Wednesday, November 1, 2023 / by Teresa Pileggi
5 Key Real Estate Trends to Look Out For In 2024
Although the real estate market is one of the oldest fields one can invest in, it is not immune to
shifting trends. Just like any other conventional industry, real estate has its highs and lows.
Thankfully, real estate has experienced immense growth thanks to its ever-increasing demands.
Whether you want to invest in a commercial or a residential property, there is a need for you to
note the various trends that are already affecting this market at the moment. After all, these
trends will, in one way or another, affect the real estate rising trajectory. Some of the trends to
watch out for in 2024 include:
1. House hunting has been digitized
Gone and never to come are those days when people used to house hunt the brick-and-mortar
way. Since the advent of the COVID-19 pandemic, most sectors have been digitized. Real estate
was not an exception.
As we speak, buyers can now conduct virtual tours of various properties before they decide
which one to buy and the one they can let go. Thankfully, most real estate companies have now
started to appreciate the importance of 3D home tour videos, virtual staging, and so much more.
Additionally, getting a mortgage completed digitally. This has made it easier for buyers to access
and sign documents from the comfort of their homes.
2. Video marketing is on the rise
Apart from just taking photos of various properties, most real estate companies are now taking
videos of such units and then posting them on their social media platforms. From Facebook to
TikTok, there is an array of platforms where these companies are posting properties in a bid to attract
The good news is that most people have social media accounts and thus will be able to see those
properties as and when they get posted. As long as your video is convincing enough, trust that
you will always get more prospective home buyers interested in your current offers.
4. Virtual renovations
Anytime you choose to purchase a home, there are two main factors that you are likely to
consider. These include your emotions and finances. To put this into perspective, you intend to
see if your preferred home or property will fit your budget. Also, you would like to establish if
your desired property will feel like a home.
To achieve this, you are likely to make a few changes to your home in order to suit your needs.
With the current advanced technology, it is possible to visualize everybody’s dream home,
thanks to virtual renovations. This goes a long way in eliminating the need for you to imagine
that you are in someone’s home. Instead, you will be swept away by the way your desired home
could be in the event you own it.
5. Risk-buying options are on the rise
When it comes to owning a property, there are some options that can help you get started. To
start with, you can consider the rent-to-own option. Unlike other conventional options, this one is
ideal for those who want to own a property but are operating on a tight budget.
Here, you will have to rent your property for several months or years before you actually own it.
This option is ideal for those who might not qualify for a mortgage right away. However, this
option can be expensive in the long run.
Besides the rent-to-own option, you can consider taking a personal loan in order to make a down
payment. Although this can work well at first, it might still be expensive as you will still pay
more in the form of interest and fees. To be on the safe side, you should look for a financial
institution that offers a good interest rate on various loans so that you can get value for your
Whether you want to sell or purchase a property in the real estate market, there is a need for you
to be aware of the trends mentioned above. By considering these trends, you will not only get
value for your money but also remain competitive as an investor, as you will always be ahead of
the game. Since these trends keep on changing, brace yourself to deal with new realities every
now and then. As long as you are open-minded, you will get the most out of the real estate