Remote work, which reached new heights during the heyday of the COVID-19 pandemic, continues to be a popular option for many workers.
According to a study by the Pew Research Center, more than a third of workers who have jobs that can be done remotely are now working from home full time. Not only that, but a Bankrate study also notes that 64% of US adults who are working full time or looking for full-time employment support a fully remote work schedule over a fully in-person one.
Aside from giving people the chance to work in the comfort of their own homes, the emergence of remote work has also reshaped several important aspects of people’s lives in recent years, most notably in how we approach our homes.
Whether you’re a potential homebuyer or just curious about the evolving nature of our living spaces, continue reading, as we lay out everything you need to know about the impact of remote work on homebuyers and how it has redefined the criteria for the ideal home.
THE IMPACT OF REMOTE WORK ON HOMEBUYERS
Larger homes are in demand
Remote work that came in the wake of shelter-in-place directives has altered the way we think about our homes. With more time spent indoors, remote workers found themselves interacting more frequently with family members. However much of a benefit it was, it also resulted in lack of privacy and the blurring of personal and professional boundaries.
Since then, homebuyers have sought out larger homes. A report by Forbes noted that fully remote workers tend to choose properties that are around 5% to 7% bigger to accommodate their work-from-home setups.
Outdoor amenities and living spaces are more important than ever before
Another result of the emergence of remote work is the increasing popularity of outdoor amenities and living spaces.
These spaces, which include everything from swimming pools and rooftop gyms to outdoor entertainment spaces and dining areas, have been linked to numerous benefits. Improved mental and physical health, as well as opportunities for safe social interaction are just some of them.
Moreover, the addition of outdoor amenities and the expansion of living spaces have also resulted in a significant improvement in property values – a boon for homeowners who may be thinking of putting their home back on the market.
Smart home technology is on the rise
Given the nature of remote work, today’s buyers are more likely to choose a property with smart home technology over similarly sized ones that don’t have the necessary infrastructure for a tech-driven lifestyle.
Of these, the most important are smart home assistants and home automation applications, which can be coupled with everything from smart lights and plugs to TVs and full-on kitchen appliances.
As noted by experts, these examples of smart home technology allow remote workers to be more efficient, as they can simply automate several household tasks while they focus on their work. Moreover, the technology can be applied to one’s personal use (e.g., telling smart home assistants to dim lights and cue films on the TV for movie nights, etc.), which makes it a solid addition to the property.
Buyers are choosing suburbs and rural areas over cities
One other effect that remote work has had on the real estate market is the change in preference from urban city centers to suburban and even rural neighborhoods. According to experts, this is because homes in the suburbs and rural areas tend to be bigger compared to houses in cities, giving prospective homeowners enough space to set up their offices and other remote work essentials.
In addition, suburban and rural areas have a much lower cost of living than cities, which means homeowners can get more from their hard-earned dollars.
EXPLORE YOUR REAL ESTATE OPTIONS WITH THE TELCHIN GROUP
From an increased demand for larger homes to a shift in preferred housing locations, it can’t be denied that the era of remote work has influenced several drastic changes in home buyers.
If you’re looking to invest in luxury real estate in the Palm Beach area, The Club at Ibis has stunning homes equipped with everything you will need for remote work – and then some. We also have a stellar selection of homes in West Palm Beach and Palm Beach Gardens, all of which boast features and amenities guaranteed to match your needs and preferences.
Ready to invest in Ibis West Palm Beach homes for sale? The expert real estate agents at The Telchin Group, LLC are more than happy to give you a hand. Contact us at 561.301.0249 or send us a message here to schedule a consultation.