{"id":995,"date":"2020-09-21T06:00:34","date_gmt":"2020-09-21T10:00:34","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=995"},"modified":"2024-04-25T23:20:29","modified_gmt":"2024-04-26T03:20:29","slug":"selling-your-house-working-from-home-may-impact-buyer-preferences","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/selling-your-house-working-from-home-may-impact-buyer-preferences\/","title":{"rendered":"Selling Your House? Working From Home May Impact Buyer Preferences"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2020\/09\/remote-work-home-buyers.jpg\" alt=\"Image of a computer sitting on a desk next to a cup of coffee in a home. Captioned: Working From Home May Impact Real Estate Buyer Preferences.\" class=\"wp-image-996\" width=\"389\" height=\"292\" srcset=\"https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2020\/09\/remote-work-home-buyers.jpg 778w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2020\/09\/remote-work-home-buyers-300x225.jpg 300w, https:\/\/www.deeds.com\/articles\/wp-content\/uploads\/2020\/09\/remote-work-home-buyers-768x576.jpg 768w\" sizes=\"auto, (max-width: 389px) 100vw, 389px\" \/><\/figure><\/div>\n\n\n\n<p>Appealing to work-from-home buyers can boost your home\u2019s profile. How much? To get an idea of the value placed on the work-from-home economy today, note that Apple, in September 2020, <a href=\"https:\/\/www.fidelity.com\/news\/article\/top-news\/202009150421RTRSNEWSCOMBINED_KBN26613O-OUSBS_1\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">introduced its holiday subscription sets<\/a> of TV shows, games, news, music and home workouts \u2014 all designed to cater to the work-at-home set. <\/p>\n\n\n\n<p>The office has shifted, and the work-from-home life is here\nto stay. With that in mind, let\u2019s look at what work-from-home buyers are\nseeking in a home itself, and how a seller can use this knowledge\nadvantageously.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">What\u2019s Driving the Market Now? Home Sweet Home Is More Appealing Than Ever.\n<\/h2>\n\n\n\n<p>Interest rates are the lowest they\u2019ve been in decades, and a\ngrowing number of millennials and post-millennials are hoping to take the\nplunge into ownership. Finding the right house will matter more than ever. In\n2020, with so many businesses rolling out work-from-home policies, research\nfrom Zillow indicates that they\u2019re especially drawn to spacious homes with good\nworking spaces. <\/p>\n\n\n\n<p>Around 40% of employees are now working at home, following\nhealth-related changes at their companies. And many of the newly remote office\nworkers are rethinking what they want and need in a home. Sellers are\nlistening, and heeding the cues. Home workspaces were touted in about 10% more\nfor-sale listings in spring 2020 than the previous spring.<\/p>\n\n\n\n<p>Home designers and renovators are also responding. New homes\nare being specially built with home-based workers in mind. They\u2019re taking into\naccount our rapidly changing views about what a home should be.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Boost Your Home\u2019s Profile. Think Like a Remote Worker Who\u2019s Buying a Home.<\/h2>\n\n\n\n<p>Who is your remote-working buyer? Some buyers are displaced\nfrom companies or organizations for reasons related to the 2020 upheaval. Some\nnow seek home-based work spaces to run small, independent businesses. Some are\ndoing jobs on a contract basis, not a salary, and it may take them some extra\ntime to receive an all-clear from a mortgage lender. Many more are well-to-do\nemployees of tech-focused companies. <\/p>\n\n\n\n<p>Of the 2,000 active home shoppers who answered questions for the Realtor.com\u00ae <a href=\"https:\/\/www.globest.com\/2020\/07\/31\/home-buyers-basing-decisions-on-work-from-home-realities\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">HarrisX survey<\/a> published in July 2020, more than half of those working from home have no plans to return to a corporate office from 9 to 5. Many are anticipating some style of remote work in their futures \u2014 even if it\u2019s a hybrid situation of office and home. More than half the people now working remotely prefer it, and they\u2019re ready to make it work for the long term. If a home office space, ample kitchens and gardens and an attractive community to live in didn\u2019t matter to them before, these things might be more relevant now.<\/p>\n\n\n\n<p>Right now, the newly remote are working creatively with what\nthey\u2019ve got:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Some already have an office space at home but want\nsomething better because they are working from home more than they used to.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Some currently have converted a room into an\noffice. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Some are working with a laptop on the kitchen\ncounter, and others have set up workspaces in other rooms during their work\nhours. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Others are struggling to work around their\nfamilies and attending to business from a variety of locations throughout their\nhomes. <\/li><\/ul>\n\n\n\n<p>Among respondents who <em>would<\/em> move, if they found work\nthat offered the option to work remotely, a significant number would be\ninterested in moving to more spacious homes with dedicated office spaces.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Broaden Your Advertising Scope to Draw Geographically Flexible Buyers. <\/h2>\n\n\n\n<p>Remember when living in a specific city was non-negotiable for people working at business hubs? How quickly things have changed. For today\u2019s rapidly increasing hybrid or remote job situations, the length of a commute isn\u2019t much of a factor. Many newly remote employees have their sights set on moving <em>because they can<\/em>, given their newfound capacity to work from practically anywhere they wish. Some are ready to <a href=\"https:\/\/www.redfin.com\/blog\/q2-2020-housing-migration-trends\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">migrate<\/a> from expensive cities, which they formerly chose for career reasons. <\/p>\n\n\n\n<p>This is uplifting the real estate market in places like Austin or Phoenix or even Palm Springs, where spacious houses with offices are affordably priced; real estate markets in the <a href=\"https:\/\/www.bpfund.com\/oakland-housing-forecast-remote-workers\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">San Francisco suburbs<\/a> and secondary cities such as Oakland are rebounding more quickly than the downtown markets. Many homes in these markets have dens, basements, and spare bedrooms that could become dedicated office spaces. Those homes were always much harder to come by in dense, expensive city markets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Make a Point of Mentioning Quiet Workspace, Storage, and Purified Air.