Remote Work Means Affordable Homes

Posted on | March 6, 2020

If you move, remote work may come.

While the real estate market isn’t necessarily a “Field of Dreams,” employers and real estate experts are making the connection.

With tight housing affordability, homeowners and soon-to-be homebuyers are wanting to move to more affordable locations – but what does that mean for their current job?

Redfin’s recent survey found that many companies are now more willing to allow workers to move – with unemployment at its lowest level, and technology enabling employees to work easily from home, it seems like the smart move to make.

The survey showed that one in four of those who moved have worked remotely more frequently after the location change. Respondents of the survey listed more affordable housing for their main reason to move (25.7%), with proximity to family/partners as their second reason (21.2%).

Daryl Fairweather, Redfin’s Chief Economist, explains, “One way employers may be battling salary increases and supporting retention is by offering employees the ability to work remotely instead of higher wages. For employees, the change to work remotely allows them to move to a more affordable place while maintaining their salary.”

Check out Redfin’s Infographic below:

*infographic from Redfin

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