How can real estate investors boost success by renovating properties with the new remote workforce in mind?
Sixty percent of the workforce is on its way to working remotely. That’s a massive percentage of the U.S. and international housing markets. Some are self-proclaimed digital nomads, and others just enjoy working from home. Unfortunately, housing hasn’t been designed for these workers for decades. Much of the current housing stock doesn’t appear to be the right fit. By tailoring remodeling jobs and investment opportunities to this giant pool of renters, home buyers and new real estate investors can win big. There are millions of individuals and families to serve in this niche. That means a high volume real estate business opportunities worth billions, and premium spreads for those that brand themselves in this rapidly growing sector. So what do remote workers want and need when it comes to real estate? How can properties be better designed and marketed to meet their needs and house shopping checklists?
What Remote Workers Need
Remote workers now run the full spectrum of roles, from basic data entry assistants to professional bloggers and consultants. There locations and paychecks may vary considerably, but they all share a few common housing and real estate needs:
- Fast internet connections
- Reliable communication lines
- Efficient home workspace
- ‘Affordable’ housing due to flexible income
- Privacy and quiet work spaces
- Proximity to outside engagement, inspiration, and entertainment
- Opportunities to invest in tangible assets offline
If you already work from home or on the road, you should have a lot of empathy for remote worker’s needs. You can’t carry on serious business with four kids screaming in your ear and bouncing on your lap. You need a good background for Google Hangout and Face Time video calls. You can’t afford not to be online, with a reliable and reasonably fast internet connection. Close proximity to back up internet connections and electronics stores for replacing devices on the fly can be a big bonus too. There has to be something outdoors, nearby where you can take a break and recharge regularly as well.
There is also a substantial and urgent need to invest in real estate. Remote workers are often 100% invested in the digital economy. If the tech world crashes or their roles become extinct, they have to have an offline financial back up. That means residences, income properties, built up equity, and more.
Today’s remote workers are renters, homebuyers, and real estate investors too. They need affordable, well located apartments, larger single-family homes, vacation rentals, fractional ownership opportunities, and may be even land to build their dream homes on later.
Real Estate Marketing to Remote Workers
Investors can perfectly design real estate and investment opportunities for these remote workers, but it might not have the results they expect, unless they make some noise about it. If your properties and opportunities help solve these issues, then let people and real estate agents know about it.
Perhaps your properties have separate in-law suites that could be used as home offices. How about extra bonus rooms, high speed internet access, or are close to hot startup zones. Let people know in your fliers, online property listings, and via social media, and remote worker forums.
Highlight these features, and look for the best channels to connect with those looking for them. This may even be a great bridge for gaining corporate referrals or providing corporate housing. Those really looking to own this niche may even work with local businesses to run shuttles to corporate offices, or include passes to local co-working spaces, or related events.
Remodeling Ideas for Serving Remote Workers
7 remodeling ideas for gaining ground in this real estate niche:
- Add separate home offices
- Create flexible and convertible spaces in smaller apartments
- Include high speed internet
- Build in stylish workspace
- Add soundproofing
- Stage homes for sale and rent with office furniture
- Add additional units where legal to produce income and help them ‘house hack’
Summary
Serving remote workers is a huge and growing real estate niche. It doesn’t necessarily have to cost much extra to position properties and opportunities to serve them either. So how can you use these remodeling ideas to increase your business volume?
