What Americans Love—and Hate—About Their Homes During Coronavirus

While sheltering in place, many folks are realizing what they love—and desperately want to change—about their homes and neighborhoods.  The post What Americans Love—and Hate—About Their Homes During Coronavirus appeared first on Real Estate News & Insights | realtor.com®.

What Americans Love—and Hate—About Their Homes During Coronavirus

There’s nothing like a pandemic forcing you to stay indoors to help you realize what’s really important in your living space.

As millions of Americans shelter in place, they’re realizing what they love—and what they desperately want to change—about their homes and neighborhoods.

The quality people valued most in their current living situation was being in a quiet neighborhood with outdoor space that’s near grocery stores and pharmacies, according to a realtor.com® survey of 1,300 homeowners and renters.

The survey was conducted during the week of April 5. About 13% of respondents ranked each of these characteristics highly.

“After more than a month of stay-at-home orders, it’s safe to say Americans are really getting to know what home features work and don’t work for their families,” realtor.com’s chief marketing officer, Nate Johnson, said in a statement.

That outdoor area in a quiet community can provide fresh air and a much-needed mental health break from those who have been cooped up at home for too long.

Ten percent of folks also appreciated having an updated kitchen, all the better for preparing meals at home when dining out is not an option. About 9% of participants liked their natural light, and 6% appreciated flexible spaces that can be used for crafting, gaming, or exercise.

What folks yearned for the most—but didn’t have—in their homes was more space. Hey, it’s hard to be quarantined with everyone on top of everyone else! About 19% of survey participants dreamed of additional square footage, while 13% wanted an updated kitchen and 11% wanted a home gym.

Updating the style of the home, wanting more natural light, and adding a yard or patio all ranked highly, with about 9% of participants each. An additional 6% hoped for an extra bathroom.

And since they’re stuck at home, many folks are making the best of it by finally getting around to their do-it-yourself lists. About 32% of those surveyed said they had started a home improvement project, and another 15% plan to embark on one.

“As we move forward, we expect the shelter-in-place experience to have a significant influence on home-buying trends and how buyers prioritize home features, neighborhoods, and home improvement projects,” Johnson said in a statement.

The most common DIY project was finally getting around to cleaning out the closets or the garage, at 21% of participants. That was followed by gardening and planting, at 17%; painting, at 13%; redecorating a room, at 10%; and rearranging the furniture, at 9%.

In addition, folks were keen on adding artwork or decor to their homes, at 7%; adding a home gym or workout space, at 5%; and installing an office or workspace, at 4%.

The post What Americans Love—and Hate—About Their Homes During Coronavirus appeared first on Real Estate News & Insights | realtor.com®.

Source : Realtor More   

What's Your Reaction?

like
0
dislike
0
love
0
funny
0
angry
0
sad
0
wow
0

Next Article

RENEWALS LATEST: Tenants negotiating lower rents with landlords as they stay put

Latest research from leading lettings agency reveals record number of renters staying put and renegotiating lower rents during March, a trend that is likely to accelerating this month. Over two thirds of tenants renewed their rental agreements during March and many negotiated lower rents as they stayed put to weather the Coronavirus crisis, a leading […] ©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - RENEWALS LATEST: Tenants negotiating lower rents with landlords as they stay put | LandlordZONE.

RENEWALS LATEST: Tenants negotiating lower rents with landlords as they stay put

Latest research from leading lettings agency reveals record number of renters staying put and renegotiating lower rents during March, a trend that is likely to accelerating this month.

Over two thirds of tenants renewed their rental agreements during March and many negotiated lower rents as they stayed put to weather the Coronavirus crisis, a leading lettings index has revealed.

Estate agency Hamptons International says 70% of tenancies that were due to renew last month re-signed their contracts, the second highest proportion to do so since the company’s index began six years ago.

Tenants, aware of the economic problems the Coronavirus crisis was likely to create, have clearly been negotiating with existing and prospective landlords to reduce their outgoings during the year ahead.

Rent renewals

Renewed rents fell across three regions – the South East (-1.4%), the East (-0.4%) and Greater London which recorded the biggest year-on-year fall (-2.2%).

Also, although the average rent of a newly let property increased to £980 pcm in March, up 1.2% year-on-year, the rate of rental growth more than halved since February, when rents rose 3.3% year-on-year.

And as lockdown measures were enforced during March the number of new applicants registering to rent a home fell by a third compared with the same period in 2019.

“Once lockdown restrictions ease, we expect activity levels to rise. Renting offers more flexibility than buying a home, so as uncertainty rises, so too does the demand for rental homes,” says Aneisha Beveridge, Head of Research at Hamptons International.

“But although demand for rental accommodation is set to increase, and there are already signs of it picking back up again, the longer-term economic damage to people’s jobs and incomes means that rents on newly let properties are likely to fall between 2% and 5% this year.”

Read advice about tenancy agreements.

©1999 - Present | Parkmatic Publications Ltd. All rights reserved | LandlordZONE® - RENEWALS LATEST: Tenants negotiating lower rents with landlords as they stay put | LandlordZONE.

Source : Landlord Zone More   

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.