There's no doubt that our lives have been radically changed because of the COVID-19 pandemic. It has affected the way we do work, school, travel, how we socialize, and more. Moreover, being confined in our homes for more than a month has made us see it in a new light. We’re getting to know what features don’t work for us, and what will be beneficial for our families if we are ordered to stay at home for longer. After all, there’s nothing more important than having a safe shelter for our families.

This is why experts predict that home buyers who enter the market once the risk of the virus subsides will have a whole new set of priorities in their home search. Fixer uppers won't be the first choice since contractors may not be available to work, unless you’re the type who can fully DIY. Likewise, an open floor plan may not be desirable as it once was, especially if you’re working at home with your partner while homeschooling the kids. 

Here are five ways the current health crisis could change the future buyers’ must-have list:

As more and more people are embracing remote work to help curb the spread of the virus, there'll be higher demand for homes with an office that’s both comfortable and functional to promote productivity. According to Realtor.com, listings featuring an office command a more than 3 percent price premium and sell 9 days faster than listings without the feature. 

So whether it’s a full-fledged room or just a dedicated work area with ample electrical outlets, space for computer and other office necessities, built-in bookshelves, or a quiet atmosphere, highlight those characteristics when listing your home for sale. 

For smaller homes that couldn’t accommodate a full office, there are ways to make your home shine in the eyes of potential buyers. Popular alternatives may include carving out an office space in the kitchen, an upstairs landing, or underneath the staircase. 

 

Before this health crisis, most people didn't put much thought into how they entered their homes. But because of the fear of bringing the virus into our private spaces, having a mudroom or a dedicated entryway has never been more important. It’s the perfect place where you could stash your dirty shoes, hang up your jackets, clothing, gloves and masks, and other belongings for disinfection. It can also be a decontamination station for potentially infected packages, reusable grocery bags, and even takeout bags to avoid carrying dirt and viruses into your living quarters. 

If there’s no mudroom or entryway, an easy solution would be a dedicated place in the garage or on the front porch. You can install a pegboard wall where you can add hooks, shelves, and storage bins to hold sanitizers, disinfectant wipes, and other cleaning supplies. Adding a bench or a seating area with cubbies will also be more appealing since more people may now start removing their shoes as they enter the house.

 

Kitchens are the heart of the home. And with the virus eliminating our ability to go out to eat at restaurants and even limiting our takeout options, we're becoming more acquainted with our kitchens as we prepare and cook several meals a day. This is why it’s expected that future homeowners will have more interest toward kitchens that are spacious enough for the family to cook and hang out together. They should also be equipped with high-quality and efficient appliances, such as refrigerators and ovens.

Likewise, a bigger pantry will be critical for storing more food and non-perishables so people can cut back on the number of grocery store trips they have to make.

 

The COVID-19 pandemic has taught us that the safest place we could be is in our homes. And that includes our outdoor living spaces, where we can have some fresh air and bask in sunlight without leaving our properties.

This is why more people will want to buy a home with extra yard space. In fact, in the latest survey of Realtor.com® and Toluna Insights on what homeowners wish they could change about their home to make it more livable while sheltering in, 9% of respondents wanted to add a yard or patio. Having plenty of outdoor space is also ideal for those who want to start a small garden and try their hand at urban gardening. Even a small balcony in condos or townhomes can also be a huge advantage. No matter the size of the property, buyers would want an outdoor space where they can take a much-needed mental break, especially in times like these where we are being ordered to stay home or undergo quarantine.

 

Future homeowners will certainly keep the lessons of the COVID-19 pandemic in mind when searching for homes. If a family member has caught the virus and needs to self-isolate, sharing a bathroom with other family members could be dangerous. Having an additional bathroom or requiring one bathroom for every bedroom is now critical to keep germs in one place.

And just like after the 1918 Spanish Flu pandemic, even a half-bathroom, which was once considered a waste of space, is now a necessity. It's where you can direct visitors to wash their hands first before walking further into the home, or if they need to use the loo but you don’t want them using the family bathroom.


