You might be thinking about building a home office at your house or flat, and it’s something that more and more homeowners are looking at with the COVID-19 pandemic significantly increasing the number of people who are now working remotely. But if you own your property, a big question is whether adding a home office will enhance the value of your home.
Generally speaking, a home office is a solid idea for boosting the value of your house, and some news reports suggest that having this feature in your home can add up to 10 per cent to the overall price tag for your property whenever you decide to put it on the market.
How the coronavirus has changed our thinking on home offices
For many people, working from home used to be the exception rather than the rule. We were all used to heading into the office or other workspace, along with sometimes a lengthy commute. But the coronavirus pandemic has completely upended how many of us think about remote working.
Thanks to the months of social distancing and no short-term end in sight to the crisis, a lot of people are now using Zoom, Skype and other video conferencing whilst they work from their homes. And not a lot of us planned for such an outcome, so there aren’t many houses or flats that had a purpose-built home office ready for use in such a situation.
That’s all changing thanks to the virus, and now it’s said that in the UK alone the workforce is roughly about 50 per cent working from home currently. That means millions of people have had to figure out a temporary home office spot, whether that’s working from the dining room table, sitting on the settee and using your lap as a desk, or some other impromptu solution.
Adding a home office can be the perfect response because it will give you a dedicated room where you can put your desk, computer, and anything else you need for work.
Why home offices can help to increase your home’s value
Because of the COVID-19 pandemic and the increased need for many people to work from home, buyers are now looking for properties that have home offices. They were already seen as a good addition before the crisis, and now these additions are considered even more valuable.
Lockdowns, social distancing and the like mean a return to the normal working situations that existed before the virus are not going to happen in the coming months or maybe even years. People are tired of making temporary arrangements for working remotely, and they want a specific home office space, which makes any property with this feature much more valuable.
Even once the pandemic is over, whenever that might be, a home office will still be seen by many potential buyers as a great asset that helps to increase the value of your property.
Options for building your home office
You’ve got a few different options for building your own home office, ranging from a simple rearranging of how to use existing rooms to something more ambitious.
Building a home extension: This is going to be the most expensive choice because you’d be investing in an extension to create an entirely new room dedicated to being the home office. And you’ll have to go through the complicated planning approval process, as well as needing a significant amount of cash to pay for the extension and then the various office supplies once the room is built. It’s only a good choice if you have the time and money available for it.
Rearranging your existing rooms: Perhaps you’ve got a spare bedroom that’s never used which you could convert into an office, or maybe some attic space that is liveable but empty. Think about your options for taking an existing space in your house and repurposing it as an office. You won’t have to pay for an extension this way, and the only costs will be items you need for a dedicated office space like a chair, a desk, and other essential work-related purchases. You can probably take care of all of these needs by spending less than £500.
Consider using a shed for a garden office: Yet another choice is to use an outdoor shed as your purpose-built home office. If you already own one that’s big enough for a home office you can simply rearrange the furniture and add the desk and other office items, again hopefully spending a small sum. If you need to first purchase a shed for your home office then this will naturally be another expense on top, and prices for sheds can vary widely so shop around before buying.
Finding a buyer for your home once you’ve added an office
Once you’ve got your home office in place, or if you already have one, and are ready to find a buyer you need to figure out the best way to try selling your property.
You could try an estate agent, though there’s no knowing when you might find a buyer this way and it can be tricky to do viewings due to COVID-19. Auctioning your home is another option, but because it’s all based on bids, you don’t know how much money you’ll end up getting for your home. Another choice is to contact a fast home buying company like LDN Properties that make no-fee cash payments to buy houses.
Whichever option you pick, you can rest assured that having a home office established before you try to find a buyer should increase the final sale price that you’re able to achieve.