A lot has changed over the past year. For many people, the rise in remote work has influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and made the space they already had work for them.
But recent headlines indicate working from home isn’t a passing fad.
If you’re still longing for a dedicated home office, now may be the time to find the home that addresses your evolving needs. More and more companies are delaying their plans to return to the office – others are deciding to remain fully remote permanently.
According to economists from Goldman Sachs in a recent article from CNN: “Job ads increasingly offer remote work and surveys indicate that both workers and employers expect work from home to remain much more common than before the pandemic.”
Other experts agree. A survey conducted by Upwork of 1,000 hiring managers found that due to the pandemic, companies were planning more remote work now and in the years to come.
According to Upwork: “The number of remote workers in the next five years is expected to be nearly double what it was before Covid-19. By 2025, 36.2 million Americans will be remote, an increase of 16.8 million people from pre-pandemic rates.”
How Does This Impact Homeowners?
If you own your home, it’s important to realize that continued remote work may give you opportunities you didn’t realize you had. Since you don’t need to be tied to a specific area for your job, you have more flexibility when it comes to where you can live. Moving to vacation areas like Cape Cod could be an option now, instead later when you retire. We’ve worked with many client over the last 12 months who have done just that.
If you’re one of the nearly 23% of workers who will remain 100% remote:
You have the opportunity to move to a lower cost-of-living area or to the location of your dreams. If you search for a home in a more affordable area, you’ll be able to get more home for your money, freeing up more options for your dedicated office space and additional breathing room.
You could also move to a location where you’ve always wanted to live – somewhere near the beach, the mountains, or simply a market that features the kind of weather and community amenities you’re looking for. Without your job tying you to a specific location, you’re bound to find your ideal spot.
If you’re one of the almost 15% of individuals who will have a partially remote or hybrid schedule:
Relocating within your local area to a home that’s further away from your office could be a great choice. Since you won’t be going in to work every day, a slightly longer commute from a more suburban or rural neighborhood may be a worthy trade-off for a home with more features, space, or comforts.
We’ve seen these changes in our own family. Hank’s brother, whose company continues to push back return to the office deadlines, recently purchase a larger home with office space for both him and his wife. Our nephew, who lives in Michigan, just started a job for a Boston-based company that’s giving him the flexibility to work in the office or remotely, as he needs to.
If ongoing remote work is changing what you need in a home, or if you’re still living in a house that’s too big with closed off bedrooms that might be great office space, for a buyer who’s looking for some, we’d be happy to help you review your options.
We can connect at 508-568-8191 or email@example.com.
Have a great week…
Mari and Hank