Reinventing how and where we live
What does “home” mean to you? For many of us, the answer to this question has changed dramatically over the past year. When the world stopped, our homes became the center of our universe like they never had before. Apparently overnight, we had to figure out how to make all parts of our life – work, school, training, socializing – fit into our homes.
It wasn’t easy, but we did it. And, in the process, many of us have realized that our new, normal home life is a better match for who we are and how we want to live, not just now, but for the long term. Based on recent surveys of real estate agents, builders, recent buyers and future buyers, several housing trends that have emerged during the pandemic are expected to shape our vision for the home for the foreseeable future.
HOW TO STAY AT HOME HAS CHANGED US
Spending 24/7 at home has had a profound effect on the way we use and view our living spaces. Here’s a quick look at four big ways home life has changed how and where we live and transformed the future of real estate.
Let’s move : In the United States, more than one in five adults have moved for reasons related to the pandemic or know someone who has, according to this survey from the Pew Research Center. The combination of remote work and school, low interest rates and a desire for more space inspired by cabin fever has helped ignite the boiling real estate markets in small and medium-sized towns, suburbs. and rural areas. This trend is expected to continue, reports the first Wall Street Journal / Realtor.com Emerging Housing Markets Index, which ranked Coeur d’Alene, Idaho; Austin, Texas; and Springfield, Ohio as the top three real estate markets for 2021.
Who is most likely to buy homes in the months and years to come? The youngest (25 to 44 years old), middle-class families report A glimpse of the future of the house commissioned by CENTURY 21®. This survey of recent and future homebuyers also found that Latin American homeownership will continue to grow, reflecting a Urban Institute trend forecast predicting that between 2020 and 2040, 70% of new owners will be Latinos.
We adapt the spaces: With a certain 70 percent of us working from home (up from 20% before the pandemic), we have channeled our interior interior design to accommodate remote work and school. The corridors served as classrooms. The locker room makeovers created home offices and a gym. The neglected corners have become home-made and computer stations.
Flexible live work and play spaces promise to be an ongoing trend for owners and buyers of future homes, as 54% of people are expected to continue working from home after the pandemic, according to Pew Research. Plus, many Americans could probably use an addition (or an attic, basement, or garage conversion) with more people living under one roof than ever before in recorded history. Welcoming more – and often a multigenerational mix – into the home has helped spark an increased demand for separate living spaces for aging parents or an adult child, say home builders surveyed for Emerging trends in real estate® 2021, produced by PwC and the Urban Land Institute.
We live more sustainably (or want to be): The realities of pandemic life, such as driving less, craving more outdoor space and an increased awareness of the importance of good hygiene, have helped shine a light on protecting our health and health. of the planet.
In the Popular vote for the climate (the largest global warming survey to date) conducted during the pandemic, 65% of Americans polled now say they see climate change as an emergency. Whether or not this inspires more of us to reduce our carbon footprint at home by composting, switching to a clean energy supplier and implementing other green changes, there are signs that home buyers want to live more environmentally. More than half of real estate agents surveyed in March 2021 report of the National Association of Real Estate Agents said their customers are interested in sustainability and that in the future, homebuyers’ demand will increase for features like natural light and energy efficient appliances and heating and cooling systems, according to Emerging trends in real estate® 2021.
And, green spaces will continue to be a big draw for future home buyers, reports the CENTURY 21® survey. Of all the home features that became more important to people during the pandemic, having a large yard or other outdoor space (like a garden or lawn) remains a top priority for 92% of future buyers surveyed. A glimpse into the future of the house.
We’re big on the bathrooms: Whether it’s the increased attention self-care or because the bathroom has become a personal escape for many pandemic parents, spa-style bathrooms are now high on the wish lists of future homebuyers. Fifty-two percent of prospective homebuyers surveyed by CENTURY 21® cited high-end toiletries as their most popular interior equipment, compared to just 37 percent of recent homebuyers.
Ready to imagine your own vision for the house of the future? Visit Home Rediscovered for a deeper dive into how the past year has transformed the modern home and what the home might look like in the future. Read and watch real life stories and ideas from families who uprooted lives and embarked on great adventures to find their way home.