Even though the new year is still a few months off experts and analysts are already starting to predict what the big real estate trends will be in 2019 and it’s a good time for you start preparing for these new trends. According to the experts some of the hot trends in 2019 for real estate will be:
Even though it sometimes seems like Millennials are not buying homes the oldest Millennials are now in middle age and starting families and they are on the hunt for homes. Millennial buyers are specifically looking for homes that have open concept floor plans, add-ons like smart technology throughout the house, bonus spaces that can be adapted for creative space or dedicated office space, and family-friendly features like a dedicated laundry room instead of a laundry closet and big mudrooms that can make it easy to organize all the stuff kids have. Millennial buyers are bypassing starter homes and going right for the large family homes that they plan to raise their kids in.
New construction homes will continue to dominate the landscape. Older homes are great for seniors and those that are downsizing but they are no longer seen as great starter homes. New construction homes that are designed for the tastes of Millennials and Generation Z are in very high demand as starter homes because they have the nice finishing’s those groups want and the low price that puts those puts those homes into their budget range. New construction homes will continue to be very popular with younger buyers.
Generation Z buyers are already starting to hit the marketplace and they are anxious to snap up starter homes because the real estate market dips again. This generation of buyers won’t have a huge budget but they have high expectations so you can expect them to be fussy about finishing’s and to value the function and flow of a home over other details like colors, flooring, and age.
The location will once again top the must-have lists of buyers because as gas prices and auto prices increase more and more new home buyers will be looking for homes that are close to their work or close to family and that are adjacent to public transportation. Long commutes of up to an hour to maximize the amount of house they can buy are no longer something that buyers are willing to put up with. They want decent houses in locations that mean they won’t have to spend hours fighting traffic or commuting on trains or buses every day. So look for the prices of homes in good neighborhoods that have lots of transportation options nearby to skyrocket.
Gurpreet Ghatehora on