John and Natasha Karadsheh
The COVID-19 crisis has had significant impacts on our world and within just a few months we have already changed the way we shop, do business and socialize. Real estate is also evolving. Our homes have gone from being places we pass through, to our sanctuaries, offices, schools, gyms, and family entertainment centers.
The rapid change of use is already yielding some changes in the marketplace:
A Home Office is a Must
Home offices used to be in high demand but faded from buyer’s priority lists in recent years as we shifted toward using laptops and tablets on the kitchen table. However, with people now fully working or schooling from home, a quiet office with a closable door has become a must. A stylish Zoom call backdrop has been put on everyone’s wish list and home office decor is trending.
Guest Rooms are Back
The rise of VRBOs and Airbnbs in everyone’s neighborhood made the need for guest rooms less of a priority over the past few years. But with college students, quarantine buddies, and extended family all under one roof, we will see buyers now prioritize an extra bedroom and bathroom. If you have a home with a separate casita, it has likely just increased in value!
Backyards for Living
With everyone spending so much time at home, spacious and amenity rich backyards will be in demand. Pools, spas, backyard fireplaces, and outdoor living rooms will be on the rise. With travel curtailed, we expect buyers to value homes with great backyards and we expect homeowners to spend more time and money on backyard improvements.
County Island, No HOA and Irrigated Properties
Having a property with fewer restrictions will also be important to many buyers. A larger lot with room for a home business, casita or RV/boat storage will become important. Other buyers may seek properties with fewer restrictions so they can have expansive gardens, chickens or simply be off the grid.
Commute vs. Square Footage
With better opportunities to work from home, we anticipate that more buyers will be willing to trade a shorter commute for larger homes or properties that offer more space for their family’s needs.
Storage Space
The toilet paper, cleaning supply and meat shortages that we have experienced over the past few months will undoubtedly create a culture of being better prepared. There will be more demand for large pantries and indoor spaces that can accommodate an extra freezer.
Have your home needs changed during the past few months? Are you looking for a new space that better suits your needs? We are here to help, and our broad knowledge of the market can help you find your perfect next home!
John Karadsheh and Natascha Ovando-Karadsheh are co-owners of KOR Properties, a boutique real estate brokerage serving the Valley of the Sun, and the creators and founding sponsors of Mesa Food Truck Fridays.
John has been a Multi-Million Dollar producing agent for over 17 years, and is an Accredited Buyers Representative (ABR) and a Certified Residential Specialist (CRS) and Chair of the Arizona Regional MLS Rules and Policies Committee.
Natascha Ovando-Karadsheh is an Associate Broker of KOR Properties, a Multi-Million Dollar producing agent, Chair of the City of Mesa Economic Development Advisory Board, and Founder of the Falcon Business Alliance.
You can reach John at (602) 615-0843 and Natascha at (602) 909-4995, or visit their website at KORproperties.com.