Welcome to 2024, and congratulations on being in the market for a new home. How we live and work is changing, and the real estate industry is no exception. Thankfully, we’ll have more opportunities to customize our homes to fit our lifestyles.
While it isn’t always easy to predict what trends will dominate in the upcoming years, we can confidently say that real estate will look very different than it does today.
Here are our predictions for some interesting real estate trends 2024 and how residential spaces will change in the next few years. We will also provide some sage tips about preparing your home for future buyers and ensuring you get the most out of your investment.
So are you ready? Let’s go.
Real Estate Trends 2024 – Predictions for the upcoming year
Green living will go mainstream.
Greater awareness of sustainability and healthy living will become a mainstream trend. In 2024, green living will no longer be a niche market for the environmentally conscious; it will go mainstream. Green building practices will be the new normal in residential and commercial buildings across North America.
Homes will be smaller.
You may have heard that in 2024, homes will be smaller. This is true and can be possible for many reasons; smaller homes are more affordable, making them available to more people and allowing families to live in nicer neighborhoods without breaking the bank.
Additionally, tiny homes are less expensive to heat and cool, saving energy and money on utility bills, so people tend to shift their mindset toward smaller homes in 2024.
Virtual reality and augmented reality will change the way we buy real estate.
While the real estate market slumps, virtual and augmented reality will be one of the few exceptions to this trend. As a buyer, you can now see a home in a new way. For example, you can see how it will look in different lighting, seasons, and weather conditions. You can also visualize how it will look with different furniture or color schemes.
Virtual reality offers great benefits for sellers too. Brokers are and will be using VR tours to showcase homes to potential buyers who may not be able to visit them in person—a great way for sellers to get their properties noticed by buyers across the globe!
Smart homes will become more common than ever.
Smart homes, the idea of a home that can be controlled by voice commands and mobile devices to perform tasks like turning on lights, adjusting temperature, and more, are becoming more common.
Smart home technology is becoming more affordable, which will cause it to become even more commonplace in 2024.
We may experience a shift from urban to suburban life.
The search for more sustainable living spaces is already evident in the movement toward smaller, high-density living.
In addition, many people have begun to favor properties closer to nature and offer them a view of the greenery outside their windows.
As we become even more connected through the internet and social media, it’s possible that people will want homes that allow them greater access to both information and one another.
Staging Tips
Make your house energy efficient.
Insulate your house by adding insulation in the attic and around windows, doors, and other areas that don’t have any. To save money, you can put up reflective bubble wrap on the exterior walls of your home to help reduce heat loss from the outside. Install a programmable thermostat to control the temperature of your house remotely.
Spruce up your home’s exterior with a fresh coat of paint.
Paint your home in a neutral color. The first thing that most people see of a house is its exterior, so you want to ensure it is clean and well-kept with no peeling paint or discolored wood. Painting your house a neutral color can give it a timeless appeal and help it last longer than fancier colors might.
Fix your driveway.
One of the most effective home improvements you can make is repairing and beautifying your driveway.
It’s not just an upgrade that will increase curb appeal and make a great first impression on potential buyers; it also has real monetary value. A nice-looking paved driveway indicates pride in ownership, while a cracked or uneven one shows neglect.
Add more living space.
Add a deck or patio. It will give you more living space and help increase your home’s value by connecting with the outdoors, which can be especially important if you live in an area where outdoor activities are popular.
Add a sunroom or basement conversion that will give you another room in the house while retaining some of the outside-like feels converting part of your basement into usable space is an easy way to add value without spending too much money on construction materials and labor costs.
All-inclusive
We’re excited to see what the real estate industry will look like in 2024. It’s clear that many of these trends are already happening, but it remains to be seen how quickly they will take hold.
We hope this article has given you a better understanding of what some of those changes might be like and ways to stay ahead of them!
