How Is Remote Work Changing The Real Estate Landscape?
How we work in America has gone through a major makeover lately, and remote work is in the spotlight. It's not just a fad—it's becoming the norm. Experts predict a whopping 417% increase in remote workers by 2025, totaling about 36.2 million Americans. Compare that to the pre-pandemic era, where only 7 million folks worked remotely.
If you're on a house-hunting mission and have the flexibility to work remotely, this trend is your new best friend. It's like leveling up in a video game—it helps you tackle today's housing challenges without breaking a sweat.
Working remotely or doing a mix of office and homework lets you shake up your house-hunting game. Since you're not stuck in a daily commute, living near your workplace isn't a must anymore. If you're cool with moving a bit further from the city and into the 'burbs, you unlock a treasure trove of affordable homes. Fannie Mae even said: “People working from home might be more open to moving a bit farther from work due to the affordability of housing in remote areas.
So, if you're eyeing a move, having this kind of freedom in location can up your odds of finding a budget-friendly home. As you broaden your horizons and check out the more affordable options like Bunnell or Palm Coast, you might discover you can get more bang for your buck. Or, if you’ve always wanted to call a quiet beach town like Ponce Inlet but couldn’t get that job transfer, remote work is opening up new options.
With the current shortage of homes for sale, finding a perfect place can be a real scavenger hunt. By casting a wider net, you'll have a bigger pool of options to choose from, making it easier to find a home that's your style. Picture homes with more space, different styles, and cool neighborhoods that might've seemed out of reach.
In the past, living close to work was usually a top priority, but it often came with a hefty price tag. Now, the rules have changed. If you work from home, you get to pick where you want to live without the dread of long daily commutes. This twist lets you concentrate on finding a home that fits your budget and checks off your dream home wish list.
The bottom line, is remote work isn't just about having a flexible job—it's a golden ticket to broadening your horizons in the house hunt. Without being tied down to a specific spot, you're free to explore all the options.