3 Homebuyer Trends This Season
We all know trends change seasonally whether it’s with clothes, music, food, or design. The same goes for the housing market in terms of homebuyer trends. This changes over time with changes in technology, new generations of buyers entering the housing market, environmental changes and much more! In an article from Inman magazine, Katie Bacheller outlines the 3 main homebuyer trends buyers are looking for this season when home shopping. The first is smaller interiors, larger and more functional outdoor space, and technology enhancements.
Homebuyer Trends: Smaller Interiors
“With the minimalist lifestyle catching on quickly, [home buyers] are tending to choose homes that meet their needs more than their wants,” said Tamika Todd, a broker at Platinum Realty. We are seeing this homebuyer trend with people building “tiny homes” and “tiny luxury homes” as well as cities introducing “micro-units”, or units even smaller than a studio to accommodate the housing shortage as well as the affordable housing issues, like we have in San Diego.
Homebuyer Trends: Indoor/ Outdoor Living
“As homes continue to increase in price, buyers are turning to feature-rich homes in favor of higher square footage,” said Andrew Helling, founder of REthority.com. Open concept living has been a strong trend for many years now, and now people want their outdoor spaces to be integrated with the same concept. For example, people want larger more open kitchens with an island for guests to gather around, rather than the traditional style of having a “family room” and “living room”.
Now, people want their yards and outdoor spaces to have the same open and inviting feel so they can entertain their guests and have more room for gardening and plants and pets. This could be due in part to the wellness revolution.
Homebuyer Trends: Enhanced with Technology
“For both personal convenience and energy efficiency, it is becoming more necessary for sellers to consider technology updates prior to listing in order to be competitive in the current market.” With more millennials entering the housing market, this is also something that this specific group is looking for.
“There’s also the growing interest in smart home technology, according to residential and commercial real estate agent Jennifer Okhovat. With technology becoming more prevalent in all aspects of our life, it is no surprise that “Smart Homes” are also on the rise!
Source: Inman | REthority