<\/h2>\n\n\n\n<p>There are several ways to increase your home\u2019s remote\nworking appeal, depending on the type of home you\u2019re selling:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>If you have a rural home:<\/strong> If your home has been on the market a while, don\u2019t give up now. We may be at the start of an investment trend focused on homes in out-of-the-way locales. Appeal to buyers hoping to find the getaway they crave and live there for good. Talk up your home\u2019s biggest plus: plenty of undisturbed personal space. Upscale homes in remote areas can expect to draw more buyers\u2019 attention than they have in past, and consider that second-home buyers\u2019 market. An upscale home in the country can be marketed as a <a href=\"https:\/\/www.mansionglobal.com\/articles\/sellers-in-remote-areas-of-u-s-should-consider-keeping-their-listings-on-the-market-214116\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">vacation home<\/a>.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>If you have a suburban home:<\/strong> People\nworking for hybrid-remote companies are increasingly attracted to the suburbs\nor secondary cities. If your house, condo, or apartment property happens to\nhave a den, now is the time to stage it as office space for selling. Other\npotential office spaces may consist of a converted smaller bedroom, a sunroom,\na finished basement, or an accessory dwelling unit (\u201cgranny flat\u201d) on the\nproperty. Electrical outlets accessible to patio and deck space can also be\nhelpful to the buyer who is working at home and would enjoy plugging in at a\nbreezy spot at least occasionally. Any space that\u2019s insulated or separated from\ndistractions may have potential. Attic space can become extra storage space for\nthe remote office worker or home-based business.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>If you are selling a small house, or an urban house or condo:<\/strong> Small home? It may appeal to millennials, artists and entrepreneurs, as well as downsizing boomers. There are some important touches you can make in small spaces. For example, make a new or existing HVAC system more conducive to good health at home by having a <a href=\"https:\/\/www.youtube.com\/watch?v=lAbWpmSJ5vM\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">UV light installed in your air conditioning system<\/a>. Air quality is especially important if everyone\u2019s home, so the ability to advertise a home air purification system could be a big plus to buyers who see that your already have one installed. The reasons people buy homes in the cities, of course, are not just limited to where their careers take them. There will always be buyers who seek eco-friendly living in walkable downtown locations. Personal space is valuable, but so is a low-carbon footprint. If you\u2019ve got it, flaunt it!<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Whether You\u2019re Selling a Home in the Country, City, or Somewhere in Between\u2026<\/h2>\n\n\n\n<p>Be bold about creating and showing off a dedicated office\nspace. You might wish to point out to buyers that a room or well-sectioned\nspace in a room used exclusively for business (rather than space used flexibly)\ncan qualify for tax deductions.<\/p>\n\n\n\n<p>Many companies of all sizes learned, during the trial forced\nupon them in 2020, that they could operate using cloud-based systems. This\nturned <em>Zoom<\/em> and <em>Teams <\/em>into household words. This means the\nseller\u2019s strategy has to speak to remote workers, who now understand home life\nas encompassing business as well as pleasure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key Resources<\/h3>\n\n\n\n<p>In addition to the linked resources, the following are\nimportant references for this article.<\/p>\n\n\n\n<p class=\"has-small-font-size\"><a href=\"https:\/\/www.builderonline.com\/design\/consumer-trends\/remote-work-could-fuel-suburban-boom_o\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Remote Work Could Fuel Suburban Boom<\/a>, <em>Builder Online<\/em> (May 2020).<\/p>\n\n\n\n<p class=\"has-small-font-size\">Monsef Rachid, <a href=\"https:\/\/www.worldpropertyjournal.com\/real-estate-news\/united-states\/seattle\/real-estate-news-zillow-housing-reports-home-office-trends-coronavirus-impacts-on-homebuyers-11977.php\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">As Millions Forced to Work Remotely From Coronavirus, Home Offices in Big Demand from Potential Buyers<\/a>, <em>World Property Journal<\/em> (June 2020).<\/p>\n\n\n\n<p class=\"has-small-font-size\">George Ratiu, <a href=\"https:\/\/www.realtor.com\/research\/remote-working-coronavirus-pandemic\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Remote Work Gains Increased Visibility During Coronavirus Pandemic<\/a>, <em>Realtor.com<\/em> (March 2020).<\/p>\n\n\n\n<p class=\"has-small-font-size\">George Ratiu, <a href=\"https:\/\/www.realtor.com\/research\/home-buying-2020-remote-work-post-covid\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Remote Work Comes of Age in Coronavirus Era, Changing Housing Landscape<\/a>,<em>Realtor.com<\/em> (July 2020). <\/p>\n\n\n\n<p class=\"has-small-font-size\">Photo credit: <a href=\"https:\/\/unsplash.com\/photos\/smgTvepind4\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Chris Montgomery<\/a> on Unsplash. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Appealing to work-from-home buyers can boost your home\u2019s profile. How much? To get an idea of the value placed on the work-from-home economy today, note that Apple, in September 2020, introduced its holiday subscription sets of TV shows, games, news, music and home workouts \u2014 all designed to cater to the work-at-home set. The office [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-995","post","type-post","status-publish","format-standard","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Selling Your House? Working From Home May Impact Buyer Preferences - Deeds.com<\/title>\n<meta name=\"description\" content=\"The office has shifted, and the work-from-home life is here to stay. 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