Despite the turbulent events of 2020 (or perhaps because of it), tens of thousands of Americans are purchasing homes. Various factors have influenced this housing phenomenon. Below, real estate developer and entrepreneur Andrew Shader gives his take on the top three reasons why Americans are choosing to move amid the pandemic.
The Newfound Ability to Work from Home
Over the last year, working remotely has become increasingly prevalent due to widespread lockdowns and concerns for employee safety. Even though most states have fully reopened, many companies still allow some employees to continue working remotely.
With the potential to work remotely indefinitely, many Americans are finding that their current living arrangements are not ideal for creating a great home office space. In addition, remote work means that thousands of homeowners are no longer bound by a need to live close to a centralized work location. In fact, they are finding they can get more for their money by living outside of city limits.
Improved Access to Health and Fitness Amenities
The housing market is not the only industry that surged in spite of the COVID-19 pandemic. Home fitness equipment suppliers, remote personal trainers, and virtual workout subscriptions experienced a significant uptick in interest, as well. This newly revitalized focus on staying active and in good health has heavily impacted the real estate market.
Many Americans faced unprecedented challenges during lockdowns, including unforeseen difficulties in getting a good workout. Gyms everywhere had to shutter their doors, which prompted millions of people to purchase home fitness equipment.
Unfortunately, not everyone has the space to create a personalized workout space. In general, the pursuit of more space is one of the most critical factors motivating Americans to move now. Whether a buyer is looking to create their dream home gym or simply wants to move to a community with a fitness facility, improved access to health and wellness amenities is extremely important to citizens.
Desire for More Outdoor Space
As you can see, the pursuit of more space is at the forefront of this home-buying tidal wave. With that said, having more square footage under the roof is not the only priority for hopeful homebuyers. Most people on the hunt for a new home are also looking to upgrade their outdoor space.
During the pandemic, many people spent far more time at home than they ever had before. That made outdoor amenities and technologies extremely valuable. Some of the most popular outdoor trends of the past year include the following:
- Private, secluded spaces
- Outdoor kitchens
No matter what goals a homebuyer has, increasing the overall space is almost certainly part of the equation. Whether you are involved in real estate as a buyer, seller, investor, or agent, you must leverage these trends to your advantage. Doing so will help you make the most out of each transaction and improve profitability.
About Developer Andrew Shader
Andrew Shader is an entrepreneur and a successful real estate developer and investor in Fort Lauderdale, Florida. He got his Business Management and Marketing degree from Florida State University. After spending years in the insurance industry, Mr. Shader decided to shift his focus to real estate. Andrew specializes in value-added properties and boosting property value through investment.