Is your home providing a good ROL?
Why do I live here?

 03 July 2020
Is your home providing a good ROL?

As the country continues to reopen following the Covid-19 quarantine, many people are starting to ask themselves a simple question – why am I living here, in this home? 

The pandemic has upended one of the strongest traditional reasons for picking our primary place of residence: our careers. The way we all work in the future could be headed for a major transformation, due to our experiences in lockdown, when many workers were working from home (WFH) for the first time. After all, if your job is no longer tied to a particular location, your home doesn’t have to be either.

As we move forward into the new normal, three other key factors could have a greater impact on where we decide to live in the future too. 

 

1. More space between home and work

Companies will keep moving jobs that can be done outside of a traditional office environment online, for health, safety, and economic reasons. As our connection to physical office spaces decreases, technology like Zoom, Slack, and other virtual workspace platforms will allow us to keep collaborating with and learning from co-workers. In fact, our work experiences, skills, and connections will grow as these online virtual workspaces can connect us locally, nationally and internationally.  

These new online working methods could also open up new living options. 

  • You could move away from your current employer’s physical location while keeping your current job. 
  • You could take a dream job on the other side of the country without needing to move and uprooting your family. 
  • You could access 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 has largely moved online, maybe you’d like to move your primary home to a favourite getaway location. Your holiday golf course could become your regular golf club. Museums, theatres, and other cultural organisations 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 working 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 garden for your kids and schools with smaller class sizes. 
  • Empty nesters could do the opposite and move into a smart city centre home which is more manageable and offers a wider range of entertainment options. 
  • If you’re happy where you are, this might be the time to tackle remodelling projects you’ve been putting off. If you’re serious about making the full-time switch to remote work, that desk under the stairs or kitchen table you’ve been calling a home office probably won’t cut it. 
  • You could work from various locations, including second homes, motor homes, beach bars, anywhere so long as the internet connection is strong and reliable enough to support all your work activity, especially video conferencing.

 

3. More opportunities to connect  

Lockdown has given us a newfound appreciation for our loved ones. Through video chat and social media we have 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 back into your daily, real-world life. If work pulled you away from your loved ones, you could move where you have stronger personal connections and can see people in person, not on a screen. The very people who helped you make it through lockdown and self-isolation could be the very people to make the next chapter of your life more fulfilling. 

 

Talk to us online

We’re all processing these and other big picture changes in unique personal ways. If the pandemic has had a major impact on how you think about your work, your life, and your home, let’s talk about it. At Panthera Wealth, we offer a no-obligation initial consultation online to discuss your financial situation and how you can get a better Return on Life. 

 

 

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Although finances and circumstances may change in the future, I feel the Financial Planning process has given me a more positive outlook, and an ability to have greater control of my own financial security both now and in the future.