Remote Work: Broadening The Horizons For Home Buyers

As companies across the nation continue to navigate the evolving dynamics of work culture, remote work remains a prevalent choice for many professionals. If you are relishing the comfort of working from home or have ambitions to do so, you're certainly not alone. According to a recent survey, a majority of working professionals are opting for either a fully remote or hybrid work model (see graph below):

This trend serves as a silver lining if you're on the hunt for a home, as remote or hybrid work schedules can help tackle today's challenges of housing affordability and inventory shortages.

Flexibility At Work Translates To More Options At Home

The advent of remote or hybrid work has unlocked a myriad of opportunities. It essentially frees you from the confines of your office's geographical location, allowing you to broaden your home search radius. With the liberty to work from virtually anywhere, you can explore more affordable regions that might be further away from bustling city centers. This newfound flexibility can be a real game-changer, especially as climbing mortgage rates pose affordability concerns for some homebuyers.

A recent article from the New York Times (NYT) underscores how remote work can help overcome such challenges:

“. . . 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).”

Additionally, the current real estate market is grappling with a low supply of homes for sale, making it tough to find a home that ticks all your boxes. But thanks to remote work, you can extend your search to additional areas, thus improving your odds of finding a home with the features you desire. In essence, you get a larger pool of options to choose from.

Remote work provides the flexibility to find a home that suits your needs without stretching your budget.

The Bottom Line

Remote work not only offers you flexibility in your professional life but also expands your horizons in the home-buying journey. By freeing you from geographical limitations, it enables you to explore a wider array of housing options. Let's connect to discuss how this can broaden your choices and assist you in finding the perfect home.