The pandemic and lockdowns fundamentally changed the way we lived and thought about our homes. Overnight, the place we spent mornings, evenings, and weekends became the place every single member of the family was 24 x 7. We suddenly needed not just places to eat and play, but places to work and go to school – for everyone!
Kids are back in school (with the occasional quarantine) and some office workers are starting to go back to the office (although often in much more flexible arrangements than pre-pandemic). So, which real estate trends will persist and what will return to “normal”?
Here’s 3 trends we predict are here to stay:
⌂ Bigger is Better
Average home size is continuing to increase. The home office, once a “nice to have” is often now considered a necessity. Backyards have become essential for socializing. With low mortgage rates, people who can afford more house, more rooms, and overall, more space are demanding exactly that.
In the rental market, those that previously only wanted a place to sleep and eat are now looking at two- and three-bedroom options to increase the flexibility in how they work and live. Many are willing to pay more for private backyards and open floorplans that enable more work-from-home configurations.
⌂ Quality of Life Means Outdoor Space and Amenities
The work-life balance fundamentally shifted during the pandemic and for many, not in a positive way, as the lines between endless Zoom calls and traditional home life blurred. Many people found themselves working longer hours with more meetings while trying to manage kids at home. Burnout was inevitable.
Arising from the burnout is the shift towards re-balancing our lives. Pre-Covid, 1 in 3 Americans said work ranked first in their lives and that’s now closer to 1 in 4. Green space, open community space in neighborhoods, and amenities are in high demand. Communities promoting lifestyle and community-based living are likely to continue to grow.
⌂ Virtual Technology is Changing the Buying Process
Virtual property tours were a necessity for safety during lockdown. While the safety aspect is fading, virtual tours and video walkthroughs provide a convenience that home owners are still demanding. Buyers can effectively tour more homes and reserve in-person visits for the select ones at the top of their lists.
Technology has also enabled potential buyers to view more of a home. Drones can now enable aerial photography, that allow buyers to easily see a homes’ roof, landscaping, and neighborhood appeal.
All of this technology, including virtual staging, has made buying and selling homes more time-efficient and accessible regardless of whether you are looking to move a few blocks away or across the country.
At Fort + Home, we embrace these trends. The affordability and natural beauty of the Rocky Mountain region means we are poised to deliver on both indoor and outdoor space as well as quality of life. And we love using technology to not just showcase our beautiful and thoughtfully renovated housing options, but we are also proud to highlight the entire restoration process.
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