Why is now a good time to sell?
Hilton Head Real Estate Blog
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Buyer activity was the leader again in 2020. With mortgage interest rates setting record lows multiple times throughout the year and a strong drive by many buyers to secure a better housing situation – in part due to the new realities brought on by COVID-19 – many segments of the market experienced a multiple-offer frenzy not seen in the last 15 years or more. To view the report for year ending 2020, click here.
Even before the pandemic, the work-from-home trend was growing in popularity. Improved technology and connectivity are allowing people to be more productive at home as employers have offered greater flexibility. But now that COVID-19 has made working from home even more prevalent—coupled with students learning online—many families are finding themselves crowded around the kitchen table or staking out various nooks to accomplish tasks on their laptops or tablets.
Mary Cook, founder of a Chicago-based commercial interior design firm, Mary Cook Associates, has experienced this challenge firsthand. She took the dining room table for her office in her suburban house; one of her three children claimed the sitting area in the parents’ suite, another picked the furnished basement, and the third chose a table in the family room. Fortunately, Cook’s husband is retired and so doesn’t need to compete for working space.
The finagling has made real estate professionals note the need for more functional, designated work-from-home solutions. This has led to the creation of home offices using two techniques: reconfiguring existing spaces or adding new square footage. These new home office designs vary in size and location—some near the main living space or bedrooms, others in basements or attics. There’s also the trend of outdoor accessory dwelling units if the plot size and local building codes permit them.
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