We have a new decade before us and you could already see yourself settled in your dream home, with all the features and the design you have always wanted. Year 2020 could be the year that dream becomes a reality and you find fulfilment in reaching for the American dream of homeownership.
Probably you’ve been saving money and thinking about buying a home for a very long time and at some point we all go through the process of buying a home, so here are some of the things home buyers are looking for in 2020.
What are buyers looking for in a property
While inspecting a property, a buyer might look after a couple of things that could potentially raise their interest and help you sell the property. Here are a few things that significantly raise home buyers interest when in search of a home within the real estate market.
Big, spacious kitchen
When it comes to the features of a house, those that have large kitchens are more likely to sell quickly. It is a very important aspect that adds a lot of value to a home, and raises the interest of a home buyer.
People usually prefer an open-floor kitchen rather than compartmentalized rooms because it allows for easy transitions between rooms.
Also an eat-in kitchen is mostly preferred amongst families with children as most of the time is spent together around the kitchen table and an open space kitchen allows for that.
A lot of people nowadays, have jobs that allow them to work remotely from the comfort of their own homes, so it is no surprise that in 2020 an important feature on a home buyers wish list is a room designated for a home office.
According to U.S. Census data, more than 13 million Americans work from home and this trend is continuing.
Having a dedicated place in the house for people that work from home keeps them focused and concentrated while they accomplish their tasks, and other projects. In order to create such a space it’s important to take into consideration not only the room designated for this purpose, but also, the interior design of the room and the color choices which have a significant impact on people. That’s why an office could very well be on a home buyers checklist.
With a growing interest for protecting nature and the environment, now in 2020 more home buyers are looking for energy-efficient homes. Homes that are energy-efficient also help limit the utility bills and saving money in the long term is another aspect that matters when buying a home.
Some ways you can make your house energy-efficient:
- Energy Star-qualified windows that have vacuum-sealed spaces in between the panels, filled with inert gas, to help reduce undesired heat loss or gain in the home.
- Thermal mass materials used in walls and slab foundations in order to absorb and store heat energy, this helps with slowing the rate of heat transfer.
High-efficiency heating and cooling systems is a very important feature when it comes to energy-efficient homes because 48 percent of the home’s energy use is accounted on the heating and cooling system.
Number of bathrooms
Since the number of rooms in a house is increasing home buyers are looking for more than just one bathroom while in search of a property. It is important to note that older homes tend to have just one bathroom and for some, remodeling might not be possible so it is important to think beforehand how many bathrooms your house should have based on the amount of rooms, and the destination of the bathrooms. Also take into consideration that remodeling your bathroom could be very expensive, so make sure you find the best ideas to remodel your bathroom on a budget for maximum profit and minimum investment.
It seems that two-bath homes are most desired amongst home buyers when choosing a house and it represents a priority on their checklist.
Number of bedrooms
The marketplace offers a variety of options when it comes to space and number of rooms for a home and depending on the home buyers needs preferences could vary. If we are talking about families with children they might look for a three-bedroom home or more, on the other hand young couples without children could go for homes with fewer bedrooms and focus on other features of the home. Bedrooms could serve multiple purposes, that’s why it is a feature that is important for the home buyer.
Bedrooms could accommodate family members with different bedtimes and study habits as well as serve families to design children specific bedrooms.
Extra bedrooms could also be used for different purposes such as an office, kids playroom or exercise room. The additional room could also make for a guest room or storage room for different supplies.
Improvements and updates for your home
Buyers in the market are usually willing to pay for quality, that’s why updates are a great way to grab the interest of a home buyer. When updating focus on the most important rooms inside the house: the bathroom, kitchen, bedroom. Other rooms inside the house might be viewed more like a bonus and not a necessity, so home buyers focus mainly on these three.
The bathroom and kitchen play a major part in pursuing a home buyer for the sale and it should not be neglected. The 2020 housing market brings forward a young crowd which means that most of the budget allocated for the home is going toward the down payment and furnishing, that’s why having an updated kitchen and bathroom are going to be important features for a home buyer in 2020.
Location, an important feature for home buyers
Easy access to places home buyers frequent the most is usually important when choosing a location. Access to main roads for easy commutes and the location of the home within the neighborhood is important for people. Some might prefer the suburbs and others would like to go for main boulevard locations. This also impacts the price of the house so be sure to check with your realtor for locations that come at a higher price.
Best new home features in 2020
The housing market has a lot to offer in 2020 and expect to see some of the newest trends, technologies and designs implemented inside our homes. Here are some of the best new home features in 2020.
