Trends in Real Estate To Watch This Summer
The real estate industry has been volatile in recent years. We have seen some drastic changes in the property management industry in the 2020s. Property investors and buyers want to be prepared in the best way possible. Therefore, it’s important to watch out for real estate trends.
The pandemic crisis has affected the economy greatly and the real estate industry has suffered from the consequences. If you wish to stand out from competitive businesses, you need to learn as much about the market and what to expect as possible.
Here are some key factors and major trends in real estate to watch this summer in South Florida.
We live in a world where everything is done online. People spend most of their time on the internet, scrolling through social media. Therefore, businesses use digital marketing as the number one advertising tool.
Although digital marketing has been popular since the 2010s, the global pandemic caused consumers to get used to working, shopping, and communicating online. Nowadays, nearly everything is done online.
If you are a property investor in South Florida, your best shot at getting your properties to reach an audience is marketing them via social media. Creating vertical video tours on TikTok and Instagram is one of the most effective ways to gain a following. Social media advertising also helps you reach your target audience, you can download the business software of Facebook and control and review your advertisements on social media platforms.
South Florida is going to be packed with tourists and families on vacation during summer. You need to stand out from the competition and make sure that your accommodation is booked all summer.
Property managers have learned that you must have a strong social media presence to reach young clients. Creating a professional website for your business is also very helpful. A polished website makes a business seem more prestigious, presentable, and trustworthy.
Green has become quite a popular color in recent years. Firstly, because green furniture and decorations are very trendy, but also because people have started to care more about the environment. The pandemic panic pushed people to care more about the planet and its health. Therefore, most people, especially young adults, are looking for properties that are built on eco-friendly materials.
Whether you flip houses, own vacation rentals, or rent out properties monthly, using eco-friendly materials for remodeling, cleaning, and maintenance is very important. You can reduce your carbon footprint using solar energy, natural gas, natural cleaning products, bamboo materials, etc.
Everything is digital nowadays. You can close the blinds, turn up the heating, and lock the doors using electric devices without getting up from the couch. High-tech innovations significantly increase property value.
If you are thinking of getting on board with the real estate trends for the summer of 2023, get more familiar with smart home systems. Installing smart home features is going to give you a great advantage compared to the competition.
You can create a smart home by installing some of these features:
- Smart Heating
- Smart Lighting
- Security System
- Smart Entertainment
These features make your home more luxurious, expensive, convenient, and comfortable.
Suburbs Over Cities
Suburbs tend to be more affordable than crowded parts of cities. As the global pandemic had a great impact on the economy and its changes worldwide, homeowners have started to make changes to their lifestyles.
Suburbs are more affordable, you can find bigger properties, and the neighborhoods are much more peaceful than in the cities. Since many people started to work from home, they prefer quiet neighborhoods and bigger living spaces.
When you work from home, you constantly look at the same walls of your home, therefore, it’s logical that people who work from home would like to have big spaces in their homes and multiple large rooms.
Suburbs are also much safer than cities for families. Parents choose suburbs to give their kids opportunities to play outside often. Families also prefer neighborhoods with schools within walking distance, daycare centers, and parks. Suburbs often provide residents with these features.
Unique Vacation Rentals
As a property investor, it’s wise to remember that consumers prefer to book aesthetically pleasing, original vacation rentals. Millennials mostly prefer housing with picturesque environments for their vacations to create beautiful social media posts.
Creating unique and attractive interior and exterior designs for your property will get you better reviews, and the demand will rise. Summer is already at the door and people are getting ready for fun and original experiences.
Waterfront views and a summery feeling in your property will make consumers want to visit your property. South Florida is an excellent place to enjoy the hot weather and beaches. Therefore, you should take advantage of the environment. Palm tree posters, tables on the terrace to enjoy breakfast in the sunlight, and floral decorations will get visitors excited.
A unique vacation rental is always more desirable than basic accommodations with similar rooms. Therefore, you can increase demand for your property by designing beautiful furniture and trendy decorations.