In Bakersfield, we have seen an influx of people who are moving to the area for many different reasons, but the question becomes, “Why are you purchasing a home in Bakersfield during a pandemic when we know that nothing is certain?”
Home Buyers Reasons For Moving
Have you ever lived in a space that you felt tight in? You may be able to get yourself to be comfortable in a situation like this, but over time I have realized that people want more space. In fact, in a recent survey almost 44% of home buyers are moving because they want more space. Because of the current situation with COVID people are also able to work from home, and with no end in sight currently, a lot of people are looking to the suburbs or places like Bakersfield to make their move and have their money go further on their next home purchase.
Home Buyers Would Rather Own Than Rent
Another major reason that people are moving, almost 41% cited that they would like to purchase a home instead of rent. This is definitely understandable because given the current situation with COVID, if you are able to pay off your house, then you have a place that you can live without having to worry about whether the rents will keep going up or you will be able to keep your place, or if your Landlord will fix the things that need fixing around the rental property.
City Vs. Suburbs? Is Being In The Center All That Important?
The third top reason for people moving right now is to get out of the city and move to the suburbs. Without people having to be so stuck to the location that they work in, people are now realizing that their money will go a lot further in places outside of where they live and that is attractive to people. Not having to live paycheck to paycheck, not having to be stuck inside your apartment that is too small for week/months on end, and being able to control the future of your living situation are all very important factors in the comfort that a life can have, and with the decentralization of work, I believe that people will start moving back out of the cities and more into affordable places that they feel comfortable living in, versus trying to keep up with the Joneses.
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Synergy Real Estate & Property Management
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