12 Reasons Why This is a Better Market for Buyers

I TALKED TO A LOT OF POTENTIAL BUYERS AND SELLERS EVERY DAY WITH WHAT I DO AND INEVITABLY A COUPLE OF TIMES A DAY I'M GONNA HAVE PEOPLE THAT I'VE BEEN TALKING WITH JUST SAY, I'M GONNA WAIT TO BUY. I'M JUST GONNA WAIT AND YOU KNOW, IN MY HEAD, I'M THINKING, WAIT FOR WHAT YOU THINK, INTEREST RATES ARE GONNA GO BACK DOWN TO TWO OR 3%. I DON'T THINK WE'RE GONNA SEE THAT AGAIN IN OUR LIFETIMES. I REALLY DON'T UM I HOPE I'M WRONG ABOUT THAT. UM BUT I JUST, I DON'T SEE IT HAPPENING. WHERE THE PRICES AREN'T CRASHING DOWN. WE'RE STILL, IT'S STILL A SELLER'S MARKET, THERE'S STILL UM MUCH MORE DEMAND THAN THERE IS SUPPLY OF HOMES. AGAIN, I STARTED THINKING, I GO, WHAT ARE SOME OF THE REASONS WHY THE MARKET IS BETTER FOR BUYERS AS WE SIT HERE IN THE, YOU KNOW,THE LAST QUARTER OF 2022 VERSUS HOW THINGS WERE FOR YEARS ENDING IN WHEN THE MARKET SHIFTED RIGHT AROUND EASTER THIS YEAR. THAT'S WHEN THE MARKET CHANGED. SO I CAME UP WITH 12 PROS AND ONLY ONE CON. SO LET ME SHARE THOSE WITH YOU.

 

PRO NUMBER ONE IS A SELLER PAID CLOSING COSTS. THESE SELLERS WERE NOT PAYING ANYTHING UH FOR YEARS, IN MOST INSTANCES, YOU KNOW, THEY PAY THEIR, THEIR REAL ESTATE FEES, DOC STAMPS IN THE DEED, BUT YOU'RE BUYING, YOU KNOW, YOU AS THE BUYER WOULDN'T WOULD HAVE TO COME OUT OF POCKET FOR JUST ABOUT EVERYTHING ELSE. WE'RE GETTING SELLERS TO PAY, CLOSING COSTS IN SOME INSTANCES NOW AS A NEGOTIATION POINT. SO THAT'S EXCITING. IT'S LESS OUT OF POCKET FOR THE BUYERS.

 

THE SECOND REASON IS SELLER PAID RATE BY DOWN. WHAT WE'RE DOING IN SOME INSTANCES IS RATHER THAN REDUCE THE PRICE, WE'RE TAKING THAT MONEY THAT YOU WOULD NEGOTIATE WITH THE SELLER AND HAVING THE SELLER BY YOUR RATE DOWN. SO I MEAN THAT'S EXCITING TO BUY IT DOWN. MAYBE, AS WE'RE SITTING HERE IN OCTOBER, THERE ARE 7%, YOU CAN BUY IT DOWN TO SIX, MAYBE EVEN FIVE. SO THAT'S SOMETHING THAT WASN'T GOING TO HAPPEN IN THE PAST.
 

THE THIRD IS THE SELLER PAID TO ONE RATE BY DOWN. AND WHAT THAT IS IT'S A NEW, IT'S A NEW PROGRAM THAT A LOT OF LENDERS HAVE WHERE THE SELLER BUYS DOWN YOUR RATE AND IT'S 2% LESS THE FIRST YEAR. SO IF IT'S 7% YOU'D PAY 5% THE SECOND YEAR, IT'S 1% LESS. SO IF IT'S 7% YOU PAID SIX AND THE THIRD, YOU'D BE AT SEVEN IN THE THIRD AND BEYOND, YOU'D BE AT 7%. OKAY? BUT HERE'S THE DEAL WITH THAT THAT GETS YOU THAT GETS YOU ABLE TO AFFORD MORE HOUSE HERE IN THE SHORT TERM AND THERE'S GONNA BE OTHER,ONE OF TWO THINGS WILL HAPPEN IN THE IN THE FUTURE EITHER THE FIXED INTEREST RATES ARE GONNA COME DOWN SO YOU CAN REFINANCE OR THERE'S GONNA BE OTHER LENDING PRODUCTS THAT ARE GONNA COME OUT MAYBE ARMS UM LOOK THEM UP WITH OTHER SOLUTIONS TO,BECAUSE AFFORDABILITY IS AN ISSUE NOW WITH THE RATES GOING UP IN THE PRICE INCREASES IN RECENT YEARS. SO THAT'S ANOTHER OPTION FOR YOU ON THE TABLE.

THE FOURTH REASON WHY BUYING A HOME CAN BE BETTER HERE NOW AT THIS POINT IN 2022 THAN IN RECENT YEARS IS SELLER PAID REPAIRS. UM YOU KNOW, SELLERS DIDN’T WANT TO DO ANYTHING. IN FACT, THEY SOME OF THEM DIDN'T EVEN WANT BUYERS TO HAVE INSPECTIONS FOR HEAVEN'S SAKES. NOW THE SELLER IS THE SELLERS ARE GOING AHEAD AND MAKING YOU KNOW, REPAIRS ON THEIR PROPERTY BEFORE PUTTING THEM ON THE MARKET. THEY'RE REPLACING ROOFS, YOU KNOW, IF THEY NEED TO REPLACE ROOFS AND THERE'S ALL SORTS OF THINGS THAT THE SELLERS ARE WILLING TO DO THAT THEY WERE RESISTANT TO DO IN RECENT YEARS JUST BECAUSE THERE WAS SO MUCH DEMAND.

