by Shawn Boday | May 8, 2025 | Business, Real Estate, Real Estate Investing, Real Estate Value, Shawn Boday
As the real estate market continues to evolve, so do the preferences of today’s homebuyers. Whether driven by lifestyle changes, technological advancements, or shifting work habits, buyers now prioritize different features than they did even five years ago. Understanding these trends is essential for sellers, agents, and developers alike. Here’s a look at the top real estate features that are in high demand right now.
1. Home Offices and Flexible Workspaces
With remote and hybrid work becoming the norm for many, dedicated home office space is now a top priority. Buyers are looking for quiet, well-lit areas that can be used for work, study, or even creative pursuits. Bonus rooms, finished basements, and even insulated sheds are increasingly being marketed as flexible workspace solutions.
2. Energy Efficiency and Sustainability
Today’s buyers are more eco-conscious and cost-aware than ever before. Energy-efficient windows, appliances, and HVAC systems are highly desirable—not just for their environmental impact, but also for the potential savings on utility bills. Solar panels, smart thermostats, and LED lighting are attractive features that signal long-term value.
3. Updated Kitchens and Open Floor Plans
The kitchen remains the heart of the home, and buyers want modern, open spaces where cooking and entertaining can seamlessly coexist. Granite or quartz countertops, stainless steel appliances, walk-in pantries, and ample storage top the wish list. Open-concept designs that connect the kitchen with dining and living areas continue to be a major draw, particularly for families and social buyers.
4. Outdoor Living Spaces
Since the pandemic, outdoor space has become more important than ever. Buyers want usable yards, patios, decks, and balconies where they can relax, entertain, or garden. Features like outdoor kitchens, fire pits, pergolas, and well-maintained landscaping can set a home apart from the competition. Even small balconies or rooftop access can be appealing in urban areas.
5. Smart Home Technology
Convenience and connectivity are big selling points. Smart home features—such as keyless entry, security cameras, smart lighting, and voice-activated controls—are no longer considered luxury items. Buyers increasingly expect homes to have integrated tech that enhances comfort, safety, and energy efficiency.
6. Storage and Functional Space
Ample storage space is a must-have, especially for families. Walk-in closets, mudrooms, built-in shelving, and garage storage systems are all features that help buyers envision a clutter-free lifestyle. Homes that make efficient use of space—like under-stair storage or multi-functional furniture—also score high with buyers.
7. Move-In Ready Condition
While some buyers enjoy DIY projects, the majority prefer homes that are move-in ready. Updated bathrooms, fresh paint, new flooring, and modern fixtures all contribute to a home’s appeal. Buyers want to see a well-maintained property where they can picture themselves living without a long list of immediate improvements.
Final Thoughts
Understanding what homebuyers truly want is essential for anyone looking to sell, renovate, or invest in real estate. Today’s buyers are looking for efficiency, flexibility, comfort, and style, all rolled into one. Meeting these expectations not only helps properties sell faster but can also command higher prices in a competitive market.
by Shawn Boday | May 8, 2025 | Business, Home Buying Process, Real Estate, Real Estate Tips, Shawn Boday
One of the biggest decisions homebuyers face is whether to build a new home from the ground up or purchase an existing property. Each option comes with unique benefits, challenges, and financial implications. The right choice depends on your priorities, lifestyle, and long-term goals. Here’s a breakdown of the key factors to consider when deciding between building and buying a home.
1. Cost and Budget
Buying an existing home often comes with a lower upfront cost. You’ll have a clearer picture of what you’re paying for, and you may even have room to negotiate based on the home’s condition or time on the market. Plus, you can move in quickly, avoiding the cost of temporary housing or construction delays.
Building a home, however, can be more expensive—especially if you opt for custom features, premium materials, or an in-demand location. Costs can also fluctuate due to labor shortages, material price hikes, or weather-related delays. On the flip side, new homes may come with lower maintenance costs in the short term and modern energy-efficient systems that save money over time.
2. Customization and Personalization
If having a home tailored to your exact preferences is a priority, building may be the best choice. From layout and finishes to energy systems and smart technology, custom homes offer a high level of personalization. You’re able to create a space that truly reflects your lifestyle.
Existing homes, while more limited in customization, may still offer the chance for renovation. However, changing structural elements or systems in an older home can be costly and time-consuming.
