- COVID-19 has affected the way we live in many ways, and for some people, that includes where they live.
- For those who have the ability to work remotely, the option to move to a “Zoom town” may be appealing.
- There’s been a major shift in real estate as this transition to Zoom towns occurs.
Throughout 2020, we’ve witnessed COVID-19 affecting the way we live in many ways. Perhaps unexpectedly, it’s also affected where many people live.
As remote workers realize that they can work from anywhere (and their children can attend school remotely as well), we’re seeing an increase in real estate transactions. If you prefer to spend more time at a lake house, you can. Maybe you went south to warmer weather and have decided to stay through the winter. Perhaps you love to ski and now you can live near a mountain range.
The relocation opportunities are endless and, as a result, we’re seeing Zoom towns pop up. Typical vacation spots, such as the Hamptons, the Adirondacks, Illinois’ Lake Geneva, and places throughout the country, are seeing people staying beyond their usual vacation time.
No longer tied to a geographical place, not having to commute to an urban center, workers are recognizing that aspects of their lives may benefit from moving to a Zoom town. Rather than choosing their homes based on proximity to work, they’re looking for places that prioritize other important things, such as cleaner air, less noise pollution, more space, being closer to extended family, and having access to mountains, lakes, and parks.
While it’s unclear where this trend is heading, it’s clearly a trend that’s occurring in this country. You may have experienced it yourself or know of someone who’s made the transition to a Zoom town. Time will tell how it affects you, your family, your investments, and other aspects of your life. Until next time, enjoy.
Gary Klaben is in our Glenview, IL office and serves our clients who are now located all over the country. He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business Battlefield. Whether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.
Learn more about The Coyle Process, approach designed to get your arms around the big picture, so you can make informed financial decisions. Ask Gary about The Coyle Process and schedule a complimentary consultation and start living the Good Life Managed Well™.
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