Introduction
Pandemic has changed many parts of our lives and lifestyle. It has affected every sector and altered the way we do things. Among other things – one key thing that was changed because of the pandemic is the office culture. The already rising trend of remote working was further accelerated by the pandemic.
It brought the work-from-home trend to the forefront. Various reports claim that the work from home trend is here to stay – with many leading companies already declaring permanent work from home options for their employees. This trend has altered the way of what buyers look for in a property and their view on family and life.
Keep reading to find out how work-from-home affected property search.
5 ways to work from home is changing the way people search for properties.
Expanding the geography of the home search.
Due to the option of work from home, the need for looking for properties near office spaces is no more. With the possibility of permanent work from home, buyers are expanding the bandwidth of their property search. Be it or sea change or a tree change, they can now re-locate to their desired location. People are choosing places where they can explore their hobbies and spend time in nature as they are saving so much time in the commute. More and more people are looking for properties away from the city in the outskirts.
More demand for land estates.
According to the data collected through various researches, the demand for the land estate has surged while cramp apartments near the city centre are getting less desirable. People want their homes to be spacious – now they can afford to buy land estate wherever their budget permits as they don't have the need to stay close to the city. After the trend of work from home – job opportunities no longer dictate the area of residence.
Multi-generational living in the same household.
According to the data – every 1 in 5 Australians is living in multiple generation households, and the trend is only rising. People are looking for complexes or big land estates where multiple generations of the family can live together. While social distancing made getting the helping hand from families difficult, the pandemic has made everyone realize the value of family time. Demand for homes where people can live together and still have their personal space sees a surge.
Home with dedicated office space.
Even though people are working from home – they still would like to keep their personal and work life apart. Buyers want walled or flexible spaces within their house that can work as a private home office. Homes that offer a bonus bedroom or a finished basement or attic space are often in greater demand.
Gardens, balconies, and retreats – are in demand.
Pandemic has made buyers realize the importance of open spaces within their home – and you can see this realization in the changing demands. Homes with open areas like private gardens, balconies, and backyards are seeing a rise in demand. Searches for balconies and studios also increasing by more than 50 percent.
Buying commercial property for co-working spaces.
Another trend that is seeing the rise in demand to buy commercial property for co-working spaces.
According to work-life co-working space founder "The problem with working from home full time, as most people who have done it this year know, is that it's lonely, there's a whole lot of distractions involved in domestic settings and the technology available at home is often not sufficient for a seamless work experience."