Smart home technology for 2020
In 2020 we will witness an increasing interest for smart home technology. The idea of controlling thermostat, light and home security from your smartphone is no longer unachievable.
Here are some of the smart home technologies that will prevail in 2020:
Smart speakers – Handy voice assistant with some proper configuration could be used to control most of the gadgets in your home just by using voice commands. Popular choices are Amazon Echo Dot and Google Nest Mini.
Smart heating and cooling – Another innovation amongst the heating and cooling systems is the smart thermostat with WI-FI that could easily be controlled remotely through an app on your smartphone or just by using your voice. These devices could also be paired with your smart speakers. Some products worth mentioning are Nest Learning Thermostat and Ecobee SmartThermostat.
Smart home security cameras – Making your home safe is an important aspect and you need to look for the most reliable home security systems to provide the best possible security.
In terms of camera surveillance smart home security cameras took over and offered an easy to install camera that operates wireless and records high quality videos. Other functions that come with it are automatic zooming, color night vision, motion tracking, integrate siren and spotlight, 180 – degree field of view, and many others. Some important mentions are Arlo Pro and Nest Cam Outdoor.
Nowadays smart lights come with reliable solutions in order to brighten up our homes and they do it while being completely wireless and they can easily be paired with your smart speaker’s to allow for voice control in order to adjust light intensity and color.
Smart Lighting – Nowadays smart lights come with reliable solutions in order to brighten up our homes and they do it while being completely wireless and they can easily be paired with your smart speaker’s to allow for voice control in order to adjust light intensity and color. Some worthy mentions here are Philips Hue line and Wyze Bulb.
Interior design and trends for 2020
Interior design and trends are going to play an important role in the 2020 housing market. Some of the trends that will predominate in the new decade are the following:
Sustainable materials – As we see a significant increase in awareness towards protecting the environment and people are more eco conscious, this trend will be reflected in the materials and items that will be found in our homes. Houses will be enriched with earthy elements that will bring more warmth and people will shop for more sustainably which means that furnishing and household items will be carefully considered in order to reduce waste and protect the environment through recycling. On the market you can find some of the best green building materials you can use to build an eco-friendly house.
Maximalism design – Since minimalism has been the predominant lifestyle for many people, it is time for a change in the 2020 landscape through the increasing interest in the maximalism trend. While in house interior design minimalism tried toning things down and simplify the design by making it straightforward, maximalism is doing the opposite by bringing in bold, bright colors and patterns, abstract elements, mismatched pieces of furniture and a flamboyant decor.
Natural Luxury – The need for people to connect with nature will also be reflected in interior designs as a trend that brings natural elements and tones inside. Another way for people to connect with nature is through houseplants, natural materials such as cane, grasscloths, raffia and raw/rustic wood, or even a water wall could be an unusual way to increase the value of your house by adding a water element.Geometric patterns – A growing trend that is becoming very popular in 2020, the geometric patterns are giving a modern feel and look to any house interior. By choosing a geometric wallpaper that’s not too busy patterned and some classic, contemporary furniture that could highlight some of the areas inside the home through geometric harmony and balance.
Housing market predictions for 2020
Any real estate investment needs to be carefully planned and thought through in order to generate profit and appear in one’s portfolio as a successful investment. With the continuously changing landscape of the housing marketplace it is important to have a good idea of what the changes in the marketplace are going to look like in order to find the best opportunity of investing in 2020, get the best deals and avoid any potential bad investments. Also knowing cities that are most vulnerable to be hit first from a recession could help you make the best decisions. Here are some of the housing market predictions in 2020 that will give you the edge on the marketplace.
Mortgage rate below 4%
Housing economic projects that the mortgage rate remains below 4% and the central bank will not raise the rate unless there’s a sustained increase in inflation. Also the fact that central banks have a tendency of cutting rates rather than raising them is also an indication that interest rates are not going to rise.
If mortgage remains low, more people can afford to buy a home and as a result reduces the demand for rental units, and so homeownership rates will rise.
Homebuilders will construct more and more
We see in 2020 a higher interest among millennials who are looking to buy houses and there’s not enough inventory to meet the demand and this comes as a bonus for homebuilders specialized in entry-level properties. Things are not expected to change in 2020 since the economy continues to grow reasonably well, and unemployment rates are low which means that more people can afford to be homeowners in America. With interest rates at a record low, large builders will continue to invest more of their capital into home communities. This might be signs that indicate another upcoming real estate recession.