Housing prices aren’t the only driver of housing demand. Where, how and when people earn an income can also influence demand for certain types of houses. In fact, over the next several years, a changing workforce could impact the housing market significantly. Where and when people work is expected to potentially shift commuting and home lifestyles more than it has in decades.
Greater work freedoms may trigger certain types of housing demands
Consulting firms share that the numbers of people working from home is expected to keep ticking upward. To meet their client needs, these workers may establish a home office that not only allows them to complete day-to-day projects, but that is also large and stylish enough for them to hold client meetings in.
Despite their specific housing needs, people who work from home could build into a powerful movement. They are certainly expected to have the numbers. For starters:
- By 2020, America’s workforce may consist of 50% freelancers
- Gig economy is growing, thanks to companies like Uber, Lyft and eBay and advancing technology
- Freelancers want homes that separate their office space from their private, living space
- Designs that allow freelancers to work while keeping an eye on young children
- Designs that let two freelancers work out of the same home without disturbing each other or encroaching on each other’s work space
What freelancers and consultants want in a home office
Specific types of amenities that people working out of a home office may need will depend on the home office worker’s customer base and the products and services that the home office worker provides. Here are basic amenities that Americans working from home could request:
- Large windows – Writers, marketers, web designers and consultants could spend three or more hours working out of their home office. Windows help to link these professionals to the larger world.
- Space bedroom or home office
- Surplus of electrical outlets – These would be used to connect copiers, printers and computers
- Privacy – Because people who work from home may put in long hours, it’s important that they have enough privacy to keep from being disturbed by relatives in other parts of the house
Besides looking for certain layouts and amenities in houses, people who work out of a home office could change the housing industry by buying more houses with in-law suites. These properties fit dentists, private physician and life coaching professions. They allow professionals to conduct business in a space that’s separate from their living space.
In addition to finding these workers a house with the right existing amenities to turn a spare room into a comfortable office, realtors could look for traditional houses that either have a finished basement or a finished attic. Realtors could also find these professionals a house that’s built upon enough land for the homebuyers to expand upon the property, building and designing a home office that they could work out of for years.
