Over the last two years, working from home has become a regular occurrence for most office workers. As a result of companies and offices deciding to expand their remote work positions, it has impacted many different industries. Let’s look at how remote working has impacted the real estate market.
Online Access Expanding Location Choice
Just 12 years ago, only 1.8 billion people had regular access to high-speed internet. By the end of this year, most experts predict that almost all of the world’s 8 billion people will have some high-speed internet access. This massive connectivity makes remote work not only possible but easier to implement. Because of this ability to essentially work from anywhere, a short work commute is no longer at the top of homebuyers’ lists. This new development means more buyers are willing to live farther from big cities. Rural small towns or country settings are becoming more in demand – as long as there’s dependable wi-fi.
Housing Feature Demands
Even if a buyer is working remotely, they’ll still need a dedicated space to do so. In fact, for tax purposes, it’s required. Because of this, home buyers are less interested in oversized master bedrooms or an extra bathroom and are more interested in dedicated home offices. In fact, a home office has quickly climbed to be one of the most-requested home features.
Remote Real Estate
Not only are people working from home, but they’re also shopping for homes from home, too! Although online house shopping has been a thing for a decade now, it’s now the number one way people browse potential new homes. This change in the industry has enticed more real estate companies to offer online home tours and online chats to make things even easier for potential homebuyers.
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