The way Americans work has changed in recent years, and remote work is at the forefront of this shift. Experts say it’ll continue to be popular for years to come and project that 36.2 million Americans will be working remotely by 2025. To give you some perspective, that’s a 417% increase compared to the pre-pandemic years when there were just 7 million remote workers.
If you’re in the market to buy a home and you work remotely either full or part-time, this trend is a game-changer. It can help you overcome some of today’s affordability and housing inventory challenges.
How Remote Work Helps with Affordability
You can alter how you approach your house search if you work remotely or in a mixed environment. You might not think it’s as important to reside close to your place of employment now that you’re not making the daily commute. Your pool of cheap possibilities might expand if you’re ready to relocate a little further outside the city and into the suburbs. In a recent study, Fannie Mae explains:
“Home affordability may also be a reason why we saw an increase in remote workers’ willingness to relocate or live farther away from their workplace . . .”
If you’re thinking about moving, having this kind of location flexibility can boost your chances of finding a home that fits your budget. Work with your agent to cast a wider net that includes additional areas with a lower cost of living.
More Work Flexibility Means More Home Options
And as you broaden your search to include more affordable options, you may also find you have the chance to get more features for your money too. Given the low supply of homes for sale, finding a home that fits all your wants and needs can be challenging.
By broadening your search, you’ll give yourself more possibilities from which to chose, which makes it simpler to locate a home that actually suits your lifestyle. This can entail more spacious residences, a variety of home designs, and access to local amenities that weren’t previously available.
Living close to one’s place of employment used to be a prized luxury that frequently came with a large price tag. But the situation has altered recently. If you work from home, you are free to live wherever you choose without having to endure arduous daily journeys. This change enables you to concentrate more on locating a home that is both economical and offers the attributes of your ideal home.
Bottom Line
Remote work goes beyond job flexibility. It’s a chance to broaden your horizons in your home search. Without being bound to a fixed location, you have the freedom to explore all of your options. Let’s connect to find out how this freedom can lead you to your ideal home.
Leave a message or call me at (562) 548-8147 .