The last 3 years have been a huge adjustment for everyone. Changes in our basic needs and wants have drastically shifted (mainly forcibly), resulting in more flexible working arrangements, less travel, and more time spent at home. What this also means is that buyers’ needs and wants when looking for a property have also changed.
We’ve summarised the four top inclusions that buyers are currently looking for when investing in property:
Location:
According to a study undertaken by CoreLogic in April of this year, waterfront properties and family-friendly suburbs were at the top of buyers’ preferences when it came to location. You can imagine after not being able to travel for so long that waking up to beautiful ocean or river views would feel like you’re on a permanent holiday without ever leaving the comfort of your own home! At the end of the day, location is the one element of your home that you really can’t change, so if that’s not on your side, let’s take a look at some of the other inclusions buyers are looking for.
Outdoor space:
Similarly to the location of your home, reasons for having great entertainment space stem from the route cause of spending a whole heap of your time out there. During lockdowns, taking a stroll in the backyard for some, was the closest thing to getting in touch with nature and having fresh air. This has resulted in outdoor space and design becoming a huge priority for some sellers. This includes outdoor entertaining such as a patio, alfresco, courtyard or balcony, as well as grassed areas, and for some, swimming pools. These outdoor spaces were proven a lifeline during lockdowns, and aren’t likely to wane anytime soon.
Office space / study nooks:
It goes without saying that COVID-19 impacted working arrangements for just about everyone. Companies who were sworn to the Monday to Friday 9-5 in-office grind, had to quickly adapt to ensure safety measures were met, and employees were comfortable. Though we seem to be back to some form of normality, for most businesses not much has changed in terms of their flexible working arrangements, enabling employees to continue working from home. This has exaggerated the requirement for office space / study nooks in homes, with some buyers now looking for even up to two additional rooms dedicated to working from home areas.
Self-contained units / granny flats:
With the world now opening up and families being reunited around the globe, having the space to host friends and family is vastly important for some. Short-term holiday accommodation such as Airbnb has also begun to take off again, so having added accommodation space can also result in an increase of income. Self-contained units or granny flats on properties have become increasingly sought after and popular attributes for buyers, as they typically both offer more flexibility and more privacy. If granny flats aren’t for you, some buyers are also opting for properties with two main bedrooms with ensuites – one for you and the other for your guests. This shift is also about accommodating intergenerational living, with grandparents often staying for lengthy periods of time, or even living at the property, while children are also remaining at home longer than in years gone by.
Looking to buy or interested in selling? For a free and reliable up to date market appraisal, and advice from our expert negotiators – contact us today!