As a result of the COVID-19 pandemic, many things have changed from the day-to-day lifestyle that we’ve all come to know. People are finding themselves spending more time in their home now more than ever. In fact, it’s been estimated that Americans are spending approximately nine hours a day more at home than ever before. This surge of time spent at home has brought with it a shift in what home owners are looking for when it comes to purchasing residential real estate. This phenomenon has become known as the “Great Re-Shuffling,” in which homeowners are now looking for homes that are more aligned with their new way of living.
More and more people are putting a heavier emphasis on homes that will provide them with adequate space, extra rooms such as dens, offices, guest suites, and luxury accommodations or newly-renovated features that they’ll gain great use of including rec rooms and pools. They’re also moving out of cities and migrating to the suburbs where they can get more for their money. Those that have put off buying their second or retirement home, are now moving forward with those plans.
What Is the State of the Market?
Despite fears that the pandemic would bring along with it a crisis for the residential real estate market, the opposite has taken place. The residential real estate market, both locally and nationally, has not taken the hit that people expected. Rather, it has remained robust despite the current state of living. Licensed Florida Realtor and Broker/Owner of First Coast Sotheby’s International Realty in downtown St. Augustine, located in St. Johns County, Florida, Joe Hatin, stated, “I was surprised by the result, but the market is going strong.”
Interest rates are also at an all-time low. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88 percent in August 2020. It seems that people are moving away from urban centers for more space or an additional space. As a result, buying a new home or a second home is driving this Great Reshuffle.
What Are Buyers Looking For?
With the heavy shift of people working from home and children participating in virtual learning, the need for extra space has drastically increased. Buyers are looking for homes that will provide them with additional space, comfortability, and luxury or upgraded features due to the influx of time they will be spending in their new space. According to Joe, “Buyers are more interested in homes that include a den, or extra living space, an area that could be used as a home office, and pools have become quite popular.” He continued, “Renovations and luxury features have also made a great deal of significance. Buyers are more focused on purchasing a home that has value and will hold value. Chris [owner of MasterCraft Builder Group], puts a lot of thought into the homes that MasterCraft builds, and it shows.”
Location, Location, Location
Of course, when buying a new home, location must be considered. And with the change of pace that we’ve seen amidst the pandemic, more and more people are working from home, which means less commuting. Thus, the need to be in a big city has dwindled. “People are looking for homes in areas that are safe, crime scores need to be low, but the walking score still plays a big role,” Hatin explained. “People still want to be able to get out and socialize.” Luckily, MasterCraft Builder Group builds homes in communities that not only offer plenty of amenities to be enjoyed within the community, but each neighborhood is also conveniently located between the metropolitan areas of Jacksonville and historic St. Augustine, so residents can enjoy access to arts and culture and other perks that come along with being close to cities.
MasterCraft Is Here to Help
MasterCraft Builder Group knows how important choosing a new home is, and that’s why they ensure quality with everything they do. At MasterCraft, choice, craftsmanship, community, and customer service are always at the forefront. MasterCraft wants to provide you with a home that was carefully-crafted with your needs in mind. With a greater emphasis being placed on extra space and luxury features, MasterCraft is here to provide you with everything you’re looking for in your next home, promising Higher Standards 2.0 with each custom home. You’ll always know that your home was crafted using only the most innovative building techniques and durable materials that will grow with your family home over time.
With the summer surge in homebuyers looking for homes with additional space as well as second homes, MasterCraft Builder Group offers a variety of floorplans ranging from 1,500 to over 5,000 square feet. We know that each home we craft is built with families in mind, and with more and more families spending time at home these days, that may mean more or less space depending on your lifestyle. MasterCraft floorplans were designed with buyers needs in mind, so you can choose a home that was made for you. Whether you’re looking for a home office, a rec room, or need a pool in your backyard, we have floorplans for you. MasterCraft offers over six different floorplans in every community that they build in, with at least three elevations for each floor plan so you can customize your home the way you want. MasterCraft doesn’t believe in “cookie-cutter” homes, they will work with you on personalized plans such as moving walls or adding bathrooms because your home should be exactly what you want.
MasterCraft Builder Group is community-oriented, which is why each home they build is in a community that offers residents plentiful amenities as well as the flexibility to enjoy nearby cities such as Jacksonville and St. Augustine. MasterCraft offers homes in a variety of communities including ShearWater, TrailMark, RiverTown, and Madeira. Each community has their own array of amenities so you can love where you live, all of the time.
To learn more about MasterCraft Builder Group’s homes or explore communities, visit mastercraftbuildergroup.com
