The COVID-19 pandemic has brought about an increased prevalence in work-from-home setups, which have caused people throughout the country to reevaluate their homeownership needs.
After working remotely for an extended period, conventional requirements and preferences have now shifted. In this page, we’ll take a closer look at some of the ways remote work has influenced home purchase decisions in recent months.
Wider, more expansive search for homes
Because many people are now allowed to work from virtually anywhere, proximity to their place of work is no longer a major factor. As a result, prospective homebuyers are now considering homes located further away from employment hotspots like the city limits.
Although working remotely does not require one to live within or close to the city, some buyers do not prefer more secluded or isolated residential locations. For this reason, suburbs that have bustling town centers are now more in demand, as they typically offer more alternative workspaces such as coffee shops or public libraries.
Remote workers are also considering locations outside of their state. The freedom to work from any location means buyers do not need to wait for retirement before they can move to states where they can enjoy their preferred climate or lifestyle.
More flexibility
Open floor plans were all the rage before the pandemic. Nowadays however, homes that have enclosed spaces offering privacy are in greater demand, as are ones that have additional bedrooms, attic space, or finished basements.
Spending more time at home also means more prospective buyers are looking for homes that offer plenty of additional space, not only for home offices, but for kids’ dedicated learning areas, personal fitness gyms, home theaters, and so on.
This means that for sellers, finding a way to create more private space before they put their home on the market is a great way to make their listing more competitive.
More freedom to stay put or relocate
The ability to work from home means homeowners no longer have to relocate, even if they switch jobs or their existing company moves to another area.
It’s safe to say that even after the pandemic, many companies will continue to provide versatile work arrangements, which gives homebuyers more freedom to choose whether to relocate or just continue living in their current residence.
Increased interest in vacation homes
With the freedom to work from anywhere, vacation homes can now be used as an occasional office. A meeting while you’re at the beach is now closer to reality, instead of simply having an image of a beach as your Zoom backdrop.
Since remote work is expected to stay for the long haul, an increase in vacation home purchases or primary homes in vacation destinations is likely, which will lead to a corresponding increase in value for properties in those areas.
If you want to work with the best real estate agent in Arizona, get in touch with Aeris House Properties today by calling 602.671.2343, or send us an email at info(at)aerishouse(dotted)com.