This post was most recently updated on September 19th, 2023
[A collaboration post – all thoughts are my own.]
Are you working from home? If yes, then you already know that working from home provides you with opportunities that you wouldn’t have if you were working for your company.
The past two years have fundamentally altered many aspects of our daily lives. COVID-19 and its global effects have dramatically changed how we work, live, and connect with people around us. With pandemic restrictions and new virus variants that keep appearing, many people seem comfortable to continue with remote work moving forward into the future. A trend that impacts what features people will be looking for in their next homes.
Because of remote work, we’re spending more time in our homes than ever before. Therefore, homeowners all over the country have realized that their home needs are changing. For real estate markets, millions of workers’ newfound ability to work from their homes changed how they view housing, what they need from homes, and where they want to spend their money.
Are you looking for a change in scenery or need a larger home office?
One reason for this is due to remote work. We saw location, size, and home type preferences change in significant ways this year. Here are some of the reasons why working from home changes the future of real estate.
Homebuyers plan to settle down in the long run
Other people thought working from home would be temporary, but a recent survey indicates working from home isn’t a passing fad. Statista and Upwork’s survey of hiring managers projects that 37.5% of U.S. workers will work remotely in some capacity over the next five years.
Working remotely means that homeowners don’t necessarily have to move if they switch jobs or their company relocates. They realize that they don’t have to go to the office every day, eat out during lunch, or be tied to a specific area. They have more freedom when it comes to where they live and also continue saving after figuring out the payment for their dream house.
Working from home: expand the location of home search
Are you one of the employees who will remain working 100% remotely?
Working remotely allows people to do their jobs from anywhere. Having the ability to work remotely can offer individuals and families more freedom in where they choose to live. That is the reason home buyers are more open to viewing houses that are further away from their job areas.
Working from home gives you the option to move to a lower-cost-of-living area, or you can go big and move to the place you’ve been dreaming about. You can estimate your affordability based on your income and buy a house in a more affordable area—a house that you can truly make your own.
Homebuyers can also look for homes in areas with lower taxes, out-of-state locations, or cities with well-rated school systems. Or moving across the country to be closer to their families while still holding onto their current careers.
Working remotely means a home with good office space
I have a dream to buy a house that allows me to have my own office space. Homebuyers like me who spend more time in their home during the workday are also looking to spend less time there during the evenings and weekends. This means I’m willing to trade space previously allocated to a theater for a great home office.
COVID-19 has indeed proved that a considerable amount of the work that usually takes place in offices can continue when they are closed. Personally, I discovered that I can be more productive at home, and enjoy the freedom of a more relaxed schedule. Moving forward, buyers will be searching for homes that provide comfort and privacy and can help create a balance between work and life.
If you don’t have a dedicated home office and are planning to sell soon, consider finding a home with a spare bedroom and changing it into an office. But with the number of people working from home that can double in the next few years, I predict that home offices will be on top of desired features on a lot more home searches. So, the real estate agents who modify their listings by adding a private home office may find themselves with a greater advantage as well.
Homebuyers need more outdoor space
Before the pandemic, buyers had a clear preference for homes with large outdoor living areas, with one survey showing that 70% of people thought of a large backyard as their number one most important outdoor feature in a home.
As work-from-home becomes even more commonplace, some of the home features that buyers will be looking for in 2022 are more outdoor space or separation between indoors and outdoors. Homebuyers will be looking for separation from their neighbors because they need a balance between private, semi-private, and public spaces.
Are you one of the people who found that working from home made an impact on their current home? Whether you’re ready to move to your dream house or are just looking for a house that better accommodates your work-life needs, now is a great time to make a move!