How Working From Home is Affecting the Property Market
With the rise of remote working since the beginning of the COVID-19 pandemic, demand for a home office has certainly picked up. However, it’s not all that’s been affected by the property market.
The Simple Property Life
Place Paddington Director and Lead Agent, Andrew Degn, says remote work has seen buyers and sellers crave a quiet and peaceful lifestyle, complete with homegrown veggies and a dog.
“We have found that many people have decided to buy a nice little house with a little yard, so they can get a dog, grow some veggies and have an open-air lifestyle.,” says Degn.
Real Estate Interior Changes
Interior requests are changing as well, with people asking for an increase in general space, both for adults and children. In addition, the functions of current living areas are changing.
“It might not be a media room anymore – it’s an office catering for all parties, whether it’s mum and dad, or the kids studying,” says Degn.
Interested in more content on how working from home is affecting the property market? See also: COVID Has Reshaped Our Living Arrangements
Remote workers have encouraged real estate agents to change the way they think about and organise their jobs, as sellers working from home are now present during inspections.
Degn explains that real estate agents are conducting inspections in a different way to avoid disruptions if home owners are working from home and to ensure inspections are aligned with restrictions. The home owners have also become a part of the inspection, as agents find themselves selling the homeowner’s lifestyle; not just the home. Virtual tours such as those offered by Little Hinges, can help agents manage crowds with virtual open homes, ensuring that genuine buyers are the ones visiting the properties.
As restrictions lift and workers are beginning to return to the office, we are seeing a real mix of home office users and office commuters. Real estate agents are encouraged to think outside the box when it comes to conducting inspections, marketing properties and liaising with sellers and buyers.