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Many companies are delaying their return to office plans or declaring permanent work from home options. If your workspace is one of them, it could open up new possibilities for where you can live.
Since there’s no need to regularly commute to a set work location, you’re essentially free to work from wherever you want, including in lower-cost areas. The question is, how can remote work affect the house hunting process?
Here are a few opportunities that remote work can provide when searching for a new home.
Remote work allows you to work (and live) farther from the office.
Maybe your job’s physical location is located somewhere near the downtown core, but you crave some greenery and lots of open space. Remote work will still allow you to collect a paycheck while you enjoy a completely different scene.
Seize the opportunity to move to your dream location.
When you’re in search of a new home, you likely have a list of must-haves. For instance, you may need 3 bedrooms to accommodate your family, a fenced-in yard for your pet, or a finished basement as a place for the kids to play.
But when you work from home, you may also want to add a space for a home office as well. The thing is, it may be tough to find properties that offer this type of space when you’re limited on location.
Instead, by expanding the area that you’re looking to buy it, you’ll find plenty more options available to you.
This is your opportunity to find a home with more space so you can make your remote work goals a reality.
“Households will continue to migrate to areas further away from city centers as they become more certain about the permanency of remote work options.”
~ Gad Levanon, PhD., Founder, Labor Market Institute, Conference Board
Consider moving to an area with a lower cost of living, so you can get more for your money. This is especially true if your job’s physical location is in an expensive city or in the downtown area. The savings you can take advantage of by working remotely in a much more affordable area can be significant.
For instance, let’s say your employer is located in Seattle. Right now, the average home price is $900,084, according to Zillow.
Instead of living in Seattle to be close to work, you can live somewhere not too far from the city where homes are half the price. For instance, Lakewood is only about 5 miles from Seattle, but home prices here average $482,834. That’s quite a difference from what you’d pay to live in Seattle.
Working remotely may open up new possibilities for your home search. Let’s connect to discuss your options and your priorities.
Are you ready to start your home search to find the perfect place to set up a home office and are ready to apply for a mortgage? If so, Sammamish Mortgage can help. We are a local mortgage company from Bellevue, Washington, serving the entire state, as well as Oregon, Idaho, and Colorado. We offer many mortgage programs to buyers all over the Pacific Northwest and have been doing so since 1992. Contact us today with any questions you have about mortgages
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.