It might seem like it will be costly to purchase a home, and you might…
3 Key Factors Homebuyers Are Considering In 2022
Peak season is right around the corner for the housing market. With only a few months in, we have learned what homebuyers are most interested in this year. What do you think most people want in their homes nowadays?
Flexible Space is huge! Some buyers aren’t able to afford homes with more square footage like they would hope for, so it’s time to think outside the box. By creating more flexible spaces that allow the room to become multi-use (such as putting a “a Murphy bed in a guest room”), it helps to not only “maximize tight square footage” inside of home but can also give the illusion of having more space by having a single area dedicated for several activities. This also works well with garages and creating a dual space for cars and a home gym. For those who need a larger space dedicated for a home office, one great option is to create a dual office/guest room— since many people only have guests stay on occasion, this allows the homeowner to have their own personal space/work space the majority of the time without any other activity going on in the room. This brings us to our general rule of thumb for creating dual-space rooms: be sure to pair each multi-use “space” with a room that’s not generally used (like the guest room we mentioned). For example, you wouldn’t want to pair your kitchen with your home office because it can be hard to disconnect from work and your kitchen then becomes associated with work (you need to be able to easily separate your mindset when pairing a space).
Location is back in 2022! But, did this ever really go away?! The last two years buyers were looking for homes away from big cities to escape from overcrowded populated areas, which was easier than ever to do with more jobs going remote during the pandemic. Now that things have started to get back to “normal,” more companies are asking their employees to head back into the office full-time or at least on a hybrid work model. This has buyers again looking to “prioritize locations closer to their jobs that they can afford” (aka moving back to more populated areas & looking for homes that can become multi-use given the higher market prices), so they can live within a reasonable distance to their office and make the commute easier.
Affordability! This is HUGE—budget is always key when buying a home, but especially in this current market! With rental increases, gas increases & home appreciation values at an all time high (the higher the appreciation, the higher the home value aka the price tag), it is important to know your budget and stick to it! Buyers are having to compromise with flexible space, location and affordability altogether in order to find their home—they need a home that has enough space, close enough to commute to the office but still in their price range. Given the compromises that will need to be made, the majority of people are still looking to become homeowners. While it can seem costly upfront, the price of buying compared to renting is still the most cost efficient option in these times.
Trying to figure out if renting or purchasing a home is the smartest decision for you? Get a quick quote! Simply fill out our 60-second form on the right or give us a call at (407) 330-7566! We look forward to discussing your options and goals with you soon!