Remote Work Trends Mean Flexibility for First-Time Homebuyers

By
Real Estate Agent with Arizona Elite Properties SA545073000

Remote Work Trends Mean Flexibility for First-Time Homebuyers | Simplifying The Market

Today’s low inventory can be challenging for homebuyers, especially if you’re looking to purchase your first home. But if you’re one of many people who work remotely, you may have a great opportunity to use the flexibility you have at work to achieve your homebuying 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 if you’re a first-time buyer trying to find a home that meets your needs and budget. Here’s a deeper look at how it could benefit you.

Extra Flexibility in Your Career Means Extra Flexibility in Your Home Search

If your job is 100% remote, you don’t have to be tied to a specific location or office. So, if you’ve been having a hard time finding what you want in your local area, it may be time to expand your search.

One option you could consider is moving to a place where you’ve always wanted to live, like the mountains, beach, or closer to loved ones. When you broaden your search radius to include those locations, it’ll give you additional homes to consider.

It could also allow you to search for a more affordable location where you have more options in your price range. This can help you achieve two goals – saving money and finding additional features that meet your needs. To truly highlight this benefit, a recent First American article discusses the great ways remote work can really help you with your homebuying 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.”

That means you can use your work flexibility to search for homes with the amenities you need at a lower price point.

Bottom Line

Remote work doesn’t just give you expanded flexibility for your career. If you’re no longer tied to a location because of your office, you have a great opportunity to expand your housing search. Let’s connect to explore 

Blog courtesy of Andrew McCrossan

 

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Bill Salvatore / Arizona Elite Properties
Your Valley Property Team
Residential Sales, Marketing, and Property Management

Selling Arizona for more than 19 years

Founder: AZVHV Arizona Veterans Helping Veterans
Recipient: East Valley Tribune’s: Best Gilbert, Arizona Realtor

Comments (5)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good advice to share with prospective home buyers.

Have a productive weekend.

May 14, 2022 04:18 AM
Bill Salvatore - East Valley

Hey, thanks for the pop-by, I appreciate your information.  Have a great one. bill

May 14, 2022 12:35 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Bill - getting less to to close to work is not longer a big desire in today's wprld.

May 14, 2022 04:34 AM
Bill Salvatore - East Valley

Grant you are so right. Hey, thanks for the pop-by, I appreciate your information.  Have a great one. bill

May 14, 2022 12:35 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Bill. Not a big fan of remote work! That said, if you have a job, where it works, the opportunity zone for home ownership widens. Enjoy your day.

May 14, 2022 05:05 AM
Bill Salvatore - East Valley

Wayne, I agree with you.  Finding I work more efficiently in a work setting than from home. 

May 14, 2022 12:36 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bill, I am hearing from many buyers that want to buy further out, as they are able to work from home.  Times are changing!

May 14, 2022 06:09 AM
Bill Salvatore - East Valley

I wonder when we will see on the commercial side, with less and less brick and mortars. 

May 14, 2022 12:38 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It is good to have flexibility in life and having flexibility with our work certainly opens up many more doors.

May 14, 2022 06:41 AM
Bill Salvatore - East Valley

Brian you are correct there. Hey, thanks for the pop-by, I appreciate your information.  Have a great one. bill

May 14, 2022 12:38 PM