Friday, April 19, 2024

With remote work here to stay, how will that impact home sales?

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KNIEPER REAL ESTATE

 

Pam Knieper, Broker/Owner of Knieper Real Estate, is and has been the #1 Top Producer for more than 15 years in Hood County and running. She is known as the Waterfront Expert and the Authority on Real Estate.

 

A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals took advantage of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they chose to get creative and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad.

According to economists from Goldman Sachs in a recent article from CNN: “Job ads increasingly offer remote work and surveys indicate that both workers and employers expect work from home to remain much more common than before the pandemic.”

Other experts agree. A survey conducted by Upwork of 1,000 hiring managers found that due to the pandemic, companies were planning more remote work now and in the years to come. Upwork elaborates: “The number of remote workers in the next five years is expected to be nearly double what it was before COVID-19: By 2025, 36.2 million Americans will be remote, an increase of 16.8 million people from pre-pandemic rates.”

The benefits of this shift in attitude toward remote work is obvious: People working from home are realizing substantial savings as a result of not having to drive in or commute to the office every day, not eating out for lunch, childcare costs, and this is the short list. People working from home don’t need to be tied to a specific area. They have more flexibility when it comes to where they live, and that flexibility combined with the savings continues to bring new buyers to the Real Estate Market every day.

So here is some food for thought on this subject.  When I first entered the Real Estate industry in Granbury, a 3-bedroom, 2-bathroom home was the most popular and easiest sale.  Two- (2) bedroom homes were next, and we could barely give away 4-bedroom homes. With time and the increasing affordability of home computers, demand for 4-bedroom homes, or 3 plus a study, completely changed the dynamics.

So, my advice to Homeowners is this: If you don’t have a dedicated office and are planning to sell soon, consider staging one of the spare bedrooms as an office. If you are planning a remodel soon, look for ways to create a dedicated, private, home office space. When doing home improvements, kitchen and bath updates are still considered the best return on your investment, but with the number of people working from home projected to DOUBLE IN THE NEXT FIVE YEARS, I predict that home offices will rank at the top of desired features on a lot more home searches.

As always please feel free to contact us at 817-219-0456. We love hearing from you, and we love to talk about Real Estate or visit us online at www.WeSellGranbury.com.

Portions of this article were sourced, with permission, from KeepingCurrentMatters.com

pamK@knieperteam.com | 817-219-0456