Buyers are relocating to Lake Tahoe for a variety of reasons, which has caused our local inventory to plummet and housing values to increase. With the current health crisis and economic issues, so many folks are wondering how the Lake Tahoe real estate market, along with so many others in our country, are thriving. The reality is that most households with a higher income were not financially impacted by the shelter in place orders. Their positions allowed them to not only continue working from home, but save money by not being able to go about their usual costly activities. So why are these buyers relocating to Lake Tahoe full time? Below are some of the main reasons.
Working from Home
Working remotely has been becoming the new norm over the past few years for a lot of people, but especially in 2020 when it became required for everyone who was not an essential worker. With it continuing on longer than most expected, employers are seeing the value in letting their employees work from home which has allowed city dwellers to move to their favorite vacation destinations. This is one of the main reasons we have seen such an influx from our Bay Area weekend warriors who love our region but have been limited to quick getaways so they can report to work Monday-Friday. With their new flexible work schedule, they can trade their costly lifestyle in the city for owning homes for sale in Lake Tahoe.
Speaking of remote, a majority of schools are starting online, which further allows people to have more flexibility with where they can live. This coupled with the option to work from home has also been a driving force in some parents’ decisions to relocate and buy homes for sale in Lake Tahoe.
One of the other perks to owning Lake Tahoe real estate is the ability to enjoy fresh air and outdoor activities that allow you to stay physical, distanced from others and still soak up the beauty that Mother Nature provides. Not to mention, most folks who are trading city life for mountain life are going from either no personal outdoor space like a backyard to all of a sudden having their own area they can enjoy and entertain in.
Lower Cost Of Living
While Lake Tahoe real estate may not be considered affordable for the average income earner IN the basin, it is considered affordable compared to what you can get in the rest of California.
Being forced to stay at home has forced folks to focus on what is important in a place they spend so much time in. It has resulted in a new perspective on home ownership that has resulted in an influx of buyers looking at homes for sale in Lake Tahoe. If you want more information on buying or selling Lake Tahoe real estate, feel free to reach out. I would be happy to help!