Work from home is here to stay

WFH the initialism for Work from home was one of the most used terms in 2020. After all, it has changed how companies and employees work. From private employees to government officers, everyone is learning to work from home. Lockdown had brought in new challenges for all organizations, and WFH presented itself as an excellent solution to ensure business continuity. 

The concept of WFH was highly beneficial for both companies and employees [1]. As a result, most organizations today are opting for permanent WFH. Global companies like Google and Facebook had asked their employees to continue work from home indefinitely. The benefits include saved building rent, electricity, water, transport, and municipal waste cost.

Similarly, an employee also enjoys benefits like no travel time, and the ability to spend more time with family, which in turn improves their efficiency[2][3]. 

All these mean “WFHers” have to make a drastic shift in their lifestyle. 

Bigger is always better 

What comes to your mind when you think of a home? Most of us will say that it is a place where you could relax and feel no stress at all. One of the important reasons why WFH succeeded was because employees could work in an environment where there was little stress for them.

As schools and colleges do not have plans to reopen any time soon, houses will be filled with the noises of children. Especially why getting a bigger house makes a lot of sense going forward in the WFH era.. A bigger house might give you the much-needed privacy that you need during important times. You certainly do not want your children running in front of the camera while you are video-chatting with your CEO. 

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It all boils down to location

In the past, many people preferred to buy a house and stay in close proximity to their offices, which at times meant having to stay far away from good schools or healthier environments  

However, with WFH kicking in, most people prefer staying in suburbs that are not only cheaper but healthier.[4] 

Did you know a study pointed out that by giving the option of working from anywhere, employees’ productivity increased by 13% due to a reduction in travel time, lesser sick leaves, and an overall comfortable working environment.

Reasons why you should buy a house today

It is highly beneficial to buy homes during this period. This is not just due to the above reasons, but also because the home loan interest rates are quite low these days. Today, the interest is hovering in the 6.5 to 7.8% range. The Reserve Bank of India is doing its best in keeping the home loans within the clasp of every citizen of the country. Also, home loans have tax deductions under section 24 of Income Tax. You can claim up to Rs.2 Lakhs deduction in a financial year. 

It is pretty clear that buying a home today is a crucial step in planning for a long term WFH. Your house would also act as a long term investment plan; its value keeps on increasing as days pass by. 

Check out Monarch Aqua to see how you can prepare adequately for the new normal.