Consider Moving to a More Affordable Area
Today’s high mortgage rates and continually rising home prices make it tough for many to afford a home. That's why many buyers are eyeing places where homes are cheaper and the cost of living is lower. Orphe Divounguy, a 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 planning to buy a home soon, consider expanding your search to more affordable areas. This is a strategy many are adopting to find homes within their budgets. According to Extra Space Storage, "55% of American adults are looking to relocate to different states or cities for more affordable homes and lower costs of living. States with a strong economy, lower living costs, and remote work options continue to be ideal places to live in the U.S."
Remote Work Opens Up More Home Options
Remote work has changed the game. If you work remotely or commute only a few times each week, you can look further afield, including more suburban or rural areas. Market Place Homes observes, "People start to reconsider where they want to live when commute times are slashed or eliminated. If they have a longer commute but don’t do it daily, they may tolerate living farther from work. Or, if someone works entirely remotely, they can move to a cheaper area and get more house for their dollar."
How a Real Estate Agent Can Help
Real estate agents are invaluable, especially if you’re moving to a new area. According to Bankrate, "If you’re moving far away, you may not know which neighborhoods or towns will fit best. An experienced local agent can help you find the lifestyle you want in a home you can afford."
So, if you're thinking about relocating to a more affordable area, why wait? With the flexibility of remote work, you might find you have more options than ever.
Bottom Line
Dreaming of a place where your money goes further? Let’s connect to help you find your next home. Together, we’ll make your dream of homeownership a reality.
