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Wendy Gimpel
Wendy Gimpel

Buying a Home as a Remote Contractor

The recent pandemic has caused a significant change in the way we work. Many people can now work remotely or from home as companies maintain their flexibility on how work gets done. Being a remote worker or contractor means you can do your job from virtually anywhere with Wi-Fi access. 

However, working remotely can complicate the home buying process since it is now a space you use for multiple purposes. Working remotely may mean you need additional space for an office or other needs depending on your job.

We love helping homebuyers find the perfect home for their unique needs, so we’ve put together a few things you should consider when searching for your new home as a remote worker.

Things to Consider in a Home as a Remote Contractor

Work vs. Living Space

The main downside of working remotely is that you end up working in the same space as you sleep, eat, and relax, meaning you spend most of your time in the same location. While this is convenient, it can also get challenging as the lines between your work and life blur, and it starts to feel like one never-ending workday. 

One way to combat this feeling is to ensure you have designated working and living spaces. Depending on your job, this may mean choosing a home with an extra bedroom to use as an office or finding a house with a garage that can be converted into a studio or workshop.

While this may make your home search a bit more challenging, ensuring you have separate working and living spaces will keep you happier in the long run, both with your space and your job. Make sure you know what you need to both do your job and enjoy your free time when you start the homebuying process.

Location Flexibility

On the other hand, one of the most significant benefits of working remotely is the flexibility of your work location. Most remote contracts or jobs do not require you to live near an office or other work location that you travel to and from each day, so remote workers in the market for new jobs can extend their net much farther than they previously could.

This means that you can now search for homes in areas where your budget will buy you much more than it may have near a downtown office or other area where housing is limited and in high demand. Economists at First American found that moving to more affordable markets where their budget goes further is becoming increasingly popular with first-time home buyers. Moving their home search away from expensive markets usually means buyers can afford more space and amenities and may have more options within their budget. This can be an ideal option for those homebuyers who need additional space in their home or on their property for remote work.

Wait Out the Market

As a remote worker, you can also use your location flexibility to your advantage by waiting it out until you find your perfect home. Because you can work from anywhere, you may want to consider renting a temporary space while waiting for your ideal home to hit the market. This could be in the area you are looking to buy in, so you can get a sense of what you like and don’t like about it, or in a cheaper area to save you some money to put towards your down payment. Use your remote work flexibility to your advantage by keeping a close eye on the market and moving quickly when you find your dream home. 

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