How Working Remotely Changed Homebuyer's Needs

The coronavirus pandemic has affected a lot: how we live, how we communicate and mingle with others, and lastly, how we work and earn a living for our families. A lot of companies were at the stake of laying off most of their employees, and worse, some closed down the business for good. But thanks to the technology we have now, employees are working remotely straight from their homes. The ultimate question now is this: Is your home conducive for working?

Many homebuyers have changed how they view their future homes. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? Because of remote work we’re spending more time in our homes than ever before and it’s changing the way they look and the criteria we use when we shop for a new one.

The ability to work remotely is expanding home shoppers’ geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term…Although it’s too early to tell what long-term impact the COVID-era of remote work will have on housing, it’s clear that the pandemic is shaping how people live and work under the same roof.

George Ratiu, Senior Economist, Realtor.com

GEOGRAPHY OF HOME SEARCH

Because remote work allows us to do our jobs just about anywhere, it’s no longer as important to have a short commute. The New York Times article “Seven Ways Telecommuting Has Changed Real Estate” notes that homebuyers are more open to viewing houses that are further away from job dense areas like the city limits.

While buyers who work remotely may not need to be within the city limits, they also don’t want to feel too isolated. This means that suburbs with thriving town centers are moving to the top of the wish list. Busier suburbs are also more likely to offer alternate workspaces like updated public libraries and coffee shops.

A HOME WITH DEDICATED OFFICE SPACE

There’s no contesting the advantages of an open floor plan – but it’s no longer at the top of the list for many homebuyers. Buyers want enclosed or flexible spaces within their homes that can serve as a private home office. Homes that offer an additional bedroom or a finished basement or attic space are often in greater demand.

Since home buyers are spending more time in their home during the workday, they’re also looking to spend less time there during evenings and weekends. This means they are willing to trade space previously allocated to a home gym or theater for a great home office. Sellers may find that investing in the creation of a private space will make their homes more competitive.

Bottom Line

If your personal and professional needs have changed and you’re ready to accommodate all of your family’s competing priorities, let’s connect today. Making a move into a larger home may be exactly what you need to set your family up for optimal long-term success.

If you’re interested in buying or selling a home, call our local realtor, Cody Tuma, at 541-306-3139 today!