Someone just sent me a joke and I think it is worthy of sharing since this year is one for the record books (in a bad way). If 2020 was a math problem, it would go like this…….If a canoe was traveling down the river at 2 mph and lost a wheel how much pancake mix would it take to fix your roof?
Yes, this year has had its challenges but it has not stopped people from buying a home. Shelter-in-place is a term that we all know too well and has given people time to analyze their “shelter”. What was their analysis? That moving during a pandemic made good sense. Below are two of the biggest reasons to pack up and move.
- People Realized the True Value of a Home
It wasn’t just that people were “stuck” in their homes during COVID-19 and suddenly decided to buy a home. It was something deeper: Home became our “safe” place during a scary time. The work-from-home quarantine was the greatest accidental PR campaign for the value of real estate that I’ve ever witnessed. Current homeowners have been inspired to invest more into their homes (see Home Depot’s Stock price since April).
- Your Home Is Now Your Office
A large number of people suddenly found themselves working from home when shutdowns began in March. Working from the couch or kitchen table without a proper office space can be tough, especially when square footage is limited and shared with roommates, partners, kids and/or pets.
It has become clear that the work-from-home culture is here to when people realized they “can” work from home (me). Now, you need to upgrade to a home with an extra bedroom or an office. Interest rates are super low and it has made the home purchase more affordable. And there may be another financial incentive for the work-from-home buyer: When your home is also your office, a portion of your mortgage can be claimed on your taxes as a home-office deduction.
So, although the pandemic has thrown us a few curveballs this year, it has taught us that “home” is a valuable and safe place.
Equal Housing Lender.