There’s an intriguing trend in the housing market: more people are relocating to affordable areas, facilitated by remote and hybrid work models.

Consider Moving to a More Affordable Area

Current high mortgage rates paired with rising home prices make homeownership challenging for many. Consequently, prospective buyers are seeking more affordable locales with lower living costs. As Orphe Divounguy, Senior Economist at Zillow, notes:

“Housing affordability has always mattered... and you’re seeing it across the country. Housing affordability is reshaping migration trends.”

If you’re aiming to buy a home soon, expanding your search to include more affordable areas could be beneficial. Many people are doing just that to stay within budget. Extra Space Storage explains:

“55% of American adults are considering relocating to a different state or city for more affordable homes and lower living costs... States with a robust economy, lower costs of living, and remote work options remain ideal.”

Remote Work Opens Up More Home Options

Remote work or infrequent office visits provide a wealth of home location possibilities, allowing you to explore suburban or rural areas. Market Place Homes observes:

“People reconsider their living arrangements when commute times are drastically reduced or eliminated. They may tolerate a longer commute if it’s infrequent, or move to a cheaper area if they work entirely remotely, getting more house for their dollar.”

How a Real Estate Agent Can Help

A real estate agent is invaluable in finding the perfect home within your budget, especially if you’re moving to an unfamiliar area. Bankrate highlights:

“If you’re moving far away, you may not know which neighborhoods or towns suit you best. An experienced local agent can help you find the lifestyle you desire in an affordable home.”

So, if you're considering relocating to a more affordable area, what’s stopping you? With the flexibility of remote work, you might have more options than ever before.

Bottom Line

Dreaming of a place where your money stretches further? Let’s connect to help you find your next home. Together, we’ll turn your homeownership dream into reality.