Here’s how the rise of remote work has changed the real estate market.
A lot of homebuyers used to consider commute times when looking at listings. Now, things are changing. Buyers are beginning to look beyond downtown areas and job hotspots due to the increase in remote work capabilities. In some cities, downtown property values are actually seeing a decrease because of this trend.
I’ve already seen a shift in my clients’ goals. Many of them are no longer interested in one particular location or neighborhood—now, they’re more concerned with how much home they can get for their money.
Unlike cities like San Diego or Chicago, we don’t really have long commute times. Still, people across the nation are able to settle down in places they actually like because they don’t need to consider how long it’ll take to travel to and from work.
Both Kentucky and Indiana have some fantastic programs to help buyers save money. Kentucky provides up to $6,000 in housing assistance, while Indiana has a program that provides up to $12,000 in grant money. There are also a number of big employers in our region, including Amazon, UPS, and FedEx. With the assistance programs in mind, people can choose whether to live closer to or farther away from their jobs.
As you shop for a home, think about whether commute time is important to you. If you’re able to telecommute, even better. If you have any questions about finding a home that suits your needs, or if you’d like more information, feel free to reach out to me. I look forward to hearing from you soon.