The real estate industry is always changing. That’s why it’s important to keep ahead of the curve and understand what trends are in and out of fashion. Whether you’re a seasoned investor or just looking to make the most of your own property, this article outlines all the latest real estate trends you need to keep in mind.
Higher house prices
House prices have been on the up as of late. To make things even more difficult, low interest rates coupled with record numbers of investors means rental yields are shrinking, too – a bad sign for those looking to purchase a property with the intention of renting it out.
People are prioritizing space over place. Rather than living in an apartment close to the city center, more people are moving out to the suburbs. This means people are looking for large homes with more bedrooms and bathrooms as well as large lawns. More and more, people want to live in estates with large backyards.
Open-plan living is the biggest trend at the moment and for good reason – it creates a sense of space as well as giving homeowners more options as to how they use their living spaces.
Suburbs over city living
An increased number of people are opting to live in the suburbs rather than big cities. Suburbs are more affordable, have bigger properties and provide people with more space. Another advantage of suburbia is that you get a lot more house for your money.
Suburbs are known to be more family oriented compared with urban areas, which tend to attract a younger demographic.
Suburbs are also being viewed as a good alternative to big cities, due to the fact that they typically have better schools and lower crime rates.
It’s no secret that population rates are growing. This means more people are looking for pet-friendly homes, with larger yards and more space to move around – especially those who want to own a house pet such as a dog or cat. Houses with larger yards, more space, and better security are ideal because these aspects afford the animal a better quality of life.
This is important given the number of people that own pets these days. People are increasingly kitting out their homes to make them more suitable for pets. By getting an automatic sliding door, you are increasing the chance that a buyer will look at your property favorably.
Virtual real estate
With the Internet playing an increasingly important role in people’s lives, virtual real estate tours are on the rise. This allows potential buyers to look around your home without even being there – making it easier for them to make a decision. A good way of doing this is by using Quicktime VR cloud-based software. This is a relatively cheap way of setting up virtual tours because all you need to do is take photographs and upload them onto the website.
By keeping the above trends in mind, you’ll be one step ahead of the game and ready to make all the right moves when it comes time to sell your property.