Wednesday, July 28, 2021

Real estate trends: Transformations, growth and the path ahead

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Even though the real estate sector has gone through a roller coaster ride in recent times, it has managed to bounce back faster than expected. While increasing buyer demand, soaring home values, and lowest mortgage rates are the recent changes in the housing industry, here are a few other real estate trends you have to watch for.

1. The Desire For Dedicated Work Areas
The Coronavirus pandemic has forced people to work from home. Though it was believed to last for a couple of months, many people are working from home even after a year. Since remote working is expected to continue for a long time, many people are looking for dedicated quiet areas to work and study.

Owing to the trend, several Discovery Ridge real estate Calgary developers have started offering houses with common spaces to work, dedicated areas for parcel and grocery deliveries, video conferencing rooms, advanced amenities, etc.

2. Small And Better Houses
The demand for small houses is growing day by day. Many buyers, especially the mid-income ones, are looking for small but well-equipped and efficient houses over big properties.

Some of the parameters that contribute to the increasing popularity of small houses include lower maintenance, desire for a debt-free life, eco-friendliness, efficiency, and opportunities for lifestyle improvements.

3. Demand For Sustainable Home Design
With the global need to protect the earth and its resources, demand for sustainable home design is rising and expected to soar. With the exposure to world-class infrastructures and standards, home buyers are looking for modern interiors with access to natural sunlight, clean air, and other eco-friendly aspects.

To cater to the needs of homebuyers, Discovery Ridge real estate Calgary developers are exploring ways to embed green initiatives within the residential properties like heightened windows, installing double, growing plants on walls, and water harvesting.

4. Mobile Apps
Due to the increase in the number of people using smartphones and the internet, real estate developers are opting for online listing and creating custom-made mobile apps to connect with potential customers.

Mobile apps allow customers to access information at any time from anywhere. On the other hand, they allow real estate developers to collaborate with their customers easily and save resources.

5. Virtual Reality
Virtual Reality (VR) technology is gaining momentum in the real estate sector. Virtual staging and tours benefit both real estate developers and potential buyers. It allows Discovery Ridge real estate Calgary developers to show fully furnished rooms to the potential buyers, despite rooms being empty in reality. This cuts down the money spent on marketing the properties.

On the other hand, it allows potential buyers to tour the properties multiple times without visiting them in person, saving their time and travel costs.

Other trends include, foreign investments, suburban migration, and ready-to-move properties.

Closing Thoughts
With the ongoing trends and increased housing demand, let’s wait to see how the real estate sector evolves in the future. If you want to have more information on this topic, feel free to visit, https://rarebuilt.ca/

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