Over the past few years, the way people perceive and use their homes has undergone a significant shift. From accommodating multiple generations under one roof to transforming spaces for work, fitness, and hobbies, homeowners are placing greater value on their properties. This change is not just emotional—it’s also influencing buying and selling decisions in today’s real estate market.

Home as a Haven: Why People Value Their Homes More

According to Fannie Mae’s latest National Housing Survey, nearly half of consumers say their home has become more important to them compared to a few years ago. In contrast, only 10% feel their home is less significant. The main reasons for this shift include:

• Location Matters More Than Ever – 63% of respondents said location plays a key role in why their home is more valuable to them now. Proximity to amenities, work, and family has become a priority, especially with fluctuating housing costs making moving less feasible.

• A Sense of Security – Nearly 59% of homeowners highlighted the security and stability their home provides, particularly in uncertain economic times.

• Affordability Concerns – With home prices and mortgage rates climbing, many homeowners feel fortunate to have secured their home when they did. Some recognize they may not be able to afford the same home in today’s market.

How Homeowners Are Adapting Their Spaces

More than half of homeowners have made functional changes to their living spaces to meet evolving needs. Some of the most common adjustments include:

• Remote Work Setup – About 25% of homeowners have reconfigured a space for working from home.

• Home Fitness & Hobbies – 19% have dedicated areas for exercise or other activities.

• Gardening & Sustainability – 18% have started growing food or expanded their outdoor space.

Interestingly, these modifications have not only improved quality of life but also helped many homeowners save money. For example, eliminating a commute or a gym membership has led to extra financial benefits.

What This Means for Future Home Buying Trends

As homeowners grow more attached to their properties, the features they prioritize in a future home are shifting. The top must-haves include:

• Outdoor Living Spaces (69%)

• Extra Rooms for Hobbies or Work (61%)

• A Yard for Gardening (60%)

For renters looking to buy, these features are even more appealing. Many are willing to pay more for homes that offer convenience, flexibility, and space for multigenerational living.

The Changing Value of Homeownership

While security and lifestyle benefits have long been the main reasons people buy homes, financial benefits are becoming more significant. In 2015, only 39% of buyers cited financial gain as the top reason for homeownership. Today, that number has risen to 46%. The rapid increase in home values over the past few years has reinforced the idea that owning a home is a strong long-term investment.

What This Means for Buyers and Sellers

If you’re a homeowner, this growing demand for functional, well-located homes could mean increased property value when you decide to sell. If you’re a buyer, knowing what features are most in demand can help you make a smart investment.

Whether you’re thinking of selling, buying, or simply maximizing your current home’s potential, now is a crucial time to stay informed about market trends. Let’s talk about your next move—reach out today for expert advice on navigating Brevard County’s real estate market!

Source: Fannie Mae