The home-working trend is gaining traction across the globe. And you may make more money.
This wind of change is shifting the business landscape of today as more and more people decide to escape the vicious loop of a 9-5 lifestyle and retreat to their abodes. They are determined to achieve a better work-life balance and dazzling success from the comfort of the living space. So, it is small wonder that homeowners and sellers are making an attempt to future-proof their properties and make them more saleable. The goal is to sell a house as quicky and effortless ly as possible and adding a ome office could help.
The price tag
A home office boosts the appeal of property to buyers. This feature is one of the most sought ones, and it also affects the value of your real estate. This is paramount since the number of people working from home is at an all-time high: It is estimated that around one-third of Australians take part in the freelance economy. Many of them are working from home on a daily basis. Still, those who are facing budgetary constraints do not find it easy to come up with 40,000 Australian dollars (AUD), which is the average cost of home office renovation.
As for the return on the investment, projects in this price range can give you at least 46% increase. Now thats significant. Being smart and clever with the esign and fit out as most people probably do not need a luxury workspace. What's more, investment in technology does not generate much additional income since it quickly becomes outdated. So, think twice before installing new wiring and home office components. Instead, strive to get the lighting right and purchase long-lasting, energy-conserving LED fittings. Likewise, make the space look great with ergonomic furniture . This all adds to the look and feel.
Different strokes for different folks
Dedicated workspaces are popping up in gardens, home extensions, but also empty corners of rooms. They come in all shapes and sizes, which means that the financial difference they make fluctuates as well. A garden is a good place to create your home office, although there are some issues like electrical installations, pipes, Wi-Fi, and heating you need to solve. Experts assert that a high-quality garden office is an equivalent of an extra room, adding around 5% to the total real estate asset. All this helps when selling a house.
Some people even decide to turn shipping containers into modern workspaces and assemble them in for only a fraction of the time that a conventional construction process takes. Loft conversions are also quite popular, and experts argue that an average conversion cost is between 65,000 and 82,000 AUD and adds between 197,000 and 246,000 AUD of value. But, as a general rule of thumb, integrating the space into a household is associated with lower costs.
Depending on a budget, you can also let the office serve as a man cave and a playroom. A spare room does the trick as long as it is separated from the rest of the domestic goings-on. We have also witnessed the proliferation of ready-made offices that are less expensive, and do not require planning permission. Still, some people take a different approach. They utilise acrylic-block walls to partition off a part of the room and create a private nook.
In any regard, keep an eye on additional costs in order to avoid blowing the budget. Apart from the cost of the renovation, you may have to pay for party-wall surveyors, planning advice, and structural engineers. On the other hand, bear in mind that home buyers take into account not only the upfront costs but also hidden and ongoing ones. Younger buyers (millennials) are particularly inclined to opt for properties that feature low maintenance requirements and give them a chance to personalise with décor and design solutions.
Strike a fine bargain
Home offices are an integral part of modern living and conducting business. This trend represents a huge social change, and a decisive factor which shapes the real estate market of today. Considering the number of freelancers and work-at-home professionals, when selling a house you should not miss a chance to cater to a growing number of these homebuyers. After all, a home office adds to the value and buyer appeal of the home. Hence, it is a win-win scenario for most homeowners and serves as a crucial selling point when striking a deal.
Author's bio: Lana Hawkins is a student of architecture and the editor-in-chief on Smooth Decorator. She enjoys writing about interiors latest home décor trends. Lana advises getting some electric standing desks for your home office to make it more appealing for potential buyers.
