Has COVID forever changed the housing market? Here are three ideas to think about in response to that question:
1. Your house is no longer your house, it’s your base camp. In other words, it’s your office, gym, school, and everything else you need to be as self-sufficient as possible. COVID has brought to light things that are extremely important to us—that fourth or fifth bedroom, swimming pool, extra land to expand, etc. All those things were important before but are now very important.
With COVID came a lot of societal awakenings, and one of the most important was a reminder that things like pandemics do exist. This probably isn’t the last pandemic we’ll ever see. It’s humbling to think that there are things out there that can knock us around so much. I don’t see the demand for properties that can function as a home base going away anytime soon.
2. The freedom to look at other areas and enjoy a different type of adventure. I’ve known people who’ve used this time to get outside of their comfort zone. They’ve moved to North Carolina, Michigan, and everywhere in between; some of them have moved up here from San Francisco. They decided they didn’t want to be where they were anymore and made their move. They had the freedom and ability to do so.
How does this translate moving forward? Businesses have learned that people can be productive working from home. Is it ideal? For many people, no, but it’s still possible, and many see it as a long-term solution.
3. Understanding the pros and cons of every area (and feeling okay about trying something different). Before the pandemic, a lot of our clients were very California-centric. Now they’re buying different houses all over the place. It’s opened up a lot of opportunities as people have had these adventures, and I think it’s good for us to get outside of our comfort zones.
My team and I discuss these ideas with our clients often, and I don’t see them going away anytime soon. If you have questions about this topic or there’s anything else I can assist you with, don’t hesitate to reach out to me. I’d love to hear from you.