At one point, having a big open space was a trendy desire for a new home purchase. High demand for living in the city caused prices to be higher, and the further out you moved the more house you could get. But with COVID-19 and the stay-at-home orders, are things changing?
Realtor.com published the results from a survey of 1,300 people and found that:
- Consumers value quiet neighborhoods, outdoor spaces and proximity to grocery stores during the pandemic
- Reflecting constraints of quarantines, consumers struggle with confinement, separation from family and friends, and elevated stress
- More space, updated kitchens and home gyms top the list of desired changes for current homes
- Having more personal and family time ranks as the top benefit of sheltering at home
- Wish list for next homes: bigger houses, more outdoor spaces and updated kitchens
- While at home, 32 percent of consumers are cleaning closets and garages, gardening and painting walls
This article speaks to a rising interest in rural and small-town living, noting that "higher sickness levels, difficulties accessing basic necessities, and limited space have pushed many city residents to explore real estate purchases outside urban settings."
This will be an interesting real estate trend to watch as economies re-open and is likely to be impacted by change in COVID-19 infection rates over the next few months or year.
In their report, Central Florida Redfin market manager MaryDell Penney stated that "Pre-COVID people wanted a beautiful open floor plan. After a few months in quarantine, buyers want quiet spaces where they can actually get away from everyone else and dedicated space for school and work."