 

THE 5TH REASON IT'S BETTER TO BUY A HOME IS SELLER PAID IMPROVEMENTS. SELLERS ARE GOING AHEAD AND MAKING IMPROVEMENTS TO THEIR HOME PRIOR TO PUTTING THEM ON THE MARKET WHERE UM YOU KNOW, WHEREAS BEFORE THERE WAS JUST ABSOLUTELY NO REASON TO, SO, YOU KNOW, YOU AS THE BUYER ARE GONNA BENEFIT FROM THAT BE THE ONE THAT WILL BENEFIT MOST FROM THAT.

 

THE SIX POINT OF WHY THIS IS A BETTER HOME FOR A BUYER TO BUY TO BUY MARKET IN RECENT YEARS IS PRICE NEGOTIATION. THERE WAS NO NEGOTIATION AND PRICE PREVIOUSLY IT WAS, HOW MUCH ARE YOU WILLING TO PAY OVER LIST PRICE? TO TRY TO GET THE HOME RIGHT AS CRAZY AND PEOPLE ARE PAYING, YOU KNOW, PEOPLE ARE PAYING, YOU KNOW, $6100 OVER LIST PRICE. THEY WERE GIVING AWAY THEIR SEASON FOOTBALL TICKETS. I MEAN, MAD TRIPS, its MADNESS. OKAY, ALL THAT'S GONE. SO WE'VE GOT PRICE NEGOTIATION NOW, THAT'S THE WAY IT SHOULD BE.

 

THE 7TH REASON WHY THERE'S IT'S BETTER TO BUY A HOME HERE IN THIS MARKET THAN THE PREVIOUS MARKET IS YOU PAY LESS THAN ASKING PRICE. RIGHT? YOU FIND OUT IF THERE'S ANY OTHER COMPETING OFFERS, IF THEY'RE NOT, WE CAN NEGOTIATE A LITTLE BIT RIGHT? SO, I MEAN, THAT'S EXCITING, YOU GET A BETTER DEAL THAT WAY.

 

THE 8TH REASON WHY IT'S BETTER TO BUY A HOUSE IN THIS MARKET THAN THE PREVIOUS HOT MARKET. YOU DON'T HAVE TO WAIVE INSPECTIONS, OKAY, WAIVING INSPECTIONS IS A TEAR. IT WAS A TERRIBLE IDEA, BUT I MEAN, PEOPLE HAD TO DO IT TO GET A HOUSE RIGHT? UM YOU WANT TO MAKE SURE THAT EVERYTHING IS AS YOU WANTED TO BE BEFORE YOU BECOME THE OWNER OF THAT HOME AND UM, YOU KNOW, NOW WE'VE GOT TIME TO DO INSPECTIONS AGAIN AND JUST MAKE SURE, YOU KNOW, IT'S A, IT'S THE SMART INVESTMENT FOR YOU. SO THAT'S BACK IN PLAY.

THE 9TH REASON WHY THE MARKET IS BETTER NOW FOR BUYERS THAN IT WAS IN THE RECENT HOT MARKET IS INSPECTION NEGOTIATIONS, OKAY. UM, EVERYTHING WAS AS IS BEFORE FOR THE MOST PART, OR VERY, VERY SMALL, REPAIR LIMITS THAT WERE PUT ON THE, PUT ON THE CONTRACTS AND UH, NOW YOU CAN GET STUFF FIXED. YOU KNOW, IT'S A LOT EASIER. IT'S A LOT EASIER TO GET A FIXED SELLER, TAKE CARE OF IT BEFORE YOU MOVE IN AND THEN HAVE IT BE YOUR PROBLEM ONCE YOU BUY IT.

 

 

THE 10TH REASON WHY IT'S BETTER FOR BUYERS TO BUY NOW THAN IT WAS IN THE PREVIOUS HOT MARKET IS YOU GOT TIME TO THINK IT OVER RIGHT SO MANY BUYERS JUST NEEDED A HOUSE, RIGHT? AND I MEAN, IT'S LIKE, YOU GOTTA, YOU GOTTA DECIDE RIGHT NOW, YOU KNOW, IT'S IN, YOU KNOW, OFTENTIMES THE BUYERS WERE SETTLING FOR A LOT OF STUFF THEY REALLY DIDN'T WANT JUST BECAUSE THEY NEEDED A PLACE TO LIVE. SO YOU GOT A LITTLE BIT OF TIME TO THINK THINGS OVER AND JUST MAKE SURE THAT THIS IS GONNA BE THE RIGHT MOVE FOR YOU.

