From a deadly pandemic to a global fascination with tigers to hoarding toilet paper, the year 2020 has certainly had its fair share of world-shifting events. If you’re looking for something new, even further ahead than where Joe Exotic is now, the 2021 housing market, for first time home buyers, will see even more interesting trends.
If we’re already buying everything online, why should purchasing a home be any different? Since social distancing has become the new norm, voluntary or not, online marketing is more important than ever. Or is it?
Virtual platforms, including property listings on TikTok, may have become the new norm. EXCEPT that, while digital tools (like virtual open houses and 4k photos) can be helpful to buyers, there is stillmuch to be said for walking through a house and experiencing the space in person. Remember it’s potentially the largest purchase of your life.
As the second decade of this getting-old century turns to the third, remember: All great things come to an end. And that includes living in the city! Many if not most of us are now working from home and are thus requiring more affordable space. Our moving away from the city and back to the suburbs, to be on our own or – God Forbid! – living with our parents, has become an attractive and affordable solution. Expect to see quality suburban listings – which were already hot during 2020 – move faster than a pallet of toilet paper in Costco.
Avocado is to toast as rental income is to first time home buyers. Now that you’re contemplating living in the suburbs, and buying a minivan, what do you do with all the space?! Other than opening a TikTok dance studio, renting out unused or underutilized spaces can be the perfect answer!
Empty driveway? Easy -- Potential trailer storage! Underutilized garage? A new mini storage facility. Above ground pool that has clearly seen better days? – Swimply.com. You’re swimming in options!
Yes, there are loads of ways to have your new property generate multiple income streams with the only obstacles being time and the cost of making an ad. Now that you’re thinking like a land baron, your city’s bylaws are your only limits!
Although we could never have predicted our fascination with tigers, storming stores for toilet paper or accessorizing our #OOTD with face coverings, these 2021 housing trends will be here before we know it. Make this on-coming future work for you!
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Author - Kris McFarlane