The COVID-19 pandemic has led to a significant increase in remote work, and this trend is expected to continue even after the pandemic ends. As a result, the real estate market is seeing some significant changes, including the rise of “Zoom towns” and the demand for second homes and vacation properties.
- Zoom towns: The trend of remote work has led to a surge in demand for homes in areas with good internet connectivity, as people are no longer tied to living near their place of work. These areas, which have been dubbed “Zoom towns,” are often located in more rural or suburban areas and offer a more affordable cost of living compared to major cities.
- Demand for second homes and vacation properties: With the ability to work from anywhere, more people are considering the purchase of a second home or vacation property as a place to work and relax. These properties are often located in areas with desirable amenities, such as a beach or mountain view, and offer a change of scenery for those who are tired of working from home.
- Increased demand for home office space: As more people are working from home, there is an increased demand for homes with dedicated home office space. This could include a separate room or a designated area in a common space, such as a spare bedroom or den.
The trend of remote work is having a significant impact on the real estate market and is likely to continue to shape the way we live and work in the future. If you’re considering buying a second home or vacation property, it’s important to do your research and consider factors like internet connectivity, the local real estate market, and the amenities and activities available in the area.