The following three trends are taking place in the real estate market now. Understanding how they play into home decisions can help you:
 
    Make educated choices about priority features in a new home
    Determine how to list/market your current home for sale
    Select upgrades and remodeling projects that may mean a greater return on investment down the line
There is a huge trend in extended families phenomena
 Larger Extended Families = A Greater Need for Space
Families are growing. From multi-generational households to pets, the need for living space has increased in the last decade.
According to Generations United, one in four Americans, or 26% of the population, live in a multi-generational household. This number has grown dramatically over the last decade – almost quadrupling between the organization's 2011 and 2021 surveys. A multi-generational household, by definition, includes at least three generations. This could be a combination of grandparents, aunts and uncles, parents, children, etc. With a variety of individuals living under one roof, space is at a premium.
The number one reason sellers sold during the pandemic was to gain additional space, according to the National Association of Realtors. The pandemic served as one impetus for individuals to move into multi-generational households. By moving in together, families could take care of aging loved ones, pool their money and save on costs, and provide grown children who moved back home with more space.

We’re already into cold weather season, but it’s never too late to ensure that your house is protected in winter temperatures. We’ve pulled together some helpful tips to help you prepare for freezes, snowstorms, or other adverse conditions.
    Prepare the Inside of Your Home
Getting your home ready indoors for colder temperatures will not only keep you and your family more comfortable this winter, but also help prevent expensive, inconvenient repairs.

    Get your HVAC system ready.

It’s wise to have your heating and cooling system inspected by a professional twice a year – in the fall and in the spring – to keep everything running smoothly. Many HVAC service companies will put you on a biannual service program, so you don’t have to worry about remembering.
Clean out your chimney and fireplace.
Soot and ash from previous seasons can clog your fireplace and chimney, and create dangerous conditions that could cause a fire. Protect your family and your home by purchasing a chimney cleaning kit, or hiring a professional chimney sweep.
Take care of your pipes.
Cover any pipes that are in danger of freezing, such as those closest to your outside walls, with pipe insulation to help prevent them from bursting.

When temperatures drop drastically you can also run a slight trickle of water in each of your faucets to keep water moving and lower the chances of the pipes freezing. This is an especially important trick to remember if you lose power and heat, which increases your chances of frozen pipes.

Since the pandemic took place in our lives, we are experiencing few trends in the homebuying industry that appeared. Outdoor Features Rank High on Buyer’s Most Wanted Lists
   According to a recent article in Kiplinger(Opens in a new window), “In today's housing market, outdoor living spaces have become the most coveted outdoor home feature.” An outstanding 82% of home buyers indicate they want a patio, and 81% say they want a front porch. Both are eye-catching and offer great curb appeal. They also provide additional living space for homeowners, giving them another space to relax and enjoy being outside.

      If you have great outdoor features, such as a manicured lawn, garden beds, etc., don’t forget to showcase them with outdoor lighting. This feature also ranks high on the list of homeowner desires. Good lighting helps with presentation and the overall ambiance and enjoyment of your outdoor spaces. Best of all, it’s often relatively inexpensive to add. Kiplinger estimates the cost to install outdoor lighting at $260-$530.
No matter which stage you're at in your homeownership journey, you can learn a lot from current trends. Whether you’re looking to increase the value of your home for resale, enjoy the space you're in, or find a home that will meet your needs both now and in the future, these three trends will steer you in the right direction. Looking to learn more? Contact your Lucehhcko team members so we can help you stay informed on the latest in homeownership.