Changing Housing Needs During COVID-19
To quote the Master of Ceremonies of the 2020 American Cancer Society’s Black and White Gala, “I don’t know about you, but I sure am ready for some precedented times.” To call 2020 an adjustment or an inconvenience simply doesn’t begin to cover it. To say that employers and employees alike have had to pivot or re-calibrate to adjust to a post COVID-19 world is almost absurdly understated. The pandemic has changed just nearly everything about the way we work, learn, play and live, and the real estate market predictably reflects these changes. With inventory and mortgage rates both at record lows, one thing is clear. People are rethinking what it means to simply “be at home.”
It may be hard to put your finger on it, but the house that was perfect for you and your family even a few short years ago can suddenly feel very claustrophobic when mom and dad are both working from home and school aged children are having to conduct Zoom meetings with classmates and teachers. Some families have even elected to fully home school their children. With COVID-19 in the foreground of our daily lives, the three bed, two and a half bath Acadian style house with the small and manageable yard can suddenly feel like a college dorm room where no one has space or privacy.
While we all dream about not having to go to the office and life being one eternal weekend, perhaps you never considered what being at home all day would look like in reality. With economic uncertainty and restaurants being at limited capacity, maybe you are spending a lot more time in the kitchen since COVID-19 began. With Hurricane Laura demolishing much of Western Louisiana, maybe you find yourself in a position to have friends or family stay with you while they are rebuilding their towns and cities. Maybe you are spending more time outside, and you realize that your yard could really use a swimming pool to beat the blistering end of summer heat.
With COVID-19, our collective situation has changed drastically, and it makes sense that your housing needs would change along with it. This is an excellent time to buy or build a house. You and your family may even consider moving to the more suburban parts of Acadiana with a rural development loan that would allow you to have little to no down payment and a little more space to spend your downtime. Call Brittany Fitch at Intertrust Mortgage today to speak to a local lender with over 20 years of experience serving Acadiana homebuyers.
