Changes In The Real Estate Space Coming In 2020
January 14, 2020
January 14, 2020
If you are looking to buy or sell a home this year, there are some new trends in 2020 that you need to be aware of. 2020 is going to be an interesting year for real estate because of technology changes. There are more smart homes being built than ever. With smart homes, you can control the temperature or locks of a property all from your smartphone. Then there are demographic changes. Baby boomers are moving to smaller properties and selling their older homes, while millennials are starting families and moving to the suburbs. Here is what you need to be aware of:
Baby Boomers Downsizing Their Homes
One of the real estate trends in the 2020s will be baby boomers downsizing their homes. The baby boomer generation is moving into their twilight years, and many are looking for smaller, more affordable properties. This means that many boomers will be selling their larger homes and moving into new communities. Real estate professionals should be prepared for this trend. Baby boomers tend to have more cash on hand than other age demographics, which will make this move easier for them.
Millennials Moving From Urban Areas Into The Suburbs
Millennials are finally spreading their wings and buying homes in the suburbs. Millennials are beginning to move out of the urban areas they chose in their early 20s when they were first starting out. Now millennials want homes and stability that they can’t get in most urban downtown areas. The move to the suburbs will lead to new development in the areas surrounding major metros, especially throughout the sunbelt and the mid-atlantic.
Today’s buyers are more technology savvy and want to be able to control their home with just a few taps of their smartphone. Smarthomes allow homeowners to control the temperature, lock doors, and view security cameras all from a smartphone. Some smarthomes even have integrated refrigerators and ovens into this system. The greater demand for smarthomes is something that real estate professionals need to be aware of going into the next decade. Homes that don’t have any of these features will be less attractive to young buyers.
Staying up on the latest real estate trends can be difficult for anybody. If you are looking to sell your property without the need for keeping up with what millennials are looking for, then you should contact 4 Brothers Buy Houses. 4 Brothers Buy Houses will purchase your home cash, and you won’t have to make any costly repairs or spend time getting your property ready for online marketing. Give us a call today and we can provide you with a free, no obligation quote. We’d be happy to work with you to sell your property on your own terms.