Is remote working changing the real estate market? Hey there, Jenevieve Croall here with JLUX Homes Realty Group. If you’re watching this on a weekday, let’s say between 9 to 5, chances are your part of the 21% working either partially or full-time from home.And the number of people working from home is expected to nearly double over the next 5 years. How does this change affect you and the real estate market as a whole? Well, remote working is opening new options to consumers that didn’t exist before the pandemic.
The primary change is many are EXPANDING THE GEOGRAPHY OF their HOME SEARCH. Since remote work permits us to tackle our responsibilities pretty much anyplace, it’s no longer as critical to have a short drive.For this reason, many are leaving the huge urban communities and moving to more affordable or desirable areas. In some cases, buyers are looking for a new adventure and are choosing to move out of state. Being untethered by a certain location means buyers no longer need to wait until retirement to move to states with their preferred climate. Families can also look for homes in areas with lower taxes and well-rated school systems.
I’m also seeing a high demand for housing with dedicated office spaces that are private to the rest of the house. No more working from the kitchen table or in a corner nook. Homes that offer an additional bedroom or flex space are often in greater demand.And with so many people not leaving their homes as often, homebuyers are craving the outdoors. Having larger yards and outdoor living spaces can increase your quality of life as a remote worker, not to mention the sales price of your home.If you are thinking about taking advantage of remote working to buy a bigger home with the perfect home office, or are looking to save on your next purchase by moving further out from high-demand suburbs, give me a shout.
As your local real estate expert, I’m here to help you navigate all your choices and to help protect your real estate investments. And as always, we appreciate your referrals and are here to serve your friends and family too. Bye for now.