2020 in Review: End-of-Year Real Estate Buying Lessons to Take into 2021

2020 has been a roller coaster ride for the real estate industry. The coronavirus pandemic was a defining event that ushered in a new normal for the sector. Although it carried a lot of challenges, the shift also gave way to home buyers rethinking their priorities. In a nutshell, people are looking for a home where they can be safe and well during global emergencies, on top of the usual considerations.

If you’re looking to get your own place next year, let the new normal guide you in listing down your home must-haves. Refer to these real estate buying lessons as you start planning your house hunt on online platforms:

Provincial Cities Are Worth Exploring

Most of the popular cities that emerged this year are provincial cities, including those in Southern and Central Luzon, namely Lipa, Calamba, Sta. Rosa, General Trias, and Angeles. Given the pandemic, people may have looked for locations that offer wide, open spaces where they can observe distancing with ease. 

It’s also possible that they’re looking for more affordable residential options, considering the economic disruption the health crisis brought. As you know, property prices outside the capital region are relatively more budget-friendly.

Prioritize your health and finances this coming year by including provincial cities in your address choices. These residential areas have seen great developments in the last few years that you will for sure find opportunities that suit your career vision. 

Mixed-Use Estates Offer Convenience (and Safety)

Living in a township is convenient, and especially beneficial in times of emergencies. If you need to buy grocery goods or medicines, you can easily walk or bike to the supermarket or drugstore near your condo building. This short distance makes a difference in the time you’re spending outdoors at risk at a time of health crisis. 

Even in provincial cities, you can find mixed-use estates. When visiting these communities, try to gauge how long it takes to get to the nearest essential establishments. See which one gives the best convenience for you and your family. You may find Pag-IBIG housing acquired assets in these townships, which may give you huge savings.

Property Management Should Be Responsive

Aside from the location and community you live in, the property management that takes care of you should be ready for crises. In this pandemic age, they should prioritize your health. When visiting condo buildings or subdivisions, take note of the maintenance services the management offers. 

Do they have safety protocols in the lobby? How frequently do they sanitize common areas, especially elevators? What’s their action plan for residents who get sick? These are the questions you might want to ask your property manager.

Home Features Must Accommodate Work-Life Balance

Work-from-home is here to stay. Even as companies reopen or expand their capacities next year, remote work will be part of the employees’ life moving forward. That’s why it’s important to have a home that supports work-life balance. Below are some features you should watch out for when looking at new houses or Pag-IBIG housing acquired assets:

  • Dedicated or flexible living spaces. Work-life balance is easier when there are areas designated for work and recreation. If possible, find a home that has a home office, and a “hobby” space, such as a big kitchen for your baking and cooking sessions or a backyard for gardening or entertaining a few guests. If you’re planning to buy a condo unit, your space should at least be flexible. It should be able to give you a workspace by day and a recreation area by night.
  • Stable internet connection. Since you’ll be doing a lot of work in your home, connectivity amenities should be part of your buying must-haves. You must have a good internet connection that allows you to attend virtual meetings.
  • Storage solutions. Wardrobe cabinets were among the top-searched amenities on the Lamudi platform this 2020. With everything happening at home, a lot of people look for homes that would help them organize their stuff, especially those who are planning to go for studio type condo floor plans. Built-in storage solutions allow you to maximize a small space.
  • Smart features. Appliances and fixtures that can connect to the internet and be managed by a smartphone are essentials in the time where you’re busy all the time at home. If you can find a home in Lamudi that offers these, make the appointment to see it right away.

2020 has been an extremely challenging year, but it’s a time of rethinking what we really need in a home. As you welcome the new year, take these lessons with you when finding the place that would keep you safe through and through. Here’s to finding your home sweet home in 2021.

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