Remote Work Could Be Your Affordability Answer
September 10, 2026
For most first-time buyers, the hardest part of buying a home is making the numbers work. You budget, you save, and the finish line still feels far away.
But your salary is only half the equation. Where you live shapes what you can afford just as much. And if you can work remotely, you have an advantage a lot of buyers don't.
You're not tied to living where the jobs are, so you can look where your money goes further.
Where You Work Doesn’t Have To Dictate Where You Live
Remote job openings are on the rise. According to FlexJobs, remote job postings climbed 22% from the quarter before. That’s the second quarter in a row of double-digit growth.
More remote roles mean more people can choose a home base around the life they want to build. As Forbes puts it:
“Remote employees, freelancers, consultants, entrepreneurs, and business owners have the flexibility to choose a home base based on the life they want to build, whether that means more space, a lower cost of living, better access to nature, or simply somewhere new."
And you can use that freedom to look somewhere more affordable.
Your Paycheck Goes Much Further in Some States
Your cost of living – what you spend on housing, groceries, utilities, and the rest of daily life – varies a lot from one state to the next. In some, according to data from Extra Space, it runs far enough below the national average to change what you can afford (see map below):
Take Mississippi, for example, where the cost of living sits about 17% below average, or West Virginia at roughly 15% below. When day-to-day life costs less, you can put more of your income toward your goals, homeownership included. Relocate Right describes it this way:
"Remote work has fundamentally changed the calculus of where to live. When your employer is in San Francisco, but you can work from anywhere, the question is no longer 'where are the jobs' but 'where does my salary go furthest and what kind of life can I build.'"
For a first-time buyer, working remotely could be a chance to put down roots and finally buy. Because with that kind of flexibility, you get to choose where to live and which places work best for your life and goals.
What To Weigh Before You Go
A lower cost of living is a great start. But it’s also important to consider the things a budget spreadsheet won't show you, because a place can look like a great fit on paper and still not feel like home.
- Is the internet fast and steady enough to do your job without interruptions?
- Will it be easy to make friends and settle into a routine once you arrive?
- Does it have the amenities you want, like public transportation or decent takeout?
This is where a local real estate agent comes in. They can help you weigh a big move against a nearby one, because every state has more affordable pockets. Sometimes they’re closer than you think.
An agent will know which neighborhoods fit your budget and have the features you're after, whether that’s walkability, good restaurants, parks, or a nearby farmer’s market.
Bottom Line
With remote work, where you live can be your decision instead of your employer's. And that puts more affordable places within reach.
Want to explore where that could take you? Let's connect.
You're scrolling through listings on your phone and everything looks good until you see the price (or the estimated monthly payment). Then you close the app. Because even if you love the house, the numbers feel impossible. But here's the thing, they may not be. Nationally, there are more homes sitting on the market than there are people out there looking. And when sellers need buyers more than buyers need sellers , that shows up in the price. Lower asking prices. More price cuts. And homes priced for what buyers can actually afford – not what sellers hope someone might pay. And it may be enough to make buying more doable than you’d think. 4 Out of 10 Sellers Are Cutting Their Price One of the clearest signs sellers are adjusting? Price cuts. HousingWire Data shows more than 40% of sellers are dropping this price. That’s just slightly behind the volume we saw last year ( see graph below ):
Lately, headlines have floated an eye-catching idea about tapping into your 401(k) to cover a down payment on a home. Maybe you've caught the buzz and wondered whether that money could get you into a home faster, especially with affordability as tough as it is. Here’s what you need to remember. Pulling from your retirement savings is a big decision, so take time to weigh all your options first and be sure to talk with a financial expert before you do anything. A lot of buyers ask if they can use retirement money for a down payment. The short answer is: sometimes. The better answer is: there are a few different ways to do it, and they are not all the same. 1. 401(k) loan (borrowing from yourself) If your employer plan allows it, this is usually the cleanest option. You borrow from your own 401(k), typically up to 50% of your vested balance or $50,000, whichever is less. There is generally no income tax and no 10% penalty as long as you repay it on schedule. The interest you pay goes back into your own account. Two things to watch: If you leave your job before the loan is paid off, the remaining balance can become taxable. Some plans allow a longer payoff period when the loan is used to buy a primary residence. 2. 401(k) hardship withdrawal Some plans allow a withdrawal for costs tied to buying a principal residence. This is not a loan. You do not pay it back. You will usually owe income tax, and if you’re under 59½ the 10% penalty often still applies. There is no special first-time homebuyer penalty exception for 401(k)s. 3. IRA first-time homebuyer exception IRAs work differently. You generally cannot take a loan from an IRA, but first-time buyers (no principal residence in the last two years) may withdraw up to $10,000 penalty-free. A married couple can often use $10,000 each. Traditional IRA withdrawals are still taxable. Roth IRA contributions can usually come out tax- and penalty-free; earnings have extra rules Why Dipping into a 401(k) Can Be Tempting Data from Empower shows many Americans have built up considerable retirement savings. The median 401(k) amount for anyone in their 40s-60s is six figures (see graph below ):
