Is Your Home Providing a Good Return on Life?
Why do I live here?
As the country continues to reopen following the COVID-19 lockdown, many people are starting to ask themselves that question.
The pandemic has upended one of the strongest traditional reasons for picking a place of residence: our careers. The way we all work could be headed for a major transformation. If your job is no longer tied to a particular location, your home doesn’t have to be either. And as a result, three other factors could have a greater impact on where we decide to live in the future.
1. More space between home and work.
For health, safety, and economic reasons, companies will keep moving jobs that can be done outside of a traditional office environment online. As our connection to physical office spaces decreases, technology like Zoom, Slack, and Google Docs will allow us to keep collaborating with and learning from co-workers. In fact, our work experiences, skills, and connections could grow as these online offices spread across the country and even across the world.
These new professional options could also open up new living options. You might be able to move away from your current employer while keeping your current job. Or, if you’re happy with your home, you might be able to take a dream job on the other side of the country without uprooting your family. Imagine having access to major metropolitan job markets without having to worry about the cost of living in a major city. You could earn more while spending less and still maintain your family’s ideal lifestyle.
2. More room to explore.
We often use travel to unplug from the bustle of our daily lives or to explore interests we can’t always make time for. If your job is moving online, maybe you’d like to move your home to a favorite getaway spot. Your vacation golf course could become your regular golf club. Museums, theaters, and other cultural organizations you visit on special occasions could become a permanent part of your social calendar. Long walks on the beach could become your new daily exercise routine.
Remote work could also allow you to change your home environment in ways that better suit your family’s needs. Getting out of the city might mean a bigger yard for your kids and schools with smaller class sizes. If you’re an empty nester, moving into a downtown condo might make for a more manageable home and a wider range of entertainment options. And if you’re happy where you are, this might be the time to tackle remodeling projects you’ve been putting off. After all, if you’re serious about making the switch to remote work, that closet you’ve been calling a home office probably won’t cut it.
3. More opportunities to connect.
The lockdown gave all of us a newfound appreciation for our loved ones. Through video chat and social media we checked in regularly with friends and family we might only see once or twice a year under normal circumstances.
As social distancing restrictions continue to ease, you might be thinking about moving those virtual connections into your daily life. If work pulled you away from your loved ones, you might now have an opportunity to move where you have stronger personal connections. The people who helped you make it through the lockdown could also be the people who will make the next chapter of your life more fulfilling.
We’re all processing these and other big picture changes in unique personal ways. If COVID-19 has had a major impact on how you think about your work, your life, and your home, let’s schedule a video chat. Together, we can reassess your most recent Financial Lifeline and discuss if there are any major transition points we should replot or adjust so that you can get a better Return on Life.