Home and Real Estate News

How Staying Home Changed Us

What does “home” mean to you? For many of us, the answer to that question changed dramatically over the past year. When the world stopped, our homes became the center of our universe in a way they never had before. Seemingly overnight, we had to figure out how to make all the parts of our life, work, school, working out, socializing—fit inside our homes.

It wasn’t easy, but we did it. And, in the process, many of us realized that our new at-home normal was a better fit for who we are and how we want to live—not just now, but for the long-term. Based on recent home-related surveys of real estate agents, builders, recent buyers, and future buyers, several housing trends that emerged during the pandemic are expected to shape our vision of home for the foreseeable future.

HOW STAYING AT HOME CHANGED US

Spending 24/7 at home had a profound effect on how we use and view our living spaces. Here’s a quick look at four big ways the stay-at-home life changed how and where we live and transformed the future of real estate.

We’re on the move: More than one-in-five adults in the United States either moved for pandemic-related reasons or know someone who did, according to this survey from the Pew Research Center. The combination of remote work and school, low-interest rates, and a cabin fever-inspired longing for more space helped ignite red-hot real estate markets in small and midsize cities, suburbs, and rural areas. This trend is expected to continue, reports the inaugural Wall Street Journal/Realtor.com Emerging Housing Markets Index, which ranked Coeur d’Alene, Idaho; Austin, Texas; and Springfield, Ohio as the top three real estate markets of 2021.

We’re adapting spaces: With some 70 percent of us working from home (up from 20 percent before the pandemic), we channeled our inner interior design to accommodate remote work andschool.Hallways doubled as classrooms. Mudroom makeovers created home offices and gym. Overlooked nooks became craft and computer stations.

Flexible live-work-play spaces promise to be a continuing trend for homeowners and buyers in future homes since 54 percent of people are expected to continue working from home post-pandemic, according to Pew Research. In addition, many Americans could likely use an addition (or an attic, basement, or garage conversion) with more people living under one roof than ever before in recorded history. Welcoming more—and often a multigenerational mix—home has helped spark increased demand for separate living areas for aging parents or an adult child, say the homebuilders surveyed for Emerging Trends in Real Estate® 2021, produced by PwC and the Urban Land Institute.

We’re living more sustainably (or want to be): Realities of pandemic life—such as driving less, craving outdoor space more, and a heightened awareness of the importance of good hygiene—helped shine a spotlight on protecting our health and the health of the planet.

Green space will continue to be a big draw for future homebuyers, reports the CENTURY 21® survey. Of all home features that became more important to people during the pandemic, having a large yard or other outdoor area (like a garden or lawn) remains a top priority for a whopping 92 percent of the future buyers polled in A Glimpse into the Future of Home.

We’re big on bathrooms: Whether it’s the increased focus on self-care or because the bathroom became a personal escape for many pandemic parents, spa-like bathrooms are now high on the wish lists of future homebuyers. Fifty-two percent of future homebuyers surveyed by CENTURY 21® named high-end bathroom amenities as their most sought-after indoor amenity compared to only 37 percent of recent homebuyers.

When you are ready to buy, sell, rent or even relocate, we can help you. Call us at 352-686-0000.

Source: https://www.nationalgeographic.com/future-of-home/stories/

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