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How Will Remote Work Impact Homeowners and the Housing Market?

Key Takeaways:

What Buyers and Sellers Need to Know About Remote Work

Before the COVID-19 pandemic, only around 20% of jobs were full- or part-time remote. But in the next five years, that same number could reach a record 37.5%. To put that into perspective, 36.2 million Americans will be remote in 2025, which is an increase of 16.8 million people from pre-pandemic rates.

If you’re one of the many homeowners who embraced remote work, you could have more options than you expect. Since you don’t need to be tied to a specific area for your job, you have more flexibility when it comes to where you can live. Let’s take a closer look at the opportunities available here in the Triangle!

Fully remote workers can live anywhere…or buy a second home

Woman remote work

If you’re one of the nearly 23% of workers who will remain 100% remote, you can live just about anywhere you want! Permanent remote workers have the option to move to a lower cost-of-living area or to the location of their dreams. If you search for a home in a more affordable area, you’ll be able to get more bang for your buck—and that means you could even score an even bigger home office.

Many remote workers are capitalizing on today’s low mortgage rates to purchase a second home in a different location. Whether you’re looking for a beach getaway, mountain cabin, or something else entirely, you’ll be able to work from your second home in just the right location.

Hybrid workers should also consider making a move

Woman working in an office

Out of all remote workers, around 15% operate on a hybrid schedule—that means they spend some time working at home, as well as a few days in the office. While this doesn’t offer quite as much flexibility, hybrid workers do have some options when it comes to where they live.

For example, relocating to a home that’s further away from your office could be a great choice. Since you won’t be going in to work every day, a slightly longer commute from a more suburban or rural neighborhood may be a worthy trade-off for a home with more features, space, or comforts.

Bottom Line: Remote Work Is Here to Stay, and It Can Impact Your Home Search

Real estate agent giving a tour

Even as life starts returning to normal, many companies have shifted to a permanent work-from-home or hybrid schedule. In fact, remote work is now more popular than ever, and it’s one of the driving forces behind today’s hot real estate market. If you want to make the most of this transition and find a home that meets your needs, now is the time to talk to an agent. Home prices have reached their peak, and you deserve to capitalize on your equity. Our team can even help you find a new home in just the right location…and with an amazing office!

Find Your Perfect Place with Linda Craft & Team

Thinking about relocating to the Triangle? Want to find a house with the perfect office? No matter what you might need, you can trust Linda Craft & Team’s centuries of combined expertise. Give us a call at 919-235-0007 to learn about Raleigh’s real estate market—we can even tell you just how much your home is worth in real time.

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