Much like any other trend, current events always play a hand at shaping what people want, and the housing market is just one example of that. 2021’s housing market isn’t quite the same as it was in previous years for a number of reasons - the most notable being the pandemic that continues to rage on.
The pandemic has had a huge effect on how we live our lives and homebuyers are doing their best to adjust. When they’re looking at new properties, they’re taking into consideration the possibility that they’ll be able to work remotely (if their jobs allow for it of course). Remote work, either full-time or just a few days a week, is probably here to stay and these are the features buyers want, as highlighted in HomeLight’s 2021 survey for summer and fall.
1. Office space
59.6% of real estate brokers say the main feature homebuyers are vying for is a dedicated home office. They want a place where they can close the door and get their work done without distractions. A home office not only is good for remote workers, but it’s a place where the kids can do their homework (or schoolwork if they’re doing remote learning), too.
2. School districts
64.7% of real estate brokers report that their millennial clients (between 25 to 39 years old) with children are most concerned about the school district when they’re moving to a new area. Parents want to make sure that the school district has a good reputation and have the resources to give their children a well-rounded education.
3. Private outdoor space for entertaining
The Private outdoor space is more than just some empty space with planters that needs to be tended to. 47.1% of real estate brokers report their Gen X clients (between 40 to 56 years old) are looking at homes with a nice backyard because they’re eager to enjoy the fresh air and entertain guests.
4. Space for a home gym
A home gym may not be at the top of everyone’s list, but for those who used the pandemic to get into better shape, this feature is a must. Of course, not every apartment will have a dedicated space to create your own mini Equinox, but 26% of brokers say clients are happy if there’s a place where they can at least have a few pieces of workout equipment.
5. Turnkey properties
Sometimes buyers are looking for homes where they can do some renovations so they can make their new home exactly how they want. However, that’s not necessarily the case for Gen Z buyers (these are people in their early 20s). 56.1% of real estate brokers say their clients aren’t keen on renovations and they want to be able to move right in, no work required.
Today’s buyers know what’s most important to them
If you’re going to buy a house, you probably already know what features you want and aren’t too eager to compromise. It may be challenging to find a home that fits every request, but when you’re working with the right real estate agent, the chances of finding that house is a lot better than if you try to do it on your own. Today’s housing market is extremely competitive and you’re going to need an agent that knows the area like the back of their hand and can negotiate the best deal they can get.
Always remember: your realtor is a key player when you’re trying to find the right house for your family.