Here are five ways that remote working will affect the housing market.
Today’s topic is simple: How has remote working changed the real estate market? By remote work, I mean working from home and your boss not complaining about it but loving it. I just had clients the other day where both husband and wife worked from home and would be working from home at the new location. That goes to show that this is a huge topic that is becoming more and more prevalent. Here are five points on how the work-from-home boom could affect your next sale or purchase:
1. Only 20% of people could work from home before the pandemic. Now it’s up to 30%, and it’s heading to 37% in the next five years. That’s going from one in five people to one in three, which will definitely change the market.
2. Remote workers can live anywhere they want. You could choose to move from California all the way to Toledo. A couple of my clients did this not because they had to but because they wanted to. They could get a bigger home, fewer taxes, or even be closer to family.
3. It changes how buyers view houses. I did not sell a house with a Zoom room until this year, and now that I have, it’s something I look for. For those of you who don’t know, a Zoom room is smaller than an office and dedicated to hosting Zoom meetings. Buyers are also looking for not one but two offices in the floor plan.
4. Remote working is not going away. No one has called me and said they wanted to give up the benefits of remote working. They love it, and it’s a growing trend that will keep growing.
5. Freedom is American. So is the freedom to work from your home no matter where you are. It works great, and a bunch of new tools like Starlink, 5g, Zoom, and shared work software make it possible to live and work anywhere.
Nowhere fits this trend more than Northwest Ohio. We have abundant land, lower price per square foot houses, and better transportation than anywhere else. We will get more of these remote workers, so make sure your home fits into this market. If you need help, have some questions, or are looking to buy or sell, just call me at 419-466-SOLD. I look forward to hearing from you.