NEXT CHAPTER CONSUMERS
The year 2020 may have accelerated many trends, but the one thing it DEFINITELY instilled into the psyche of the consumer is the realization that life is not forever and that procrastination usually does not produce much in the way of different solutions or 'better timing'. 2021 is revealing a new sense of urgency amongst consumers, especially as it relates to the next chapter of their home needs. Here are some other trends that accelerated:
1. The desire for more space either for home offices, but as much for the expansion of the NESTING trend. Home has become a much more significant HUB in people's lives and has to accommodate much more than a bedroom, kitchen, and living room. Expanding families or those bringing elderly parents home need and want more space. And they are not that willing to share space with strangers or neighbors.
2. Babyboomer empty nesters are in a position to sell their large homes that for some time were going out of style, viewed by many as being too large. These Babyboomers are now ready for their next stage in life without kids at home. They often are drawn to warmer climates, lower tax environments, places not as reliant on strong education institutions, and places where there is more life, activity, and fun.....including large cities.
3. All demographics are adjusting faster to our digital tech world. Homes are becoming more tech-efficient and more capable of accommodating more delivered products.
4. Procrastination has been inventory's best friend for years.....till now. As consumers cut back on hesitating, the realization that we have been grossly under-building has been fully revealed and shortages of housing are causing prices to rise.
5. The next chapter consumer is EXTREMELY reliant on what they see online. Most will do a SIGNIFICANT evaluation and search online prior to any physical viewing. Any agent who thinks they can show anything less than exquisite, comprehensive imagery online - or anywhere - is bound for extinction.
6. Security and safety requirements have been magnified. Home has to deliver on these fronts. Additional staging items may be the addition of security cameras and other tech features that give a sense of security.
7. Suburban living works. Often it is not forever. Often it is relative to kids and schooling. The suburbs are back....but they never really left either!
ALL human beings are probably more aware now than ever that ALL eight billion of us on this planet have two things in common:
1. ALL of us need shelter, and.....
2. ALL of us are getting older. No-one is immune to aging, whether it's a student becoming a worker, a single getting married or starting a family, parents waving goodbye to kids as they head off to college and then retirement. Acknowledging and responding swiftly to your moment in the cycle of life can be very helpful in getting on with it!
