Remote Workers and Colorado Real Estate

remote workers

HOW THE REMOTE RENTAL MODEL WILL IMPACT RESIDENTIAL REAL ESTATE

We believe remote workers (teleworkers) will have a major impact on residential real estate. The reason we believe this is because:

large volumes of people are planning on moving from their current location now that they are not geographically tethered to their jobs
Colorado has always been attractive to remote workers because of our quality of life
Some people believe that remote workers will flee cities (because we are seeing an exodus from NY and SF), but we are not sure about that. As people that have worked remotely since 2016, we believe that access to other humans is important/desired and being in cities help that.

Remote workers are putting a premium on office space. This seems obvious, but it's now almost equal to their desire for a nice kitchen.
Nice office spaces are important for renters and buyers; therefore, it is important for landlords and sellers to make sure they have these spaces.
Offices should be upstairs, meaning bedrooms are being moved downstairs. It is better to go to sleep in the basement, where it is cold and dark, than it is to work in the basement, where it is cold and dark.
Remote workers want strong wifi, areas with limited noise and locks on the door.
Many sellers are converting unused media rooms into home offices.
Many buyers and renters are also looking for homes or properties that provide work stations for their kids.

Types of Properties Remote Workers Want. This really depends on who the remote worker is.

Singles/couples
- smaller spaces: studios, one/two and three bedroom condos will do
- animal friendly properties (catering to the new type of kids)
- properties with parking are desired
Families
- remote working families will want yards
- remote working families will need dedicated office spaces with privacy and locks
- remote working families are gravitating toward homes with study stations for their kids