With all the time people have spent indoors and at home in recent months, they have a newfound appreciation for easy access to the outdoors and comfortable living spaces.
Stay-at-home orders and the pandemic have highlighted the importance of the ability to spread out to maintain a certain quality of life.
Townhouses and apartments usually offer easy access to more urban areas with restaurants, bars, and other areas of social gatherings. Still, there has been a recent change in how we’ve been able to access these places. People have been questioning where they want to live, who they want to live with, and what they want in their homes to ride out a pandemic. Outdoor living spaces, bigger houses, and access to wide-open spaces have people looking at the suburbs in a whole new light.
“People are looking for new ways to maintain the overall quality of their lives.”
Why Will People Move to the Suburbs?
People living in highly populated cities with large apartment buildings have seen a significant change in their day-to-day lives. Some of the regulations may limit elevators to only two passengers at a time while shared gyms, rec rooms, and other amenities have had to shut down altogether. If people aren’t able to access the facilities that convinced them to move into a building in the first place, they might be questioning their decision on where to live.
As people being to come out on the other side of stay-at-home regulations, many people are looking at the possibility of continuing to be able to work from home and not have to return to commuting to work five days a week. With limited or non-existent commutes on the horizon, it is now becoming a priority to have a designated workspace in your home, rather than be close to your office. Smaller apartments may not give people the space to separate their work life and their home life, and it will be increasingly difficult and equally important to maintain a balance between the two.
Families living in the city with young children are facing the possibility of online learning for part of next year, too. Parents are trying to juggle their work while helping to educate their kids. A home with more space to spread out may ease the tension and give everyone the space they need to focus on their work. Moving to the suburbs sooner rather than later may give their children a better opportunity to settle into their new home and neighborhood before going back to school. If families were considering private school, they might find more cost-friendly alternatives in the suburbs.
“Cities will continue to be the center of events, activities, and nightlife.”
Impacts of the Migration
Even though the suburbs may look more attractive for the day-to-day lives of families, cities will still be the epicenter of restaurants, stores, and entertainment. When restaurants and bars start opening for business again, people will be looking for ways to get to them, and public transportation authorities will have to find ways to prioritize health while continuing to offer reasonably priced transportation.
The price of apartments and townhouses may drop as people move out of the city, making it easier for first-time buyers and young people to afford places in urban areas. The prices of suburban homes may rise as they grow in popularity for people looking to get out of the city. Homes with backyards, patios, and within walking distance of shops will be in high demand as people will have an increased desire for their own outdoor spaces.
These changes won’t happen overnight, but agents should be prepared to handle this shift to help their clients find a great place to live that fits their new and ever-changing needs. Taking advantage of this opportunity will position agents in a unique spot where they will be ready to make sales and improve their business!