August 28, 2020
The Value of a Home Office
The current health crisis has changed home buying in many ways – including what buyers are searching for in a house. Over the last several months those that could, have relocated their offices to work from home. It’s a trend that seems to be gaining momentum and could remain permanent for some, even after the pandemic passes. With this in mind, and knowing their current work set up cannot be maintained permanently, buyers are placing a higher value on having a home office or additional space for a designated work area.
According to the latest Market Recover Survey from NAR, there are a few amenities that buyers are looking for right now above anything else – home offices being at the top of the list, followed by space to accommodate an entire family.
The New Normal
Several years ago working from home wasn’t even a thought to most people. As times have changed, even before the onset of coronavirus, many were already beginning to work from their own home. Some businesses have completely remote employees and others that are hybrid. Others might be in-office regulars, but do tend to spend time working after hours from home.
This trend is expected to continue especially as many businesses have seen the ability of their employees to be just as successful working from home during the current pandemic. With this in mind, having a home office might be one of the best features to highlight when trying to sell your home.
Value of a Home Office?
A dedicated home office space, even if it is a small nook transformed into an office or a spare bedroom, can be a good selling point to buyers. As this becomes an increasingly more desired feature in a home, however, it doesn’t necessarily mean you should go knock down walls and invest money into building a home office specifically for a selling point.
Many times homes already have areas that can be transformed into office areas. Do what you can to make one exist in your already existing home, and use it as a selling point. However, the value of your house won’t necessarily be benefited by adding to a home office to your complete house. So, use the space you have to make your home more marketable, but don’t invest all your time and money into creating one that doesn’t already exist in some form if you are looking to add resale value to your home.
Benefits of a Home Office
While a home office might not be the renovation project you need to do to add resale value, it is something to use to your advantage if your home already has one or has a space that you can easily and affordably transform into one. As mentioned above, it’s a feature that many families are looking for in this day and age and can be a good selling point that might help you get your home off the market sooner!
Home Office Options
You might be wondering, “how do I make a home office space without renovating?” There are ways to get creative and to make a space that is dedicated to working!
Get creative with a nook:
Even if it’s in the corner of an already busy room, there are many ways to transform your space. Find a sturdy desk with storage that offers pleasant eye appeal, since it might be in a high traffic area of the home. Add some decor and you’re good to go! Check out these ideas!
A spare bedroom into an office dream:
If you have an extra bedroom, then you’ve got the perfect space for an office! Double it as a closet or workout room if needed, but utilize the room for your benefit. Here are some ideas!
Hide it away:
There are some neat ways to tuck an office into a closet or behind doors in your home, without needing an entire extra room. A fold away desk or pull out counter might do the trick, or you could try transforming your spare closet into a hidden workspace. Check this out for some inspiration!
If you need help in the process of selling, refinancing, or buying a home give Method Mortgage a call. We can help lead you to the smartest way home!