If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.
While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low.
“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.”
To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home.
The same study also notes while 45.3% of people are planning to stay within a 2-hour drive from their current location, 41.5% of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now (See graph below):In some cases, moving a little further away from your current location might mean you can get more home for your money. If you have the opportunity to work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed:
“People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”
Whether you can eliminate your daily commute to the office, or you simply need more space to work from home, your plans may be changing. If that’s the case, it’s time to connect with a local real estate professional to assess your evolving needs and determine your path together.
This has been a year of change, and what you need in a home is no exception. Let’s connect today to make sure you have expert guidance on your side to help you find a home that fits your remote work needs.
David Deem 714-997-3486 Dave@DeemTeam.com Mortgage rates fell below 3 percent for the first time in 50 years. The drop has led to increased homebuyer demand and, these low rates have been capitalized into asset prices in support of the financial markets. However, the countervailing force for the economy has been the rise in new virus cases which has caused the economic recovery to stagnate, and this economic pause puts many temporary layoffs at risk of ossifying into permanent job losses. www.DeemTeam.com DRE#01266522
David Deem 714-997-3486 Dave@DeemTeam.com If you’re lucky enough to have a spare bedroom, you may want to think of it less as a rarely used landing spot for guests or a place to store extra ‘stuff,’ and more as a blank canvas - a pleasant spot you can use for rest, relaxation, hobbies or exercise, or even as a money-making option. Consider these inspiring ideas from room designers and creative thinkers: Get crafty - Do you sew occasionally? Like to draw or paint? Love to do amazing gift-wraps? Fill the room with smart choices of furnishings, storage, tables and accessories to make your hobby more fun than ever. Make it personal - Turn the room into a ma’am- or man-cave, with comfy furnishings, a TV and sound system and anything else you need to make it a cozy, personal retreat. Make it a study - Create a cheerful home office space where you or your kids can pay bills, read online or study without interruption. Install a work counter/desk across one wall, add enough chairs and supply
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