WILL SANTA BARBARA HOME SELLERS BENEFIT?
According to a new study revealing the trend toward post-pandemic relocation, about a third of U.S. homebuyers are planning to relocate to places like Santa Barbara, as long as they’re allowed to continue to work from home. This second wave of pandemic-driven relocation migration is the result of lifestyle preferences rather than proximity to the office, just like the first wave.
It’s clear that employees prefer to work from their home offices, like the one pictured above from my Premier Mediterranean-style Ennisbrook Estate listing. This office is located in one of the Ennisbrook estate’s two additional structures: the pool house, which has its own fireplace and kitchenette. The stately grounds host a number of places to retreat for some inspiration during the workday, including a gorgeous pool and stone spa, an outdoor kitchen, 4 outdoor fireplaces, multiple entertaining patios and loggias, a koi pond, and a raised bed vegetable garden, productive fruit trees and a vibrant rose garden. Imagine all the work you can get done while capturing the essence of idyllic Montecito living while taking full advantage of the community’s coveted indoor-outdoor lifestyle.
A recent survey found that 1,400 people moved in November and December across 32 major U.S. housing markets. Many of those who have already moved in the first wave didn’t go far. In fact, 30% of those who have moved are within 50 miles of their former home. And 23% of today’s house hunters say they are looking to move somewhere in the same radius. Only 4% moved more than 50 miles away, with 10% saying they would like to do so. That makes Santa Barbara a prime locale for people looking toward post-pandemic relocation away from Los Angeles.
The Pandemic Has Been a Massive Experiment in Telecommuting
Up to half of the members of the American workforce are currently working from home. That number is more than double the fraction who worked from home—at least occasionally—in 2017-18.
And it’s not looking like many of these employees will be required to go back to the office after the pandemic ends. Turns out working from home is good for both employees and employers. Research shows that working from home can boost employee productivity, improve work/life balance and foster better mental health – not to mention reduce pollution from commuters.
Working From Home, A Sign of Privilege
According to remote work experts, working from home is a viable strategy for many businesses, which is likely to be true even after the crisis is over. Even so, millions of Americans—from grocery clerks to ER physicians—don’t have that luxury. And AARP analysts have noted that many older workers live in places with lousy broadband access; making remote work difficult or impossible. (Here’s a list of the top 10 internet providers in the area.)
Benefits of Working From Home
There are many benefits when it comes to working from home, especially here in beautiful Santa Barbara. You have no commute, you have more power over your time, and you can dress how you like and arrange your workspace however it suits you. When you work from home, it’s easier to grab lunch with a friend or partner and not be obliged to stick with coworkers during the day. You can also see more of your kids in the mornings and evenings.
It’s easy to take breaks as needed without the judgmental sidelong glances from coworkers or supervisors. That means you can stretch as needed, get in a short walk or a bit of quick exercise, and give yourself the mental break to go with the physical one. You will also be able to eat more healthfully: stocking your kitchen with nourishing foods rather than chips and nuts as the only snack options.
But what you may not know is that people who primarily work remotely out-earn the average in-office worker. And not by a few hundred bucks a year, either, but by a solid 28%. There are many tax benefits as well. Talk to your tax advisor about how you can save when working from home.
Even companies benefit by allowing their employees to work remotely. In fact, a business can save a decent amount of money when they don’t have to provide you a physical space to work. Another benefit for companies is that employees are not consuming resources like coffee and snacks, paper and pens, and even water and electricity.
If you’re considering mid- or post-pandemic relocation, and are in the market to move to Montecito, Hope Ranch or any of Santa Barbara’s upscale communities, I have some excellent properties to show you. Take Montecito’s Iconic Masterpiece of International Style Architecture listing pictured here. Known as one of the most identifiable luxury homes in the area, this stunning property is a superb example of International Style architecture. Situated on nearly one-half-acre above pristine Butterfly Beach, just up Channel Drive from the world-renowned Four Seasons Santa Barbara Biltmore, the dramatic home was influenced by the works of internationally-acclaimed architect Richard Neutra.
Want to move to the American Rivera? I’m your agent. My discerning clients know they can count on me to both buy and sell their real estate assets, which makes both transactions easier. While many buyers are purchasing homes based on virtual tours alone, getting the full measure of a property can be pretty tough. But being a long-time resident of Montecito and an active member of the community gives me the insight these buyers need.
Contact me at (805) 886-9378 or email me at Cristal@montecito-estate.com and let me do the rest!