General November 30, 2020

Remote Work Altering Home Buying

There’s no denying Henry County’s housing market continues to be active. Not only are interest rates low, but the continuing shift toward remote work has many looking to move out of large urban areas. What does remote work mean for future home buying? Here at ERA Integrity, we want to help you navigate today’s market. Here are some things to consider:

Remote work is leading to an increase in relocation.

According to a study released by Upwork, a freelancing platform, 14 million Americans plan to relocate to a different city as a result of remote work. Many companies are finding that remote work is more efficient and cost-effective.

“Our survey shows, many people see remote work as an opportunity to relocate to where they want and where they can afford to live,” said Adam Ozimek, Chief Economist at Upwork.

 What are remote workers looking for?

Currently, there is a 32% increase in moving interest across the nation compared to this time last year. (United Van Lines survey) Most moving interests are associated with desires to be closer to family, changes in work arrangements (remote work opportunities), and the want for a lifestyle change or improvement of quality of life.

Those that have been given the option to work remotely are finding themselves reevaluating what is important to them. Many are landing on being closer to extended family and friends.

How is this impacting the Henry County housing market?

The sudden surge in relocation interest has made it difficult to think too long before purchasing a home. Houses are practically flying off of the market and averaging 15 days before they go pending. How can you ensure you are ready to purchase a home when you find the right one?

Be sure you have a trusted real estate agent to help you through the process. After selecting an agent, you need to be preapproved. ERA Integrity can help you find a trusted lender, as homeowners aren’t accepting offers from buyers who aren’t preapproved. Your agent will help you find your dream home. Once you find it, our agents at ERA Integrity will guide you through the rest.