Tahoe realtors are reporting an uptick in buyers’ interest in property around the lake, per the Tahoe Daily Tribune.
“They all say the same thing, they want to get the hell out of where they’re at,” Ken Bednar of Lake Tahoe Communities/Chase International told the Daily Tribune. “I had 19 new clients just sign up in the last three days interested in moving up here.”
With a new generation of younger buyers who are getting used to working from home amid the coronavirus pandemic, the prospect of living out of the city and on an alpine lake while maintaining a career is appealing.
“We have a lot of millennial buyers who are already used to working remotely. They don’t know how long this (pandemic) is going to last, and they’d rather be here,” Bednar told the Tribune, “The people I’m talking to are looking for a simpler life, a close community. They want the outdoors and don’t want to be stuck in places where there’s a health problem.”
The process of purchasing a house during the coronavirus stay-at-home order, however, requires a lot more red tape than in normal times.
Potential Lake Tahoe buyers are required to sign a disclosure agreement, acknowledging that they understand the risk of possibly contracting or spreading COVID-19, before viewing a home. Furthermore, “After signing the disclosure, everyone has to wear booties, masks, and gloves inside the house, and no one can touch anything,” Bednar said.
As tech companies like Twitter, headquartered three hours away in Silicon Valley, are making plans for indefinite remote working, there is suddenly a new future for employees that does not require paying exorbitant rents for minimal square footage in San Francisco.
“People are starting to ask themselves, ‘Why do I have to live in such an expensive area and drive an hour to work every day, or rent out an expensive office space when everyone can work remotely?’ If you don’t need to live in the city, why would you?” Bednar said.