Felicity First-time Homebuyer Project Buyer Profile

While there is no one profile that will capture who will ultimately choose to buy a home in the subdivision proposed, there are certain characteristics that all buyers will share. All homebuyers will have steady annual incomes that enable them to pay their mortgage taxes and insurance. While some buyers may be retirees living on pension or investment proceeds, we expect that most homebuyers’ principal source of income will be from full-time employment. Additionally, while we expect that most homebuyers will be first-time homebuyers, some buyers may not. Our marketing strategy is focusing on young professionals such as educators, nurses, blue collar manufacturing workers and other young professionals that will make a commitment to live in the community, work in the community, rear and educate their children in the community, shop at the local stores and promote the quality of life this rural Ohio Valley location has to offer. While elderly households or households without children are certainly possible and welcome, we expect the typical household to look a lot like the following fictional scenario:

Steve has a good job at the Zimmer plant where he makes $50,000 a year. His wife Alice is a stay-at-home mom who is raising Ashley and Sam. They are from the Felicity-Franklin community and would like for Ashley and Sam to attend Felicity-Franklin (where they themselves went to school) they currently live in an apartment complex in Withamsville. While they tried to rent in Felicity, everything they looked at was in a poor state of upkeep / repair and very expensive given the poor condition and lack of amenities. Recently, Steve has been putting away a little money from each check so that the young family can buy a home of their own. Ashley would like to be close to her family and Steve would like to cut down on his commute time so he can spend more time with his children, however, they don’t see many options in Felicity-Franklin. They have looked at a couple of homes in the Township, but those homes are too expensive for the family. While there are very affordable homes in the Village, those homes are outdated and have none of the modern amenities. Additionally, Steve knows that a home purchase is one of the biggest purchases most families will make, and he is worried that poor tenants or landlords in the Village might undermine his investment. Accordingly, Steve and Ashley are looking at other communities.