The coronavirus pandemic has caused many companies to resort to remote work and the result to their surprise, has been higher productivity. Certainly, part of the reason is because employees can work varied hours and balance life-work demands. Also, the elimination of the time spent preparing to go to work and commuting, has added to the work day. As such, many companies are continuing the “experiment” or have already decided that work-from-home is here to stay.
A recent study has projected that
remote work could impact the homeownership rate for almost 2 million renter
households. This potential depends on
location, home affordability, and income level of the renters. In New York City, for most renters the price
of a spacious city apartment is out of reach, but the monthly rental is
affordable. In many cases therefore, the
option of purchasing in the suburbs has become feasible with the elimination of a
daily commute. Some renters have
actually made the decision to keep their apartments in the city for convenience
and move to a new home in the suburbs.
“The tipping point was envisioning
both of us working from home indefinitely alongside our daughter and a second
child on the way,” said Chris Chan. “We wanted to maintain the balance between
space and proximity to the city. We could get more for our money just outside
city limits and we’re still only 30 minutes from Grand Central Station.”
Proximity to New York City, brings
buyers to Long Island- where there is a wide range of home/condo prices. Many of these potential buyers are seeking to
escape tight quarters and afford themselves space to work with privacy and also,
have room for the family to live comfortably and safely.
The North Fork, which is roughly 2
hours from Manhattan, has now become a suburb of New York City! Who would have
thunk it!
Our ad today focuses on homes where
you can work and play. CALL US!!!!
Source:
RISMedia, September 9, 2020.
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