According to realestate.com.au, COVID-19 has created a significant surge in housing upgrades across the nation. With more people working from home, buyers have been willing to pay considerably more for larger properties as they reassess their lifestyle needs.
The flexibility of the work from home option is, indeed, appealing. And it looks as though it might be here to stay. That’s provided some great incentive for homeowners to upscale, giving them more space and greater functionality.
But contrary to popular belief, the above trend is not just limited to regional relocation. Online property search show buyers looking for 3+ bedroom houses and apartments. Clearly, the city folk are taking this new working arrangement seriously too.
What do the stats say?
The Australian Bureau of Statistics data shows the average number of homebuyer bedrooms has increased disproportionately to the number of occupants. 2017/18 stats reveal a 2.6 person to 3.2 bedroom ratio. This has been a rising trend for many years, but the pandemic has certainly upped the ante once more.
Workers are only too keen to claim some exclusive office space for the sake of their sanity. So, homes are requiring additional rooms.
Wanna get in on the upscale?
If you’ve been thinking about making the work-from-home thing a permanent structure in your life, you’re probably dreaming of more space. It’s no secret that trying to make client phone calls from your kitchen bench with a couple of toddlers in tow can be stressful. But maybe you simply can’t afford it. It’s definitely a big financial ask.
So, how can you make it happen?
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