The commute has long been the one factor keeping many homeowners tethered to the over-priced Toronto market. People put a premium on shorter commutes, and it doesn’t help that the average commuting time across the world has gotten longer as cities have become bigger and more congested.
But those days are coming to an end for some as major companies have been updating their work-from-home policies. A growing number of companies are making remote work permanent, a move that is rocking the downtown office market, and freeing thousands of employees to look further afield when they want to buy a home.
The home price index in Niagara has proven resilient in the last few months, even as other real estate markets have slowed down. As Niagara home builders, we’ve been witnessing growing interest from buyers leaving the Toronto market. People have more freedom than ever to choose where they want to live, and Niagara remains close enough to Hamilton and Toronto that it’s an accessible drive for workers who will still need to meet face-to-face from time to time.
Home Buyers Want More Space
The lockdown has changed Ontarians’ priorities. After spending months minimizing social contact, working from home, and not really having anywhere to go, home buyers are on the look for more space. Home has always been an important place, but in the last few months, it’s become even more central to our lives.
One of the big priorities people are looking for is extra space. Couples, where both partners work from home, need considerable extra space to stay out of each others’ way – and out of each others’ Zoom meetings. A dedicated home office helps you create a boundary between your work life and home life. A separate office can create distance, help you focus during the day, and turn off after 5 o’clock.
A home office isn’t where the demand for more space ends. Home buyers want to have everything they need to stay happy, healthy, and entertained. Home buyers want room for a home gym, spa, and outdoor entertainment space. They want to have everything they need without having to go anywhere.
The bungalows in our adult communities in Niagara offer a lot of extra space, especially if you take the option to finish the basement. Even our townhome bungalows offer plenty of private, outdoor space where you can host friends and family for a barbecue, or just enjoy a quiet evening as the sun sets and the air cools down. If you’re looking for carefree living, you want to make sure you have all your creature comforts at home and waiting for you.
The Need for Private Outdoor Space
After being cooped up all spring, many city-dwellers are coming to appreciate the value of having private outdoor space. With pictures of crowded beaches and parks prompting criticism from health officials, home buyers want to make sure they have plenty of room to enjoy the outdoors without having to risk crowds. Home buyers are conscious that a second lockdown is possible, and rather than cross their fingers and hope for the best. They’re making sure they have everything they’re going to need in their dream home. Interest in condos and properties without outdoor space has hit an all-time low, while the market for bigger houses is buzzing with interest.
Homebuyers Are Looking for a Great Community
Moving out of the city is a big commitment. Home buyers are taking the leap for healthy living and more comforts at home. But they still want to make sure they’re moving to a great community where they can stay for the long-term. If you’re looking for a house outside of the city, use this checklist for moving to a new community. Things you should keep in mind as you explore your options are access to healthcare, low maintenance living, comfort, and your future needs.
Now might be the perfect time to move out of the city. Home buyers are finding that with more freedom to work from home, and some of the lustre is coming off of big city living. Explore custom homes in Niagara and discover why so many people are.