When remote work changed people’s relationship with their homes in the past year, many decided they wanted more space or wanted a more affordable home in an area with lower taxes, so they relocated.
According to a survey conducted by online real-estate broker Redfin, 68 percent of people who relocated have the same or lower housing costs after their move and 64 percent have a house that’s the same size or bigger than their previous home. Most of these homebuyers moved to areas with more affordable housing.
In addition, 78 percent of movers had the same or more disposable income after their move, 80 percent have no regrets about their move and 80 percent are happier since their relocation, the survey found. A quarter of people polled (24 percent) said they had “much more disposable income” after the move.
Los Angeles-based Redfin agent Lindsay Katz said she worked with a Los Angeles couple who moved to Ohio because the wife was able to work remotely.
“The house sold for more than $1 million and they bought a nice home in Ohio for around $400,000,” Katz said in a statement. “The husband had been a teacher in Los Angeles, but now he’s able to stay home and raise the kids because they’re saving so much money.”