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Even though most of the cities in the country are now under relaxed community quarantine protocols, what you can do outside as a property investor is still limited and restricted. You can’t meet brokers in coffee shops just yet, and talk at length about your investment options, let alone go to open houses. Despite this, there’s much that you can do. That is, in terms of planning and foresight. At home, you can spend time researching the industry, monitoring trends, and getting a feel of the market. In other words, you can help yourself ease into the new normal.
One preparation you should be doing now is keeping an eye on real estate listings that have leisure and entertainment spaces. Here’s why:
Seekers Will Prioritize Social Spaces
The coronavirus pandemic has changed the way people look at homes. Aside from the fact that they became more aware of the refuge their residence provides, they also understood that it can only give so much. Cooped up at home, only finding leisure in shifting work stations from the bedroom to the kitchen counter, one would feel the terrible symptoms of cabin fever.
This is why in the post-pandemic era, people will be keen on finding homes that provide relief from isolation, but will also keep them safe from potential infectious diseases. Seekers will look for properties that offer access to social spaces, vast and open, allowing natural social distancing.
Prior to the community quarantine, the swimming pool has been a top-searched amenity among Lamudi seekers. Post-pandemic, it’s likely to be filed under necessities in homebuying checklists. Responding to this expected demand, here are some tips when you look for potential income properties:
- Consider what kinds of amenities are featured in the neighborhood. Some of the things you should look for are a swimming pool, spa, gym, mini gardens, and jogging paths.
- See if there’s enough room in the facilities for social distancing. Airy spaces are ideal. Seating in pools and decks should have a decent distance from each other to guide the public.
- Determine how proactive the property management is in maintaining the facilities. Do they conduct routine inspections? Are sanitation protocols observed?
People Will Travel Locally More
Tourism is among the industries that were hit pretty bad by the health crisis. But the trend experts are seeing now is that as people grow more cautious about international travels, they will opt for local trips instead. This again increases the demand for leisure and entertainment spaces, only this time, in tourist hotspots.
That said, be on the lookout for rental properties in the country’s travel destinations, which you can lease for a transient set up. Here are some things to remember:
- Go for less-frequently-visited locations. Tourists are more likely to explore lesser-known hotspots, since they would want to avoid huge crowds.
- If you’re keen on investing in real estate in top attractions, make sure that the property developer exercises stringent disinfection procedures in the premises, especially the leisure and entertainment areas people will frequent.
Professionals Grow More Conscious About Mental Health
When cities were placed under enhanced community quarantine, a lot of businesses provided accommodations for their staff near their offices. This helped employees go to work even with the suspension of public transport, as it also reduced time outdoors and the risk for catching diseases.
Most enterprises chose co-living spaces in housing employees. Aside from their prime locations, these vertical villages are popular for the atmosphere of community and fellowship they create, made possible by leisure and entertainment amenities. As a result, the employees not only avoided transportation woes and infection risk, but also isolation blues, while away from their families.
It’s likely that professionals will flock to co-living spaces, having experienced its perks. There’s also a possibility that some businesses would consider corporate housing more seriously, as they care more about their employees’ psychological well-being. That said, co-living spaces should be at the top of your investment options post-pandemic.
Even though you’re stuck at home, there’s a lot of meaningful activities you can do, in terms of growing your investment portfolio. Learn more about the industry. Know about the market’s new preferences. Plan well for the new normal.