Monday, August 10, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
With the Covid-19 pandemic stretching out longer than any of us imagined, it is becoming obvious that some of the changes it has caused will be with us for the foreseeable future. Home buyers in the Hudson Valley are clearly re-evaluating their needs. No longer is it necessary to live close to work. Commuting for many will be a thing of the past. But having a home office to work in will be essential. Buyers are considering more space for home gyms, updated kitchens, and smart home appliances.
A June Realtor.com survey of 2,000 potential buyers showed that 63% of those working from home stated their potential purchase was a result of their ability to work remotely. 40% of those numbers expected to purchase a home within four to six months.
A home’s function has morphed into several different iterations. It is at once an office, a classroom, a workout facility, and a safe haven. Not only will it allow us to work more, but also have more time for recreation as hours wasted commuting will now be available for discretionary use.
Homeowners listing their home today need to be aware that buyer’s options have changed. It may be smart to re-purpose a bedroom or unused space into a home office, wired for high-speed internet and smart technology.
Homeowners must get creative, use space wisely, and ultimately find a place where all of these new essential needs can realistically be met. In today’s Hudson Valley real estate market, buyers making a move while mortgage rates are hovering at historic lows may enable you to sell your home for more money, just when you and your family need it most.
To find out more about selling your home, or for more information, CONTACT US.