Today, Americans are buying homes for new reasons. The recent health crisis has truly reshaped our lifestyles and our needs. Spending extra time where we currently live is enabling many people to reevaluate what homeownership means and what they find most important in a home.
According to Zillow:
“In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.”
With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and thinking differently about what they need in a home.
WORKING FROM HOME
Remote work is becoming the new norm, and it’s continuing longer than most initially expected. Many in the workforce today are discovering they don’t need to live close to the office anymore, and they can get more for their money if they move a little further outside city limits. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:
“With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”
If you’ve tried to convert your guest room or your dining room into a home office with minimal success, it may be time to find a larger home. The reality is, your current house may not be optimally designed for this kind of space, making remote work and continued productivity challenging.
VIRTUAL & HYBRID SCHOOLING
Many school districts are using a model of virtual or hybrid learning, turning their curriculums into digital formats for students. If you have school-age children, they may need a dedicated learning space. If so, it might be time to find a larger home to provide your children with the same kind of quiet room to focus on their schoolwork, just like you need for your office work.
Staying healthy and active is a top priority for many Americans. With concern around the safety of returning to fitness facilities, dreams of space for a home gym are growing stronger. The Home Builders Association of Greater New Orleans explains:
“For many in quarantine, a significant decrease in activity is more than a vanity issue – it’s a mental health issue.”
Having room to maintain a healthy lifestyle at home – mentally and physically – may prompt you to consider a new place that includes space for at-home workouts.
Especially for those living in an apartment or a small townhouse, outdoor space is a new priority. Zillow notes the benefits of being able to use your yard throughout the year:
“People want more space in their next home, and one way to get it is by turning part of the backyard into a functional room, an outdoor space for play as well as entertaining or cooking.”
You may, however, not have the extra square footage today to have these designated areas – indoor or out.
MOVING MAY BE YOUR BEST OPTION
If you’re looking for extra room to accommodate your changing needs, making a move may be your best bet – especially while you can take advantage of today’s low mortgage rates. It’s a great time to get more home for your money, just when you need it most. To find a Charleston home that fits your family’s needs, give us a call at 843.577.4115 or start your search below: