Before the pandemic, only 21% of individuals worked from home. However, a survey of hiring managers conducted by Statista and Upwork projects 37.5% of U.S. workers will work remotely in some capacity over the next five years.
Working from home gives you more flexibility and more options.
If you’re part of that 37.5%, working from home may provide you with opportunities you didn’t realize you had. Since you don’t need to be tied to a specific area for your job, it gives you more flexibility when it comes to where you can live.
Working from home isn’t a passing fad.
For many professionals, it's here to stay.
No Data Found
If you’re one of the nearly 23% of workers who will remain 100% remote:
You have the option 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 house 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 better weather and community amenities. 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 into work every day, a slightly longer commute from a more suburban or rural neighborhood could be a worthy trade-off for a home with more features, space, or comforts. After all, if you’ll still be at home part-time, why not find a place that better suits your needs?
According to the latest Top Ten Issues Affecting Real Estate from The Counselors of Real Estate (CRE), many homebuyers are already taking advantage of their newfound flexibility:
“. . . after years of apparent but variant trends towards urbanization, the pandemic universally caused a movement away from urban cores, particularly for those with higher incomes who could afford to move and for lower-income individuals seeking lower costs of living.”
Bottom Line
If you’ve found what you’re looking for in a home is changing due to remote work, it may be time to make a move. Let’s start prioritizing your home needs today.