Why People Are Buying Homes Right Now
As we continue to spend extra time in the house, we’re starting to re-evaluate what “home” means to us. It’s not just the place we rush into to change or fall asleep. It’s our office, our sanctuary, the place we actually cook and clean now. These revelations have changed what we want in a home, and according to experts, the real estate market is expected to keep growing because of it.
There’s a lot of reasons for the current market, but here are our top 3 reasons why people are reconsidering where they live.
Working from Home
Remote work is the new normal for many businesses, and it’s lasting longer than expected. Companies realized things can run just as smoothly with workers out of the office, and many are starting to embrace that.
But the reality is, for some people, working remotely in their current home is challenging. They didn’t buy with the expectation of everyone being home at once all day long. The urge to buy a new home is strong when there are more accommodating options available.
More Outdoor Space
Another new priority for homeowners is having usable outdoor space. The novelty of a balcony that overlooks a brick wall wears off quickly when you’re always at home. It’s driving city folk in some areas to seek less densely populated neighborhoods so they have more room to stretch their legs.
In addition, those living in apartments and townhomes are often looking for extra square footage, both inside and out.
Avoiding Renovations
With no surprise, many homeowners would rather buy a new home than go through the process of fixing up the one they have.
Depending on what needs to be addressed, today’s high buyer demand may make it possible to skip some renovations before selling. Many of these homeowners have prioritized buying over renovating for convenience and potential cost savings.
What You Need to Know
Homeownership needs are changing. After spending so much time inside our homes, we’re not willing to compromise on the things we want anymore. If you’re ready to step up to the plate and buy your dream home, contact us at the Green Mortgage Team to find out how we can help!
-Kyle Green
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