 

 

THE 11TH REASON WHY IT'S BETTER TO BUY A HOME IN THIS MARKET THAN THE PREVIOUS HOT MARKET IS YOU CAN HAVE CONTINGENCY CON CLAUSES IN YOUR CONTRACT, YOU CAN'T HAVE THAT, I MEAN, PREVIOUSLY, IF YOU HAD A CONTINGENCY CLAUSE, WHY WOULD THE SELLER EXCEPT THAT WHEN THERE'S YOU KNOW 10 OTHER OFFERS OR 20 OTHER OFFERS THAT DON'T HAVE THAT RIGHT? MAYBE GOT A HOME TO SELL. NOW YOU CAN FIND A HOUSE, YOU KNOW, THAT'LL FIND A SELLER THAT'LL TAKE A CONTINGENCY ON THE SALE OF YOUR HOME AND YOU CAN TIME EVERYTHING BETTER THAT WAY AND YOU KNOW, HAVE A LOT LESS STRESS.

 

 

THE 12TH REASON WHY IT'S BETTER FOR BUYERS TODAY THAN IT WAS IN THE PREVIOUS HOT MARKET IS YOU'VE GOT LONGER CONTRACT TO CLOSE IF YOU WANT IT RIGHT THERE, THEY'RE NOT PUSHING TOO CLOSE AND YOU KNOW, 20 OR 30 DAYS LIKE THEY WERE IN THE PREVIOUS MARKET. SO YOU'VE GOT LONGER TIMEFRAMES, YOU KNOW, MAYBE YOU'VE GOT A HOME TO SELL OR YOU KNOW, YOU JUST DON'T WANT TO MOVE FOR A CERTAIN PERIOD OF TIME, YOU NEGOTIATE IT OUT NOW.

AND OF COURSE, THE ONE CON OF BUYING TODAY AND IT'S A VERY SHORT LIST IS THAT INTEREST RATES ARE HIGHER, RIGHT? UM YES, THERE'S STILL HISTORICALLY LOW EVEN AT 7%, BUT IT'S A LOT HIGHER THAN THREE. AND UH WE UNDERSTAND THAT, BUT YOU KNOW, LIKE WE ALWAYS SAY UM MARRY THE HOUSE AND DATE THE RATE UM THEY'RE GONNA COME BACK DOWN. I MEAN THERE'S GONNA BE OTHER PRODUCTS THAT ARE GONNA SHOW UP. UM IT'S A LOT BETTER TO BUY AT 7% THAN IT IS IF IT GOES UP TO 10 OR 12 AND THERE'S A LOT OF REALLY SMART PEOPLE OUT THERE WHO ARE SAYING IT'S GONNA GO UP TO 10 OR 12 BEFORE THIS IS ALL SAID AND DONE. SO 7% ISN'T GONNA LOOK SO BAD WHEN THAT DAY COMES. SO AND AGAIN LIKE I SAID, YOU CAN ALWAYS REFINANCE LATER IF YOU WANTED TO. UM THERE'S GONNA BE ALL SORTS OF OTHER PRODUCTS THAT WILL COME OUT. BUT YOU KNOW AT LEAST YOU CAN GET THE HOME YOU WANT AND LIVE YOUR LIFE. AND WHEN THAT DAY COMES YOU'LL HAVE OTHER OPTIONS. IF I CAN HELP YOU WITH ANYTHING BUYING OR SELLING, JUST REACH OUT TO ME. YOU CAN IF YOU'RE SEEING THIS ON SOCIAL MEDIA, GO AHEAD AND DIRECT MESSAGE ME, I'LL BE THE ONE ANSWERING YOU SO MAKE SURE THAT YOU DO IF YOU TALK TO ME I WILL BE THE ONE TALKING TO BACK, IT WON'T BE AN ASSISTANT, IT'LL BE ME. AND SO JUST KEEP THE CONVERSATION GOING. IF HE COULD AND UM IF YOU PREFER YOU CAN CALL OR TEXT ME AT 85O-677-1630. YOU FOUND THIS HELPFUL GO AHEAD AND LIKE THIS, SHARE IT WITH ANYBODY THAT YOU MIGHT KNOW UM PUT IN THE COMMENTS WHAT YOU THINK ABOUT THIS PROS AND CONS LIST. AND UM IF YOU WANT TO FOLLOW ME ON INSTAGRAM YOU CAN FOLLOW ME @MEETSCOTTGREGORY, LOOK FORWARD TO TALKING TO YOU SOON. TAKE CARE!

 

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