When's the last time someone told you what your house is worth? Not what some online valuation tool guessed. Not what your neighbor's house sold for. What yours is actually worth right now . For a lot of homeowners, it's been years. And if you've been thinking about moving , but higher home prices or mortgage rates have made you hesitate, here’s why it’s time to take a second look at that number. Your House May Be Worth More Than You Think Home values have climbed significantly over the past 5-10 years. And even though today's market is more balanced , homeowners are building wealth every day just by owning their homes. That’s how equity works. As home values rise, and as you make your monthly payments, your equity grows. And it adds up fast. According to Cotality , the typical homeowner with a mortgage now has $310,500 in equity. That's not a small number. It’s six figures. And that’s only the national average. In many states, homeowners have built even more equity than that. Take a look at the map below and see where your state stands. The darker the blue, the more equity the typical homeowner has there (see map below):
Few things are as rattling as the thought of your home sale falling through at the last minute, right before closing. All that waiting, all that progress, out the window. But if you’re getting ready to sell, here’s what you should know. Even in today’s market, it rarely comes to that. Buyers who are moving at today’s rates and prices are generally moving because of some big life change. That means they’re motivated, and eager to get all the way to the closing table. According to the latest data from Redfin , only about 1 in 7 pending sales are falling through . Meaning the vast majority make it all the way to closing. And the single biggest thing that puts a deal at risk is the one you have the most power to prevent. It just takes a little smart planning before your house hits the market. Why Some Deals Fall Apart Before Closing A Redfin survey sheds light on the most common things that trip up a sale ( see visual below ):
Ask around and almost every homebuyer out there wants to know if there’s a way to get a better deal . And just about every seller wants to know if they'll still get top dollar . The interesting thing is... both can be right at the exact same time . It just depends on where you live. That's because today's housing market isn't moving in one direction anymore. Some markets clearly favor buyers. Others still favor sellers. But most are sitting somewhere in the middle. And knowing which market you're actually in can completely change the strategy you use to buy or sell (and what expectations you should have). Let’s break it down. One Number Tells You Who's Got Leverage So how do you know which market you're in? There's one number that tells the story faster than anything else: the months' supply of homes for sale. It's the clearest signal of who's got leverage – and what strategy you'll need. Think of it like this. Imagine no additional homes were listed starting today. Months' supply tells us how long it would take to sell everything that's currently on the market based on today’s demand. Generally speaking, if months’ supply is: Fewer than 4 months: Sellers usually have the advantage. 4 to 6 months: Buyers and sellers are on more equal footing. More than 6 months: Buyers can usually negotiate for a better deal. Right now, the National Association of Realtors (NAR) data says that number is 4.6 and that puts the overall market back in balanced territory ( see graph below ):
That spare room on the main floor. The finished basement with a kitchenette and its own entrance. The bonus room you've been using for storage. To you, it's extra space. But to a growing pool of buyers, it's the reason they'd pick your house . Here’s why. Multi-generational homebuying is on the rise. Millions of Families Are Living Multi-Generationally The number of multi-generational households is climbing. That’s when 3 or more generations live under one roof. And data shows those households grew from 3.2 million to almost 4 million between 2014 and 2024, according to Realtor.com . And each year, more people are shopping for a larger home that fits their combined needs. While the appetite for this type of house is rising across the board, data from USAFacts shows multi-generational living is more common in some states than others. The darker the state in the map below, the more common it is in that area ( see map below ):
Imagine waiting a year to buy a home, only to find mortgage rates haven't changed much. That may sound frustrating.But it's a real possibility. A lot of people are putting their plans on hold because they believe much lower mortgage rates are right around the corner. But, based on today's forecasts, that may not happen. And you should know that before you decide what to do. Let's look at why experts don't expect a dramatic drop in rates – and the options that could help you buy anyway. Because even if rates don’t fall, you can still move. Here’s how. 1. Mortgage Rates Aren’t Expected To Fall in a Meaningful Way If you're waiting for rates to fall, you're not alone. A recent survey from Clever-Best Interest found 42% of people believe mortgage rates will drop below 5% this year. The challenge is, that's not what the experts who study mortgage rates every day are expecting. Forecasts from Fannie Mae , the Mortgage Bankers Association , and Wells Fargo all show mortgage rates staying relatively steady in the low-to-mid 6% range through at least mid-2027 ( see graph below ):
