COVID-19 has left an indelible mark on how people buy and sell real estate. In-home amenities, such as home offices and gyms, have become more important to the average home buyer. Due to lockdowns, the virus has caused a migration from highly populated urban areas to more rural and suburban areas. Virtual, contactless showings have become commonplace. As we enter 2021, it will be interesting to see how the virus will continue to shape real estate.
What do Buyers Want Now?
POOL HOMES: The pandemic created a high demand for private pools. Pool companies have a 6-9 month wait time creating a high demand for existing pool homes.
HOME OFFICE: As more companies move to work-from-home options, home office space has become a must-have. The kitchen table is just not cutting it.
MORE SPACE: Households have moved from more crowded urban areas to suburbs. Demand for more outdoor space, larger homes, and larger lot sizes have increased.
CLOSE TO FAMILY: Family support has become more important during the pandemic. Families are moving closer to loved ones. As less people opt for nursing homes, multi-generational homes are rising in popularity.
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