How More Time at Home Affects Home Buying
Americans are spending more time at home than ever before. While this trend has been growing for decades, the 2020 pandemic lockdown accelerated it dramatically. Even after restrictions lifted, people continued to prioritize home-centered lifestyles. What does this mean for home buyers?
The increased time spent at home has influenced how houses are designed and marketed. As this New York Times chart shows, this is a long-term shift that isn’t going away anytime soon.
Choosing a Home That Fits Your Life
Buying a home is a significant investment, and the best purchase is one that will suit you for the next seven to ten years—or longer. Moving, buying, and selling are expensive, so selecting a home that meets your long-term needs helps you maximize your investment.
Key Factors to Consider:
- Enough space for your current lifestyle.
- Room for anticipated changes in your household. (Growing family, kids moving out, long-term guests, etc.)
- Space for planned activities. (If you want a workshop, art studio, or home gym, consider a home with a basement, outbuilding, or flex space.)
- Adaptability for future needs. (For example, an office could later serve as a nursery or guest room, and a basement rec room could become a workshop.)
Real-Life Examples:
- Growing families: A couple planning to have children within the next three to five years should consider a home with an extra bedroom. Until then, the space can serve as an office, guest room, or hobby space.
- Empty nesters: Parents with high school-aged kids may opt for a slightly smaller home, knowing their children will move out soon. The goal is to avoid excess space and costs once they become the primary residents.
- Retirees: A couple nearing retirement may look for a home with a family room and bathroom on the first floor. While it functions as a living space now, it could later become a bedroom if stairs become a challenge.
The Takeaway
Talk to your exclusive buyer’s agent about selecting a home that will serve you well both now and in the future. A knowledgeable agent can help you make a smart financial decision that saves you money in the long run while ensuring your home adapts to your evolving needs.