Now that more Americans are getting vaccinated and starting to resume their normal lives, many are looking to move around the country for a truly fresh start. However, we aren’t fully out of the woods when it comes to Covid-19, so many prospective buyers are changing their requirements for what’s needed in a future home to accommodate their post-pandemic lifestyles.
One survey from realtor.com showed that extra space for extended family, pets, and home offices has been top priority for most buyers, it’s also one of the reasons the housing market is on the rise in the US right now.
Realtor.com’s survey also showed that terms like fenced yard, acres, backyard, front porch, garage, and three-car garage, have been some of the most searched for requirements from buyers in the past year.
“The COVID pandemic ushered in a new way of thinking about what home means, and that is influencing much of what today’s home shoppers are looking for.”
George Raitu, realtor.com®’s senior economist claimed that: “Garages, large backyards, and space for pets always rank high on buyers’ wish lists, but those features have grown in importance. The survey results highlight that the pandemic has elevated our relationship with family as well as the need for our home to serve multiple purposes, especially the ability to work remotely. As a result, we are placing a premium on the need to accommodate extended family, and features like a home office and broadband internet.”
The following 10 features have become the most prioritized requirements from buyers according to the survey (in order from most to least): quiet location, updated kitchen, garage, large backyard, outdoor living area, space for pets, updated bathrooms, home office, broadband internet, and an open floor plan.
65% of buyers claimed that they were considering their extended family when it came to shopping for a new home, and nearly 25% stated that they planned to move closer to family. 20% have claimed that they will be having extended family living with them full-time while 30% said their new home would need to accommodate for guest visits.
“Remodeled homes dropped 88% year-to-date through May. It appears that motivated buyers are making concessions in their home search as home prices rise. Fewer searches are occurring for otherwise popular features such as granite countertops (down 58%), theater/media rooms (down 65%), and bars (down 52%),” the report notes.
The housing market in America is currently on the rise, with most states reporting that homes aren’t staying on the market for more than a couple of weeks due to the increased demand for relocation among American citizens.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at firstname.lastname@example.org.