How Remote Work Expands Your Homebuying Horizons
Even as some businesses return to the office, many professionals prefer to work from home. So, if you currently work from home or hope to do so soon, you're not alone. According to a recent survey, the majority of working professionals prefer to work entirely remotely or in a hybrid capacity (see below):
If you're looking to buy a home, this trend is good news because a remote or hybrid work setup can help you overcome some of today's affordability and housing inventory challenges.
More work flexibility means more options for working from home.
Remote or hybrid work opens up a whole new world of possibilities. Because you are no longer restricted to living near your workplace, you can broaden your search for your next home. You can explore more affordable areas that may be located further away from bustling city centers or your office if you have the freedom to work from anywhere. While higher mortgage rates make it difficult for some homebuyers to afford a home, this flexibility can be a game changer.
A New York Times (NYT) article highlights how remote work can greatly 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, because the supply of homes for sale is still so limited, finding something with all of the features you want and need may be a major challenge for you today. Because remote work allows you to broaden your search radius to include more areas, you may find it easier to find a home with the features you want because you'll have a larger pool of options to choose from.
Working from home gives you the freedom to look for an affordable home with the features you desire. In other words, you have a better chance of getting what you need while staying within your budget.
Working remotely not only gives you more job flexibility, but it also provides an excellent opportunity to broaden your search for a home. You have the freedom to explore more options because you are not restricted to a specific location. Contact a local real estate agent to learn how this can broaden your options and help you find the perfect home.
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