Why life after COVID-19 will influence the types of properties people want

Why life after COVID-19 will influence the types of properties people want
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When we do finally emerge from a lengthy lockdown, many of us will reconsider what type of life we want to live in the post-covid-19 world.It would not be unrealistic that people will reconsider the way they live, the way they value their own time, how much they consume, building up their savings, capping their spending & many will choose to live life with more self-sufficiency.


These decisions will also play a bigger part as to the types of properties they will want to rent & buy.

Gardens


Many sources of information available on the internet agree that having a garden typically adds between 5% – 20% to the value of a property and perhaps after a lengthy lockdown, people will put an even higher value on what people consider their “safe zones” which offer them privacy and security. The features which people seem to value the most are sheds, good quality patios/paving, secure fencing, side access, sturdy decking, water features/ponds, walls and gates, non-overlooked gardens, gardens which back onto fields, well-designed garden furniture and unsurprisingly south facing views are all things which people seem to value the most.

Garages


If you have a garage, your car/motorbike premiums will be greatly reduced as opposed to street or driveway parking – this is a no brainer as people will want to find ways to save. If you choose not to park a vehicle in the garage it can be a fantastic place for storage, which is not as cheap as it once was if you choose to put your belongings in a storage facility. If the “storage” is on-site next to their property – even better, people will want this. Another trend to watch out for since all of the gyms are closed is that some may choose to convert their garages into home gyms with everything they need at home, again saving them money in the long term -having this external space is great as it gives you options. Some may convert garages into extra living spaces or as a home office – a typical garage conversion into a room cost circa £10,000 to complete.It seems that people will spend more time at home than they did pre covid-19 because it means they can save money which will be important to the public as the scars of our recent harrowing experience lasts much longer than the lockdown itself.Having a garage can add between 5-10% to the value of a property. The closer you are to London, the higher the premium.

Flats vs Houses


As more people will get used to working from home and some thriving from it, giving them back time so they can spend it with their families, some may decide to pick more rural locations where they can make their own vegetable patch’s, maybe some even opting into looking at their own generators to help with their dream of independence. Buying more rural offers better value for money away from large cities. Many apartments do come with balconies/private patios for which I am sure they are grateful especially in the current times. Some apartment complexes have communal grounds which are often nice – however, some apartments have neither. It is these types of that do not offer options nor flexibility and for that reason, the house (and not the flat) will once again emerge as the crown jewel of the property.

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