3. Location and Lot Availability
Buying an existing home gives you access to established neighborhoods—often with mature landscaping, schools, parks, and nearby amenities. You may find that your desired location only has resale homes available, especially in urban or historic areas.
Building a home often requires finding an available lot, which may be in newer or more remote communities. This could mean longer commutes or fewer nearby services, depending on your region.
4. Timeline and Move-In Readiness
One of the biggest advantages of buying an existing home is speed. Once the paperwork is complete, you can move in almost immediately. Building a home takes time—often several months—and construction delays are common.
If your timeline is tight or you’re relocating for work or family, buying may be the more practical route.
5. Maintenance and Efficiency
New construction homes typically feature modern building codes, energy-efficient appliances, and up-to-date wiring and plumbing. You’re less likely to face major repairs in the first few years.
Older homes might require more maintenance or updates to meet current standards. However, with the right inspections and budgeting, many buyers see value in a well-built, character-filled existing home.
Final Thoughts
Both building and buying have their merits. If you want a move-in-ready home in a prime location and a faster timeline, buying may suit you best. If you’re looking for customization, long-term savings on energy and maintenance, and a brand-new feel, building could be the way to go.
Ultimately, the right decision depends on your personal preferences, financial situation, and lifestyle needs. Consulting with a real estate professional or builder can help you make the most informed choice.
by Shawn Boday | Mar 5, 2025 | Real Estate, Shawn Boday, snowboarding
Buying a home is a major financial milestone, but many buyers focus solely on the down payment and mortgage without considering the hidden costs of homeownership. These additional expenses can add up quickly and impact your long-term financial stability. Understanding these costs before making a purchase can help you make a more informed decision and avoid unexpected financial strain.
1. Property Taxes
One of the biggest ongoing expenses for homeowners is property taxes. The amount you pay depends on the assessed value of your home and local tax rates, which can vary significantly by location. Property taxes can increase over time, particularly in rapidly developing areas, so it’s crucial to budget for potential hikes.
2. Homeowners Insurance
Lenders require homeowners insurance, but even if it’s not mandatory, it’s a necessity to protect your investment. Insurance costs depend on factors like the home’s location, size, and construction, as well as the likelihood of natural disasters. Premiums can rise annually, so it’s important to factor this into your long-term budget.
3. Maintenance and Repairs
Owning a home means being responsible for all maintenance and repairs. From routine upkeep like lawn care and gutter cleaning to unexpected repairs like plumbing issues or a new roof, these costs can be unpredictable. A common rule of thumb is to set aside 1-3% of your home’s value each year for maintenance and repairs.
4. HOA Fees
If you buy a home in a community with a homeowners association (HOA), you’ll likely have monthly or annual fees. These fees cover services like landscaping, security, and community amenities but can vary widely depending on the neighborhood. Some HOAs also require special assessments for major repairs, adding an additional financial burden.
5. Utility Bills
Many first-time buyers underestimate the cost of utilities, which typically include electricity, water, gas, trash collection, and internet services. Larger homes generally have higher utility costs, and older homes may be less energy-efficient, leading to steeper monthly bills.
6. Closing Costs
Beyond the down payment, buyers must also budget for closing costs, which typically range from 2-5% of the home’s purchase price. These costs include loan origination fees, title insurance, escrow fees, and more. Many buyers overlook this expense when planning their finances.
7. Furnishing and Renovations
Moving into a new home often requires additional spending on furniture, appliances, and potential renovations. Even minor upgrades, such as painting or replacing flooring, can add thousands of dollars to your total cost.
Conclusion
Homeownership is a rewarding investment, but it comes with many hidden costs beyond the mortgage payment. By preparing for property taxes, insurance, maintenance, HOA fees, utilities, closing costs, and unexpected repairs, buyers can make smarter financial decisions and avoid costly surprises. Taking the time to understand these expenses ensures a smoother and more financially secure transition into homeownership.
by Shawn Boday | Mar 5, 2025 | Real Estate, Shawn Boday, snowboarding
In recent years, co-living spaces have emerged as a dynamic solution to the challenges of urban housing. With rising rent prices, increasing urbanization, and shifting lifestyle preferences, shared housing is gaining traction among young professionals, digital nomads, and even retirees. This modern take on communal living is reshaping urban real estate, offering affordability, convenience, and a sense of community.
