Has Covid-19 changed what we want from our homes?

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OK, so who’s been stuck at home, in what you thought was a spacious property, right up until Covid-19 hit?

All of a sudden we’ve got people trying to find space to be able work, study and then relax all under the 1 roof and in many cases this has not gone well.

And this has now lead to new studies finding what people are now actually craving from a home or a Principal Place of Residence (PPOR) in order to meet both their practical as well as their lifestyle needs.

Australians are increasingly prioritising spacious living and separate study areas in their next home amid COVID-19 restrictions.

The COVID-19 pandemic restrictions have significantly changed home ownership goals and what Australians want most in their next home, according to new research.

The research by major bank Westpac has found that with more Australians working from home and juggling school and family commitments under one roof, spacious living is now the top priority.

RemoteThe survey of 1,176 Australians aged 18 and over has revealed that 34 per cent of all respondents want to live somewhere less populated, 31 per cent want to be closer to either parks or shops, and 20 per cent are seeking suburbs with larger properties.

Meanwhile, 27 per cent have prioritised outdoor features like a backyard, while 18 per cent want an entertainment area.

When it comes to being indoors, 20 per cent have rated having a separate study as important while 15 per cent want a larger kitchen.

It seems that Australians have been using the lockdown period during the coronavirus pandemic to re-evaluate their living space and how it would meet their future needs.

For many, staying home for an extended period has changed how we use the space we live in, whether that’s home schooling from the kitchen table or setting up a makeshift office in the lounge room, sound familiar?

Research suggests that this has started a behavioural shift in what Australians want in a home, with people now seeking more space outdoors, proximity to parks and beaches, and even larger properties.

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With respondents saying they would like a separate study in their homes, it appears that more people want their homes to cater to both their professional and personal lives.

And the governments recently announced Homebuilder grants, it’s expected more Australians will be considering a major renovation to upgrade their home to better meet their needs, or even starting a new home build to cater for their changing lifestyle.

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About

Andrew is a leading finance specialist who holds a Diploma of Financial Planning (Financial Services). With over 32 years of experience in finance, Andrew has been acknowledged by the mortgage industry with multiple awards. Visit IntuitiveFinance.Com.Au


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