Families are Choosing Bigger Homes
In the last few months we have noticed that buyers with school aged children are upsizing. They have reassessed their priorities after living through the lockdown. Even though school is in session they want to be prepared in case of an exposure that requires time quarantining at home. Many are concerned about the possibility of a second shutdown and want to be ready in case new shelter in place orders are issued. For a lot of them, this means more square footage so that everyone has room to spread out.
Larger Homes for Empty Nesters
Most people assume that once the kids have moved out that smaller square footage is more desirable. However, we’ve noticed a lot more empty nesters opting to upsize as well. They want to accommodate their adult children and even future grandchildren.
Their Top Priorities
Besides more square footage other features have become more important to buyers. Bonus rooms and fully developed basements that provide space for older children have become more important. The popularity to cooking and baking at home (sourdough bread anyone?) has increased the value of a large kitchen with lots of storage, high end appliances and big pantries. Home gyms and outdoor living areas are higher priorities as are home offices.
Home is More Important
Now that we are all spending more time at home we want them to be as comfortable as possible. Since many vacations were cancelled this year home owners are putting their money into upgrades and renovations around the house. We’ve spoken to a lot of contractors and tradespeople and most have said that they are extremely busy with requests for home improvement projects.