It’s no secret that COVID-19 caused some drastic changes to the way we live in the US, but one of the more subtle changes has been the way we view our own homes. With significant shifts in the labor market, limits on available childcare, and an increased emphasis on uncrowded locales, buyers are looking for new kinds of homes to address their needs.
Here are some of the key features that home buyers are looking for in 2021!
Home Workplaces
For many people, working from home seems like a dream. Today, telework has become a new normal, with Pew Research finding 71% of Americans currently working from home while only 20% worked from home before the outbreak. Not only that, but over 50% of Americans want to continue working from home given the opportunity.
The new interest in long-term remote work has impacted the housing market, with the apartment complex design firm Steinberg Hart estimating that 75% of their future apartment units will feature dedicated home office space. A big jump up from the 10-15% of current office-friendly apartments!
At the very least, buyers desire quiet, solitary spaces that can fit a desk. Lighting and acoustics that cut down unflattering video feeds and background noise are a must in the age of the Zoom Call. Lots of outlets to charge electronic devices within arm’s length are also a plus.
Multi-Generational Housing
The pandemic raised many concerns about caring for aging family members, saving costs on rent, and raising younger children. All of these concerns have lead to a spike in multi-generational housing, with the share of home buyers purchasing a multi-generational home reaching a series high of 15% in April-June 2020.
The top three reasons for purchasing multi-generational homes include caring for elderly family members, pooling incomes to save on costs, and young adults moving back home due to COVID-19 restricting the job market.
Homes that are friendly and accessible to aged family members, with living spaces and amenities available on the first floor, will sell well in this housing market. Expect high demand for bedrooms and bathrooms!
Outdoor Amenities
Social distancing has struck everyone with a bit of cabin fever, and many buyers are itching to get outdoors without worrying about crowds. Small cities in the west like Idaho’s own Coeur d’Alene are emerging as top housing markets for their rustic locations and resort amenities.
Lakefront vacation homes are also gaining the upper hand in the ongoing lakeside vs seaside second home debate.
And buyers don’t just want access to skiing and hiking. Outdoor space on properties for hosting events and relaxing together is a must! In the words of Curt Minor of Naturescapes Designs LLC, clients “want ample space to entertain small groups and a relaxed space for gardening or other outdoor family activities.”
All of these features have brought new buyers to Idaho to find their dream home. Right now is the perfect time to advance your education to take advantage of these competitive markets to grow your real estate business.
