Working From Home Is Changing Real Estate
The world is a vastly different place compared to 3 months ago. And from inside an entirely new normal has risen an interesting new dynamic: how we think about where we live, or even where we want to live, has changed. Even more interesting is what catalysed the new way of thinking about where we live. Working from home.
Company work from home policies mostly started out as merely coming up with effective ways in which to keep workers safe from health-related harm. This has proved an exceptional valuable teacher. The minute we realised we were actually able to ‘keep up the good work’ regardless of location or physical proximity, we began venturing in the direction of daring to imagine stepping away from large office blocks, troublesome lease terms and expensive real estate developments for good.
90 Days To A New Us
It’s a trend most prominently visible in the US. Large global corporations are either adopting a partial work-from-home policy, or completely going all-out remote. Twitter has in fact already instituted a 100% remote employment policy. And companies like social media giant Facebook, banking behemoth Barclays and even Mondelez are all considering following suit and making the shift from corporate real estate to home-based remote work and interaction a thing of permanence.
Interesting to note too – very much so, in fact – is that psychology has long recognised that any new habit takes on average 3 months to form, as does trust developed in any new routine. Coincidence this most definitely is not given humanity’s current timeline and trajectory.
Workers are of course mostly rejoicing in the new work-from-home normal swing of everyday life. Flexibility is a luxury, and not having to travel and commute is an amazing time-saver. Which of course translates to more time available to spend with family, playing the online pokies NZ offers, and on whatever else it is that makes a certain human tick.
We’ll Move If We Can
According to Facebook’s Mark Zuckerberg, a recent inter-company survey revealed that roughly 75% of Facebook employees, when posed with the question of whether or not, if given the choice, they would consider moving town or city or even from the suburbs to quieter areas away from the inner-city bustle, answered with a resounding ‘yes’.
This clearly reinforces the idea that people really are becoming increasingly more interested in the idea of ‘quality of life’ preferred over living where all the downtown-action is perceived to be at. This means wanting to live on a house on a hill in the country preferable over occupying a modern lock-up-and-go condo in the burbs.
A Matter Of Equal Footing
This may even bring about a shift in how property is valued and priced. Occupying real estate in the suburbs is generally up to 40% more costly than occupying real estate situated outside of major city-limits. This may eventually even lead to land-grabs as money starts to flow in the direction of home building instead of inner-city block investments.
A potentially positive result is a paid work force at long last being re-distributed into a more balanced and equally distributed setup.