I remember a couple years ago in 2019 when buyers were looking for less – a more minimalistic approach to home ownership. Location was everything, and in terms of the actual house, less was more. Smaller lots allowed for less maintenance, smaller homes required less cleaning and lower remodeling costs. People were noticing that they spent very little time in certain rooms of the house, and realized why live in such a big home when you only use 70% of it?
2020’s pandemic flipped this movement upside down with working and learning from home becoming the norm. Kids needed a place to learn quietly, and parents needed a place to work separate from where their kids were learning. Families abruptly need much more space.
The stock market soared in 2020, and many wealthy people became even wealthier allowing them to liquidate some assets in the volatile stock market and put their money into some tangible like coastal California real estate. Compounds became more desirable than ever. Guest houses and sprawling floor plans that allow for multiple work from home spaces. Large lots to decompress after a long day of work just a quick walk away became very appealing. With most entertainment shut down, suddenly a home needed to be very versatile allowing the owner to work, live at home, and play. What home trends have you noticed over the past few months?