How Affordability and Remote Work Are Transforming Where We Live
There’s a fascinating shift happening in the housing market today. As remote and hybrid work become more prevalent, people increasingly move to more affordable areas, finding new opportunities to stretch their dollars further.
Considering a Move to a More Affordable Area
The high mortgage rates and rising home prices have made homeownership challenging for many. This financial pressure is prompting potential buyers to explore areas where homes are less expensive, and the overall cost of living is lower. Orphe Divounguy, Senior Economist at Zillow, highlights this trend, noting:
“Housing affordability has always mattered . . . and you’re seeing it across the country. Housing affordability is reshaping migration trends.”
If you plan to buy a home soon, it might be wise to widen your search to include more affordable locations. Many people are doing just that to find a home within their budget. According to Extra Space Storage:
“55% of American adults are looking to relocate to a different state or city for more affordable homes and lower costs of living. . . Specifically, states with a strong economy, lower costs of living, and remote work options continue to be the ideal places to live in the U.S.”
Remote Work Expands Home Options
Remote work has revolutionized the home-buying process, offering greater flexibility in choosing where to live. If you work remotely or have a hybrid work schedule, you can explore a wider range of suburban or rural areas. Market Place Homes explains:
“People start to reconsider where they want to live when commute times are slashed in half or eliminated altogether. If they have a longer commute but don’t have to do it daily, they may feel like they can tolerate living farther away from their job. Or, if someone works entirely remotely, they can move to a cheaper area and get a lot of house for their dollar.”
How a Real Estate Agent Can Help
Navigating a move to a new and potentially unfamiliar area can be challenging. This is where a real estate agent becomes invaluable. They can help you find a home that fits your budget and lifestyle. As Bankrate notes:
“If you’re moving far away, you may not have a good idea about which neighborhoods or towns will be the best fit. An experienced local agent can help you find the lifestyle you’re looking for in a home you can afford.”
Bottom Line
Are you dreaming of a place where your money goes further? With the added flexibility of remote work, you might have more options than ever before. Let’s connect, and together, we’ll make your dream of homeownership a reality in a location that suits your needs and budget.
Houses that are priced, presented & marketed correctly are selling fast.
Let my 32+ years of Real Estate experience in Las Vegas work for you. 702-378-7055
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Very Vintage Vegas does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your research and due diligence and obtain professional advice before making any investment decision. Very Vintage Vegas, will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
