With so many of us spending more time in our homes than ever before, it’s likely that we’ll see a shift in what homebuyers will be looking for in the post-COVID-19 era. Being quarantined for weeks in our respective places of shelter has caused many of us to change the way we feel about our homes – maybe we’ve developed a new appreciation for our current spaces, or maybe we’ve come to the conclusion that our home no longer works for our current lifestyle and needs.
As we move toward a new way of life, there’s no doubt we’ll be seeing changes in the kinds of properties, features, and even locations that people look for. Here are a few trends to watch out for:
The Home Office
For many of us without a dedicated home office space, the dining room table has quickly turned into the home office, the conference room, and even the home-schooling classroom. With more people working from home for the first time ever, we can most definitely expect to see an increase in the number of buyers who are putting the home office space on their wish list.
Less Dense Living & More Outdoor Space
After experiencing the effects of a pandemic so close to home, people may opt for a single-family home over a condo, townhome, or other multi-family arrangements. In times like this, people might not like having to access their homes through a common area, like a lobby or elevator.
And when it comes to outdoor space, having your own yard, patio, or porch is a prized possession in a time like this – no matter how big or small. For people who are sharing common outdoor spaces, having their own, private place to spend time outdoors may be a welcome change.
Spending so much time at home with limited ability to travel means the need for more spaces at home for fun and relaxation. People may be less likely to question the necessity of things like a home theater, pool, or exercise room.
We can expect to see a resurgence in the demand for properties with outdoor spaces that feature amenities like outdoor kitchens, bars, pools, or water access.
This experience may drive some people to relocate altogether, or to finally buy that second home. Since flexible work arrangements will likely become the norm for many, maybe proximity to the office isn’t a priority anymore. For a smaller part of the population, we may see an increased interest in unique properties like tiny homes or “bug out” shelters. Even vacant land may see a resurgence in interest.
As an agent, now is a great time to hone in on where people in your area like to go on vacation or buy second homes. Stay informed on the options and the market in those areas. Consider establishing referral relationships with agents in those markets, or, if it makes sense, consider expanding your services so you can sell in those areas.
Finally, it may be a good idea to focus on building relationships with contractors that can enhance existing homes. You can become a valuable resource to clients who may be interested in upgrading their existing spaces, or to a client who may decide to sell and buy something that needs work.
As an agent, getting up to speed on these trends can help solidify you as a resource for everyone you serve, whether they are buyers, sellers, or past clients.
Here are some additional related articles on how COVID-19 may influence future homebuyers priorities:
What Americans Love – and Hate – About Their Homes During Coronavirus
How the Coronavirus Is Reshaping Home Design: 10 Crucial Features a House Should Have Today
8 New Things That Will Take Priority When Shopping for a Home