Life is so unpredictable, we truly never know what’s next. In one moment, things in our lives can drastically change, which is just what we experienced with COVID-19. In just a moment, a virus catapulted us into a new reality, one where we’ve been forced to work at home and to social distance.
A reality where we have to wear a mask just to walk outside or go to the store. A new reality where we have to wash our vegetables and all our groceries upon arriving home. A new reality where we worry about getting sick daily. It’s truly a new kind of reality. One which may even cause a shift from city living to suburban living.
COVID-19 Led to a New Reality
While for many, it’s been a tough situation, for others it’s been an awakening. Many have since decided that they enjoy working remotely and/or having more time which they can use to spend with their families, exercise, or catch up with their home errands and chores that they hardly had time to do before. Conversely, others who have been laid off have started their own companies or leaned on government support in order to survive. Essentially, many are re-discovering what matters most and taking a step back to re-analyze their whole living situation at home.
COVID-19 Led To Remote Work
Because of this awakened desire and need to work from home, several companies have allowed their employees to choose whether or not they want to continue working from home indefinitely, which changes everything completely. From Twitter to Facebook, there are numerous brands allowing their employees to now work from home indefinitely.
COVID-19 and Real Estate?
You may wonder, what does this mean for real estate? Would those in the city, who are working from home in tight quarters with their laptops perched on laundry baskets want to move out into something more comfortable? Would those entrepreneurs want to stay in the city if they aren’t at the same job as before?
COVID-19 Studies
According to a recently released survey by Zillow Group, 75% of Americans working from home due to Covid-19 would prefer to telecommute at least half of the time once the pandemic subsides, and 66% said that they would move if their job allowed them to telecommute. Another study by Redfin showed similar results. In their study, 50% of respondents in cities said they would consider moving out of the city if work-from-home became permanent.
Both studies suggest that there will be a suburban boom; city residents may want to move to larger homes in the suburbs. This would allow them to have more space, extra rooms, and office space to replace their smaller work-at-home offices. Without the need to commute to the office, residents would not have to worry about gas or time. Why stay in a city where they are cramped in a small work-at-home office when they can have a lavish and large office area in a safe neighborhood within the suburbs?
Remote Work Leads To Many Questions
This is a question that many are going to be asking in the next few months as this pandemic comes to a close. For those who are working remotely, they may ask whether or not they can continue to work at home. If so, it leaves them with many questions such as whether they want to stay in the city or to move out to the suburbs. If many do move out to the suburbs, what will the cost of city living look like? With lower demand, would the cost of city living be decreased? Or will it stay the same? There will be so many questions and time will be the only determining factor.
Questions for You
Where are you living now and what would you do if you lived in the city and were given the option to work remotely? Would you stay in an apartment or would you move out to the suburbs? Let us know in the comments below!
Michele Christine Weinstein is a motivational writer, content creator, freelance writer, and entrepreneur who utilizes her life story and pre-medical background to inspire others. She believes in the power of our stories and encourages all to share their stories of struggle on a platform that she founded called Not a Standard. Outside of work, Michele enjoys kayaking, walking her dog, and working out. She also enjoys a good home-decor project, although it usually results in bloopers (which she later shares on social media for good laughs and instructions!). She’s always sharing her projects, bloopers, and little motivational quotes (which she calls Michele-isms) on Instagram, so check her out. And stay tuned for what her story entails next. It may just be great.
*Contributions are solely guest opinions and don’t reflect the opinions of or are endorsed by WYL, our staff, clients or other interested parties.