Even as some companies transition back into the office, remote work remains a popular choice for many professionals. So, if you enjoy working from home or hope to be able to soon, you’re not alone. According to a recent survey, most working professionals want to work either fully remote or hybrid (see below):
This trend is good news if you’re looking to buy a home because a remote or hybrid work setup can help you overcome some of today’s affordability and housing inventory challenges.
More Work Flexibility Equals More Home Options
Remote or hybrid work opens up a world of opportunities. That’s because it allows you to broaden your search for your next home since you’re no longer limited to living close to your workplace. With the freedom to work from anywhere, you can explore more affordable areas that may be located farther away from bustling city centers or your office. This flexibility can be a game changer, while higher mortgage rates make it difficult for some homebuyers to afford a home.
An article from the New York Times (NYT) highlights how remote work can significantly assist you in overcoming that challenge:
“. . . take advantage of the opportunity remote work has presented to move to more affordable communities (either farther out in the suburbs, or in another part of the country).”
And, since the supply of homes for sale is still so low, another critical challenge for you today may be finding something with all the features you want and need. Because remote work allows you to broaden your search radius to include additional areas, you may have less trouble finding a home with the features you want because you’ll have a bigger pool of options.
Working remotely gives you the flexibility to find an affordable home with the features you want. In other words, you have a better chance of getting what you need without blowing your budget.
Working remotely gives you more flexibility in your job and presents a great chance to broaden your search for a home. You can explore more options since you’re open to more than just a specific location. Connect with a Martino Realtor to discuss how this can expand your choices and help you find the perfect home.