3 reasons people are buying homes in 2021

 
3 reasons people are buying homes in 2021

According to many experts, the real estate market is expected to continue to grow in 2021 and is largely determined by the lasting impact that the pandemic has on our lifestyle. As many of us spend extra time at home, we reevaluate what "home" means and what it may need in the future.

Here are 3 reasons why people are reconsidering where they live and why they expect to buy a house for sale in Sibiu:

1. Working from home

Remote work is a new normal thing for many companies and takes longer than expected. Many in the workforce today are discovering they don’t need to live close to the office anymore and they can get more for their money by moving a little further outside of the city limits, David Mele, President at Homes.com, says:

“The surge in the work-from-home population has rewritten the playbook for many homebuying and rental decisions, from when and where to relocate, to what people are looking for in their next residence.”

The reality is that, for some people, working remotely in their current home is a challenge, especially when there may be other options available.

2. More outdoor space

Another new priority for homeowners is to have a more usable outdoor space. Being at home causes some people in some areas to look for less populated neighborhoods, so that they have more space to stretch their legs. In addition, those living in apartments and urban housing are often looking for additional square space, both indoors and outdoors.

According to HomeAdvisor's housing spending report, of the households surveyed, almost half reported 27% more spending on outdoor living in the past year. This is a trend that is expected to grow in 2021 and beyond.

4. Avoiding Renovations

It’s recently come to light that many homeowners would also rather buy a new home than go through the process of fixing up the one they have. According to the 2020 Profile of Home Buyers and Sellers report from the National Association of Realtors (NAR), 44% of homebuyers purchased a new home to “avoid renovations or problems with the plumbing or electricity.”

Depending on what needs to be addressed, today's high demand from the buyer may make it possible to omit pre-sale renovations. Many of these owners have given priority to purchase over renovation for convenience and potential cost savings.

In conclusion, the property needs are obviously changing. As a result, people are expected to move in large numbers this year as well, and the Sibiu real estate market to grow. If you decide that now is the right time to buy a home, contact a real estate professional in Sibiu today to discuss your options.

You're welcome!
Photo credit: shutterstock.ro