By Insurance 1011 Comment on More Renters May Become Home Owners Thanks to Telecommuting

While the COVID-19 pandemic has brought untold changes to the American public, some of the developments may have unforeseen benefits.

As millions of US employees have transitioned to a partial or full time telecommuting work day, the amount of money spent on travel costs has been cut drastically. Substantial reductions in fuel, tolls, auto maintenance, and rail or cab fares has saved US workers hundreds and thousands of dollars since the pandemic began.

Recent studies conclude that this may very well lead to a large increase in the number of individuals and families who are currently renting their homes that now have the financial independence to purchase a home.

Zillow: Nearly 2 million renters can become homeowners, thanks to telecommuting – HousingWire

Telecommuting is growing in popularity as more companies establish work-from-home protocols. With this new flexibility, nearly 2 million renter households could become homeowners, according to Zillow. Renters who are employed with a job that could be done remotely and might be priced out of their current market could afford to buy the typical starter home elsewhere in the U.S.

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