If you’re planning to buy your next home soon, you’ve probably heard the old rule about saving 20% for your down payment. The truth is, you usually don’t have to. Plenty of loan options let qualified buyers put down much less. But a lot of repeat buyers are choosing to put down 20% anyway. So, why are they if they don’t have to? Two reasons. They know a bigger down payment pays off, and after years in their current house, they’ve built up enough equity that it’s finally possible. Repeat Buyers Put More Money Down According to the National Association of Realtors (NAR), the typical repeat buyer puts down 23% when they buy a home ( see graph below ):
If buying a home is on your radar, you've probably been keeping an eye on mortgage rates and home prices . But don’t forget about homeowners insurance. Homeowners insurance has always been part of owning a home. But over the past few years, it's become a larger expense for many homeowners – something that's especially frustrating when affordability already feels tight. The good news? While premiums are still rising, the latest data shows those increases are beginning to slow. Here's what buyers should know. Home Insurance Costs Have Gone Up You've probably heard stories from friends or family about their premiums going up. And that’s not really a surprise when you consider data from the Pew Research Center shows 71% of homeowners say their insurance costs have gone up over the past few years. While no one likes rising costs, knowing what to expect can help you plan ahead. Your first insurance payment is typically included in your closing costs, but after that it'll become part of your monthly housing expenses. Getting an insurance quote early can help you build a more realistic budget and avoid surprises later. Premiums Are Rising, But Not as Fast as They Were Most of the headlines focus on how home insurance is getting more expensive. And that's true. But here’s the part that’s easy to miss. Insurance premiums are still rising. But they're not rising as fast as they were. According to the latest report from Rate Insurance , 2025 saw the first slowdown in annual premium increases since 2019 ( see graph below ):
If you're a homeowner getting ready to move , one question usually comes first: should you buy your next home before you sell, or sell your current house before you start looking? There's no single right answer. The best call depends on your finances, your local market, and your timeline. And a trusted agent can help you weigh all of it. But in a lot of cases these days, selling first puts you in the stronger spot. The Advantages of Selling First Selling is usually the trickier half of a move today, so getting it done first clears your biggest hurdle. And that’s especially true right now , because there are more homes for sale than there are buyers, which means houses are taking longer to sell than they did a year or two ago. So how does leading with your sale pay off? Let’s start with the money. 1. You Won’t Get Stuck Paying Two Mortgages Buy before you sell, and you could end up carrying two mortgages at once. Houses are staying on the market longer these days, that overlap may drag on for more time than you’d planned. And if unexpected repairs come up, it could get even more expensive. Plus, you need to have the financial ability to qualify to carry both homes at the same time. Selling first takes that risk off the table, so you’re not multitasking homeownership. As Ramsey Solutions puts it: "It's best to sell your old home before buying a new one to avoid unnecessary risks and possible headaches." 2. You Can Use Your Equity To Fuel Your Move This is always true, but one of the biggest perks of selling first is that you’ll know exactly how much money you're walking away with. And one of the big figures that matters in that conversation is how much equity you have in your current place. Equity is basically your house’s value minus what you still owe on your mortgage. And it adds up fast. According to Realtor.com , homeowners who’ve been in their home for 5 years have about $180,000 in equity on average. And those who’ve had their home for 6-10 years? They have over $340,000. After you sell, you can use that money to cover your down payment or even buy your next home in cash. And knowing that profit up front helps you plan your next move. 3. Your Offer Will Be Hard To Pass Up When your house is already sold, you don’t have to make your offer contingent on that sale. In a market where buyers are taking their time, that’s exactly what a seller wants to see. Picture it from the seller’s side. If their house has been sitting for a while, they’ll gravitate toward the offer most likely to close without a snag. That can also give you room to ask for a little more, like repairs, since a motivated seller would rather keep things moving than lose you and wait for another offer to come in. Your agent can help you make the most of your upper hand in that scenario. Is There a Catch? Selling first has its tradeoffs too, and it helps to see the pros and cons side by side before you decide. Here’s a quick breakdown based on information from Zillow ( see visual below ):
