Ever wanted to live closer to the city but the rent was too expensive? Corelogic reported this week that rents are dropping by as much as 10% in the eastern suburbs of Sydney and surrounding suburbs of the city. Now is the best time to rent near the city, if any, but does anyone really want to rent near the city?
I moved my family from the western suburbs of Sydney to Drummoyne to be closer to my work. I know it’s been the best overall decision we have made for the family, even though we are paying a premium in rent, we wouldn’t have it any other way. So if you still want to rent closer to the city, I would negotiate with the landlord and try and lock in a long-term contract.
But as people settle into working from home and there is no sight of big businesses returning their staff back to the office, the city has quickly lost its popularity.
Minimising travel time to and from work can make most people happy, probably happier than having ice cream….no I lie, nothing makes you happier than having ice cream. Sorry, I’m on a diet and I can’t stop thinking about it.
These days, travel time has reduced to the time it takes you to walk from your bedroom to your laptop. So, it doesn’t matter where you live. What is important is that you have a good internet connection, somewhere to put your laptop and to make sure you are wearing clothes, at least a shirt/t shirt when having a video meeting.
The flexibility of working from home has also presented opportunities for properties located in desirable suburbs that are located away from the city, i.e. Blue Mountains, Central Coast and Byron Bay where people can take advantage of lifestyle benefits and still have the high-flying jobs only the city used to offer.
If there is a silver lining to COVID-19 is that we have proven we can work from anywhere and as long as productivity remains then it’s a win-win for both the employer and employee.
If you want to transition your life closer to the city with a long term vision, then negotiate now and make the move. If you think your work has transitioned to a working from home environment in the long term maybe consider a home lifestyle change.
“The only true wisdom is in knowing you know nothing.” – Socrates
Thank you for reading
