Today’s competitive market can be challenging for homebuyers, especially if they’re looking to purchase their first home. But if your client is one of the many people who work remotely, they may have a great opportunity to use that flexibility in working remotely to achieve their home buying goals this year.
In a recent report, Arch Capital Services explains how the ongoing trend of remote work can open up more options for homebuyers:
“. . . This will enable those who are able to work from home on a part-time or hybrid basis to move slightly farther away from job centers. . . . For workers who secure full-time remote jobs, their place of residence will be determined by affordability and personal preferences.”
Basically, working from home is great news for first-time buyers trying to find a home that meets their needs and budget. Below is a deeper look at how it could benefit them.
Extra Flexibility in a Career Means Extra Flexibility in a Home Search
If your client’s job is 100% remote, they don’t have to be tied to a specific location or office. So, if they were having a hard time finding something that worked in their previous local area, it may be time to expand their search.
The flexibility offered in remote work allows individuals to search for a more affordable location where they have additional options within their price range. This can help buyers to achieve two goals – saving money and finding additional features that meet their needs. To truly highlight this benefit, a recent First American article discusses the great ways remote work can really help meet home buying goals. Ksenia Potapov, Economist at First American, says:
“For potential first-time home buyers, leveraging their house-buying power in more affordable markets can also help them buy more attractive homes – more square footage and rooms, more options for different home styles and neighborhood amenities – increasing the opportunity to find a home that suits their preferences.”
Bottom Line
Remote work doesn’t just provide expanded flexibility for a career; it also means many professionals are no longer tied to expensive urban centers near their office. Connect with your clients now about how to capitalize on this market opportunity, or, if your business is in a destination that has seen an influx of remote-professional transplants, consider launching a marketing campaign in near by cities that have seen an exodus.
