How Affordability and Remote Work Are Changing Where People Live

<article class="post-1130036 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1130036"><span class="entry-date">July 22, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">How Affordability and Remote Work Are Changing Where People Live</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=How+Affordability+and+Remote+Work+Are+Changing+Where+People+Live&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhow-affordability-and-remote-work-are-changing-where-people-live%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
<div class="fb-share-button display-inline-block" data-href="https://gilliggroup.com/blog/how-affordability-and-remote-work-are-changing-where-people-live/" data-layout="" data-size=""><a class="facebook solid fb-xfbml-parse-ignore" data-tracking="Post,Social Post Link Clicked,Twitter" href="https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhow-affordability-and-remote-work-are-changing-where-people-live%2F&amp;src=sdkpreparse" target="_blank"><span class="force-hidden">Facebook</span></a></div>
<a class="pinterest solid display-inline-block" count-layout="horizontal" href="https://pinterest.com/pin/create/link/?url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhow-affordability-and-remote-work-are-changing-where-people-live%2F&amp;description=How+Affordability+and+Remote+Work+Are+Changing+Where+People+Live" target="_blank"><span class="force-hidden">Pinterest</span></a>
<a class="linkedin solid display-inline-block" href="https://www.linkedin.com/shareArticle?mini=true&amp;url=https://gilliggroup.com/blog/how-affordability-and-remote-work-are-changing-where-people-live/?shareSlug%3Dhow-affordability-and-remote-work-are-changing-where-people-live" target="_blank"><span class="force-hidden">LinkedIn</span></a>
<a class="email dashicons dashicons-email solid display-inline-block" href="mailto:?subject=From gilliggroup.com: How Affordability and Remote Work Are Changing Where People Live&amp;body=How Affordability and Remote Work Are Changing Where People Live%0D%0Dhttps://gilliggroup.com/blog/how-affordability-and-remote-work-are-changing-where-people-live/" target="_blank"><span class="force-hidden">Email</span></a>
</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="How Affordability and Remote Work Are Changing Where People Live Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20240722-How-Affordability-and-Remote-Work-Are-Changing-Where-People-Live-original.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width=""/>
<p>There’s an interesting trend happening in the <a href="https://www.simplifyingthemarket.com/2024/07/12/how-do-presidential-elections-impact-the-housing-market-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">housing market</a>. People are increasingly <a href="https://www.simplifyingthemarket.com/2024/07/11/why-moving-to-a-smaller-home-after-retirement-makes-life-easier/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">moving</a> to more affordable areas, and remote or hybrid work is helping them do it.</p>
<h4><strong>Consider Moving to a More Affordable Area</strong></h4>
<p>Today’s high <a href="https://www.simplifyingthemarket.com/2024/06/18/worried-about-mortgage-rates-control-the-controllables/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">mortgage rates</a> combined with continually rising <a href="https://www.simplifyingthemarket.com/2024/06/12/home-prices-arent-declining-but-headlines-might-make-you-think-they-are/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">home prices</a> mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at <em>Zillow</em>, <a href="https://www.cnbc.com/2024/01/23/10-metros-where-people-are-moving-for-affordable-housing-good-jobs.html" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote><p><em>“Housing affordability has always mattered . . . and you’re seeing it across the country. </em><strong><em>Housing affordability is reshaping migration trends.</em></strong><em>”</em></p></blockquote>
<p>If you’re hoping to <a href="https://www.simplifyingthemarket.com/2024/06/19/what-you-need-to-know-about-todays-down-payment-programs/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">buy a home</a> soon, it might make sense to broaden your search area to include places where homes that fit your needs are more affordable. That’s what a lot of other people are doing right now to find a home within their budget. <em>Extra Space Storage</em> <a href="https://www.extraspace.com/blog/moving/where-are-people-moving/" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<p><em>“55% of American adults are looking to relocate to a different state or city for more affordable homes and lower costs of living. . . Specifically, states with a strong economy, lower costs of living, and remote work options continue to be the ideal places to live in the U.S.”</em></p>
<h4><strong>Remote Work Opens Up More Home Options</strong></h4>
<p>If you work remotely or drive into the office only a few times each week, you have many more possibilities when looking for your next home. That’s because you can cast a broader net and include more suburban or rural areas nearby. As <em>Market Place Homes</em> says:</p>
<blockquote><p><em>“</em><strong><em>People start to reconsider where they want to live when commute times are slashed in half or eliminated altogether.</em></strong><em> If they have a longer commute but don’t have to do it daily, they may feel like they can tolerate living farther away from their job. Or, if someone works entirely remotely, they can move to a cheaper area and get a lot of house for their dollar.”</em></p></blockquote>
<h4><strong>How a Real Estate Agent Can Help</strong></h4>
<p>A real estate agent can help you find the <a href="https://www.simplifyingthemarket.com/2024/07/10/the-price-of-perfection-dont-wait-for-the-perfect-home/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">perfect home</a> for your budget. They’re especially valuable if you’re moving to a new, unfamiliar area. <em>Bankrate</em> says:                                                                                         </p>
<blockquote><p><em>“If you’re moving far away, you may not have a good idea about which neighborhoods or towns will be the best fit. </em><strong><em>An experienced local agent can help you find the lifestyle you’re looking for in a home you can afford.</em></strong><em>”</em></p></blockquote>
<p>So, if you’re thinking about relocating to somewhere with more affordable homes, what are you waiting for? With the added flexibility of remote work, you might have more options than before.</p>
<h3>Bottom Line</h3>
<p>Dreaming of a place where your money goes further? Connect with a real estate agent so you have someone to help you find your <a href="https://www.simplifyingthemarket.com/2024/06/26/focus-on-time-in-the-market-not-timing-the-market/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">next home</a>. Together, you’ll make your dream of homeownership a reality.</p>
</div>
</div></article>