Once the COVID-19 risk and scare have diminished, as homebuyers search for their next home, their priorities are going to be different. Even after this challenging time has subsided, we'll be living with the effects for a long time. After the required shelter in place, our desires, needs, and priorities have changed significantly.
Anyone that is going to be house searching once the world has returned to normal will see their future homes differently. What didn't seem to be essential before has become the forefront of our way of thinking, and the conveniences of multifamily living may be more of an inconvenience?
The Following Eight Features Will be Predominant in Future Home Searches:
1. More Light, More Space
After spending three months at home, city dwellers are going to be looking for what they didn't have during the quarantine. They will have a new appreciation for the sun and space. Those who's studio apartment was their sole destination, are going to seek a larger upgrade for home. The Post Pandemic Period will have homebuyers looking for airy homes that are light-filled and offer a view that is more than an alley or sidewalk.
2. Easy, Fun Cooking Space
Many of us that used our stove to store sweaters (i.e., Carrie from Sex in the City) have learned over the past three months of isolation that the kitchen had more to offer, and we had fun with it! Once again, the heart of the home will be the kitchen, and homebuyers are going to want them fully loaded and roomy. A large pantry, lots of cabinets, and counter space are going to be on the top of their want list. They are going to want appliances that are easy to use and energy-efficient. Extra storage for necessary daily things like paper products and food with long-distance expiration dates is going to be a desirable feature.
3. Plenty of Privacy, Please
Many of us were sheltered-in-place with loved ones, but there is too much of a good thing sometimes. Privacy became appreciated and precious, even for the kids. Separate bedrooms will be a necessity, not a luxury for the kids, and that the finished basement is going to be a big winner in the housing market. A den or game room is going to be more critical for the home buyer instead of the formal dining and living rooms.
4. Everything Energy Efficient
For those of us that spent more time away from than at home may have sticker shock with the utility bills. We've been cooking and eating at home. We've been working from home. We've been homeschooling the kids. Who would have any idea electric, gas, and water could add up so much so quickly?! If the shelter-in-place is still around as the temperatures rise, that electric bill is going to get even more significant. All of a sudden, those double pane windows aren't a luxury and grandma's funny way of weatherstripping the doors and windows make sense now.
5. Stay Home, Stay Fit
For those that went to the gym every morning, that routine changed. While the focus was staying physically healthy and looking good, it was for our minds too. Future homebuyers are going to want a workout room, or at least a space to lift weights and practice yoga. A spare room or a third car garage can accommodate a home gym comfortably.
6. Personalized Outdoor Space
When you haven't been able to leave your home for three months, a private outdoor space sounds like heaven. If it is only a small balcony where you can sit, soak in fresh air and sun, it is a slice of personal paradise. Future homebuyers that are looking for the big, spacious backyard need guidance and reminders with large yards, comes a large amount of yard work. While we can hire out landscaping and yard maintenance, during a quarantine, those are not essential jobs, so many homeowners have learned how to do the yard work in 2020.
7. Office Away from Office
Working from home isn't new, the American workforce has been doing that before this quarantine, some full time, some part-time. With shelter-in-place orders, many employers and employees have learned that working from home is possible. Future homebuyers are going to be looking for a house with office space possibilities and access to the latest technology with plenty of electrical outlets and high-speed Wi-Fi. Built-in bookcases and shelving could be the deal maker for many house buyers.
8. Necessary Amenities
Multifamily buildings offer lavish amenities to lure buyers and renters. During quarantine, those amenities have been off-limits. The fitness center and swimming pools, the adult lounges and children's play areas were the first to be closed. The doorman could accept your deliveries, and you could go to your storage room, and the elevators were working with social distance spacing. The amenities you paid extra for each month weren't accessible the past three months, making many of us realize the money could go towards creating a place their own with all the things we've discussed here.
Final Thoughts
Buyers have a rare opportunity to make offers on properties without as much competition as they were before. And quarantines due to COVID-19 have given them lots of new priorities for their next buying home, including plenty of natural light and outdoor space for privacy from the rest of the family.
So the question is, how can I view houses right now? As we know, The Coronavirus fears have hit property markets worldwide. But thanks to modern technology, we are equipped with resources that will help home buyers and sellers through the pandemic. At this point, the leading real estate expert, Park Regency Realty, has a complete grasp of Southern California's real estate knowledge and is the right expert in its field. Call us at (818) 363-6116, we are always available to complete all your home buying and selling requests.