This year, Americans are moving for a variety of reasons. The health crisis has truly reshaped our lifestyles and our needs. Spending so much more time in our current homes has driven many people to reconsider what homeownership means and what they find most valuable in their living spaces.
According to the 2020 Annual National Movers Study:
With a new perspective on homeownership, here are some of the reasons people are reconsidering where they live and making moves right now.
1. Working from Home
Remote work became the new norm, and for some, it’s persisting longer than initially expected. Many in the workforce today are discovering they don’t need to live so close to the office anymore and they can get more for their money if they move a little further outside the city limits. Apartment List notes:
If you’ve tried to convert your guest room or your dining room into a home office with minimal success, it may be time to find a larger home. The reality is, your current house may not be optimally designed for this kind of space, making remote work very challenging.
2. Room for Fitness & Activities
Staying healthy and active is a top priority for many Americans, and dreams of having space for a home gym are growing stronger. A recent survey of 4,538 active adults from 122 countries noted the three fastest-growing fitness trends amongst active adults:
- At-home fitness equipment (up 50%)
- Personal trainers/nutritionists (up 48%)
- Online fitness courses, classes, and subscriptions (up 17%)
Having room to maintain a healthy lifestyle at home – physically and mentally – may prompt you to consider a new place to live that includes space for at-home workouts, hobbies, and activities for your household.
3. Outdoor Space
Better Homes & Gardens recently released the outdoor living trends for this year, and three of them are:
- Outdoor Kitchens: 60% of homeowners are looking to add outdoor kitchens.
- Edible Garden: Millions of people began gardening during the pandemic . . . to supplement pantries with homegrown fruits, vegetables, and herbs.
- Secluded Spaces: As outdoor activity increases, so does the need for privacy.
You may not, however, currently have the space you need for these designated areas – inside or out.
If you’re clamoring for more room to accommodate your changing needs, making a move may be your best bet, especially while you can take advantage of today’s low mortgage rates. It’s a great time to get more home for your money, just when you need it most.