Outdoor living still remains one of the most important areas that home buyers consider when looking at a property. This is extremely understandable given how government restrictions like lockdowns and shelter-in-place measures kept people indoors for more than a year. Moreover, property sales continue to surge even as the pandemic slowly makes its exit.
The real estate industry has capitalized on the sudden market boom for quite a while now. However, the state of the housing market has been experiencing some fluctuations. If this causes a certain sense of anxiety for your business, it’s completely normal. Yet, certain experts have provided pieces of advice that might help put you at ease.
Property Improvement
Elevating outdoor areas has been a steadily growing home improvement project for the past few years. The sudden outbreak of the global pandemic simply accelerated the rise in demand for better outdoor living. Now, more than ever, outdoor spaces are considered more valuable than ever before.
This should be a huge hint for what your real estate business needs to prioritize to drive up sales. The importance of the outdoors is undeniable, especially after residents spent over a year cooped up in their homes. However, not all outdoor improvements can be a big hit for potential home buyers. Some are more in demand than others. Here are some prominent outdoor trends you should focus on to guarantee another sale.
Private Havens
As residents begin to be drawn towards the outdoors for exercise, rest, or gatherings, there has also been a growing need for privacy. This is particularly evident in high-density areas where neighbors can easily peer into another person’s property. Most builders have been addressing this by adding more covered areas, which can significantly reduce outdoor space.
To effectively address this issue, you should consider enclosing the property that a certain house sits on instead. However, it’s also important not to make the outdoor space feel too claustrophobic. This can easily be achieved by installing better fences that possess both form and function. The composite fencing from Trex is a prime example that you should seriously include in your next outdoor improvement.
Cooking in Nature
Another big trend that you should include in your next property is outdoor kitchens. More than just finding a space to relax in, potential home buyers are also looking for better functional areas in and out of the house. Adding an outdoor kitchen, which has been among the most in-demand spaces, can easily cater to this consumer preference.
One thing you should remember when incorporating an outdoor kitchen is the appliances. Always make sure that the fixtures you plan to equip an outdoor kitchen with are made of materials that can withstand the elements. Stainless steel equipment is usually the go-to for many builders instead of wood. Not only are they immune to rotting, but they also provide a very sleek design that buyers will surely appreciate.
Just Past the Door
Alongside the demand for outdoor kitchens, home buyers will also be looking to entertain their guests outdoors. Gatherings are expected to become more common, especially after interactions were severely limited due to safety guidelines. Moreover, adding the necessary features for gatherings will also make the outdoor living space functional year-round, which is a huge perk.
To create better outdoor areas, you should consider adding expanded and upgraded seating. This will be perfect for those al fresco gatherings, but it can also serve as an alternative dining area for the owners. Fireplaces or firepits are also welcome additions that you should include as well as weather protection like awnings. This will definitely elevate the outdoor living area, drawing in more buyers.
Market Concerns
One of the biggest worries that every real estate business is thinking about right now is the imminent crash of the housing market. Quite recently, this same concern was also among the most searched queries on Google. It’s an extremely valid concern, especially after the previous housing market crash that occurred a decade ago.
Home prices have increased drastically over the past few months while inventory in many areas has hit record-lows. There is no doubt that the housing market is extremely competitive right now, which is one of the telling signs that it’s nearing its peak. However, most experts have reassured that the market is simply overheating and not necessarily descending into a crash.
The Big Chill
In fact, another market crash is highly unlikely. The increase in demand for housing can mainly be attributed to the global pandemic, but there are other external factors to consider. For instance, more millennials have recently come of home-buying age leading to a generational housing shortage. Nonetheless, most homeowners can afford the properties that they are currently in.
So if you’ve been worrying about your real estate business recently, it’s time to stop. The market is just too hot right now, but prices will eventually cool down. Cities are expected to see a rebirth, which can significantly take a lot of the heat off of the suburban-dominated market. If anything, you should definitely keep improving outdoor spaces and closing deals.