What Are Co-Living Spaces?
Co-living is a form of shared housing where residents have private bedrooms but share common areas like kitchens, lounges, and workspaces. Unlike traditional roommate arrangements, co-living spaces are professionally managed, often providing amenities such as cleaning services, utilities, and social events, making them a hassle-free housing option.
Why Co-Living is Gaining Popularity
Several factors contribute to the growing appeal of co-living spaces:
- Affordability: With rent prices skyrocketing in major cities, co-living offers a cost-effective alternative. Residents pay a single, all-inclusive fee covering rent, utilities, Wi-Fi, and other perks.
- Flexibility: Unlike traditional leases, co-living spaces often come with short-term rental options, catering to digital nomads, remote workers, and those who relocate frequently.
- Built-in Community: Loneliness is a major issue in urban settings. Co-living fosters social interactions through shared spaces and organized events, creating a sense of belonging.
- Convenience: Many co-living spaces come fully furnished with modern amenities, eliminating the hassle of setting up utilities or purchasing furniture.
The Impact on Urban Real Estate
The rise of co-living is influencing the real estate market in several ways:
- Increased Demand for Shared Housing Developments: Developers are recognizing the demand for co-living and are investing in purpose-built spaces that cater to this growing trend.
- Repurposing of Existing Properties: Older apartment buildings, hotels, and office spaces are being converted into co-living hubs, maximizing urban space efficiency.
- Shifts in Rental Market Dynamics: As co-living becomes more prevalent, traditional rental markets may need to adapt by offering more flexible lease terms and additional amenities to remain competitive.
- Appeal to Investors: Co-living spaces often generate higher rental yields due to their shared nature, making them attractive investments in high-demand urban areas.
The Future of Co-Living
As urbanization continues, co-living is likely to expand, offering more tailored experiences. Some emerging trends include:
- Niche Co-Living Spaces: Designed for specific demographics like artists, entrepreneurs, or wellness-focused individuals.
- Tech-Integrated Living: Smart home features and digital platforms to enhance resident experiences.
- Sustainability Initiatives: Eco-friendly designs, energy-efficient buildings, and sustainable living practices.
Conclusion
Co-living is more than just a housing trend; it represents a shift in how people approach urban living. By prioritizing affordability, flexibility, and community, shared housing is reshaping urban real estate and providing innovative solutions to modern housing challenges. As cities continue to evolve, co-living is poised to play a significant role in the future of urban development.
by Shawn Boday | Feb 4, 2025 | Real Estate, Real Estate Tips, Shawn Boday
The tiny home movement has gained significant traction over the past decade, with many people opting for smaller, minimalist living spaces in exchange for financial freedom and sustainability. But is investing in a tiny home a wise financial decision, or is it just another passing trend?
What is the Tiny Home Movement?
The tiny home movement is centered around downsizing and simplifying one’s lifestyle. Typically ranging from 100 to 400 square feet, these homes are designed to maximize efficiency and minimize costs. Whether built on a permanent foundation or a trailer for mobility, tiny homes appeal to those looking to break free from high mortgages, reduce their carbon footprint, or embrace a more minimalist lifestyle.
Financial Benefits of Tiny Homes
One of the biggest selling points of tiny homes is affordability. Traditional homes come with hefty price tags, but tiny homes can cost anywhere from $30,000 to $100,000, depending on materials and design. This makes homeownership more accessible, especially for young professionals, retirees, and those seeking financial independence.
Other financial advantages include:
- Lower Utility Costs: With a smaller space, heating, cooling, and electricity costs are significantly lower.
- Minimal Maintenance Expenses: Less space means fewer repairs and lower maintenance costs.
- Reduced Property Taxes: Many tiny homes are classified as RVs or personal property, resulting in lower or no property tax obligations.
Challenges of Tiny Home Living
Despite the financial perks, tiny homes come with challenges that potential buyers should consider:
- Zoning and Legal Restrictions: Many cities have zoning laws that prohibit tiny homes or require them to be placed in designated communities.
- Resale Value: Unlike traditional homes, tiny homes often depreciate over time, making them a less attractive long-term investment.
