Carducci offers plenty of property advice via her Instagram @lexiecarducci and she creates content for developers and estate agents including property and development tours, area guides, interviews with local people and businesses as well as case studies of residents. “Last year I created 12 videos of local businesses for Peabody New Homes, highlighting the area of Loughborough Junction where its new development Higgs Yard is located. Then two weekends ago I headed to Barking Riverside for the #EmergeEast festival to showcase the exciting new neighbourhood in east London and just this weekend I popped in to The Hill Group’s 17th floor show home at Kew Bridge Rise in west London following up a marketing campaign I worked with them on in the summer, spending days out in the beautiful local areas of Chiswick, Kew and Richmond.” Carducci interviewed winners at the First Time Buyer Readers’ Awards 2024 and will soon launch phase two of The Ariel in the Television Centre at White City. Having worked in property for 13 years, she spent lockdown creating videos around her work as a property finder; she’s helped over 700 people find homes to buy or rent, giving tips on areas, process, budgeting, preparation, timeframes etc as well as her own property projects. “From that I began to grow a following of particularly first time buyers and those looking to understand the buying or renting process more.” Carducci’s biggest warning is to “not rush and not feel like you’re being rushed. Accept that homes come and go and, if something doesn’t feel right, it probably isn’t right, and if something doesn’t work out it probably wasn’t meant to! Buying a home is a huge, exciting step in life which is sadly still consistently labelled the third most stressful life event, after death and divorce, so try to remember to enjoy it!”

First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.

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