- Limited Space: While minimalism is a key appeal, living in a tiny home requires significant lifestyle adjustments.
Is It a Smart Investment?
Tiny homes can be a smart investment depending on individual goals. If the primary objective is to save money, reduce living expenses, or enjoy a mobile lifestyle, a tiny home can be a great financial decision. However, if you’re looking for long-term appreciation, tiny homes may not offer the same return on investment as traditional real estate.
For those who are unsure about long-term commitment, renting a tiny home or investing in one as a vacation rental could be a lucrative alternative. The short-term rental market for unique stays is growing, and tiny homes often attract travelers seeking a one-of-a-kind experience.
Conclusion
The tiny home movement is more than just a passing trend—it’s a lifestyle choice that offers financial and environmental benefits. However, whether it’s a smart investment depends on individual priorities. If saving money and embracing minimalism are key goals, a tiny home may be the perfect fit. But for those seeking long-term property appreciation, traditional real estate might be the better choice.
Would you consider investing in a tiny home, or do you think it’s just a fad? Let us know your thoughts!
by Shawn Boday | Jan 3, 2025 | Real Estate, Real Estate Value, Shawn Boday
In today’s tech-driven world, smart home technology has become a game-changer in the real estate market. From enhancing convenience to boosting energy efficiency, connected devices are not just trendy gadgets—they’re a valuable asset that can increase a property’s appeal and market value. Here’s how smart home technology is transforming real estate and why it’s worth considering for homeowners and buyers alike.
What Is Smart Home Technology?
Smart home technology refers to internet-connected devices that allow homeowners to control and automate various aspects of their home, often via a smartphone app or voice commands. These systems include:
- Smart thermostats like Nest or Ecobee, which optimize heating and cooling for energy efficiency.
- Security systems with cameras, doorbell monitors, and motion sensors, such as Ring or Arlo.
- Lighting controls that allow users to adjust brightness and set schedules remotely.
- Voice assistants like Amazon Alexa or Google Assistant for seamless integration.
- Smart appliances, including refrigerators, ovens, and washing machines, that provide enhanced functionality and monitoring.
How Smart Home Technology Adds Value
1. Enhanced Energy Efficiency
One of the most appealing aspects of smart technology is its ability to reduce energy consumption. Devices like smart thermostats learn user preferences and adjust heating or cooling accordingly, which can lead to significant cost savings. Energy-efficient homes are highly attractive to buyers looking to lower utility bills and reduce their environmental footprint.
2. Improved Security
Smart security systems provide peace of mind by allowing homeowners to monitor their property in real-time. Features like video doorbells, remote locking systems, and motion-activated cameras are increasingly sought after in a market where safety is a top priority.
3. Convenience and Customization
Smart homes offer unparalleled convenience. Voice-activated assistants can control lighting, play music, or even order groceries, while automated systems can be tailored to fit specific lifestyles. This level of customization appeals to tech-savvy buyers who value ease of use and functionality.
4. Future-Proofing
As technology continues to evolve, homes equipped with the latest smart devices are seen as future-ready. Buyers are more likely to invest in a property that won’t require significant updates to keep up with technological trends.
5. Competitive Edge in the Market
Incorporating smart technology can differentiate a property in a crowded real estate market. Buyers often perceive such homes as modern, efficient, and luxurious, which can justify a higher asking price.
Smart Home Technology Trends in Real Estate
- Integration Overload: Buyers prefer systems that integrate multiple devices into one cohesive platform.
- Sustainability Focus: Eco-friendly technologies, like solar-powered devices, are becoming increasingly popular.
- Remote Work Adaptations: Features like smart lighting and climate control are ideal for home offices, catering to the growing remote work trend.
Tips for Sellers
If you’re considering adding smart technology to your home before selling, focus on devices that offer tangible benefits, like smart thermostats or security systems. Ensure the technology is easy to use and comes with clear instructions for buyers. Highlight these features in your listing to attract tech-savvy buyers.
Conclusion
Smart home technology is more than just a trend—it’s a valuable addition that can enhance your property’s functionality, appeal, and market value. By investing in connected devices, homeowners can enjoy immediate benefits while increasing the likelihood of a profitable sale. As the demand for tech-enabled living spaces grows, smart homes are set to redefine the future of real estate.
