We’ve all heard about the most desirable home features buyers are looking for, from upgraded kitchens to remodeled bathrooms, master suites on the main floor, and more. The latest on the hotlist, however, may or may not surprise you: home offices.
In a recent article by George Ratiu, Senior Economist with realtor.com, he notes how listings with an office are selling quickly:
“As more companies have been embracing remote work, buyers are driving demand for houses with home offices higher. Homes featuring the term ‘office’ are selling 9 days faster than the overall housing inventory.”
Today, more and more people are working remotely, and that’s not just because of the current pandemic which is causing many of us to work from home. According to the same piece and the most recent data available, the number of employees working at home was fairly steady from 1997 – 2004 but has been climbing ever since (see graph below):The work-from-home population is growing, thanks to technology. Just last month, according to an article on Think Google, searches for telecommuting hit an all-time high, which shouldn’t be a surprise given our current environment.
People all over the United States are looking for answers on how to be most effective at home which is making the ideal workspace more and more desirable. In fact, best practices from seasoned work-from-home professionals, like Chris Anderson, Senior Account Executive at HousingWire, tout that having a dedicated space is a must for productivity.
With today’s increasing demand for home offices, it’s a great feature to highlight if you are selling a home that meets this growing need. From bright natural light with large windows to built-in bookshelves or a quiet and secluded atmosphere, whatever makes your office space shine is worth mentioning to buyers when you’re ready to list your house.
“For housing, the continued increase in the share of remote workers implies that demand for homes with offices or dedicated work spaces will continue to increase. The current coronavirus pandemic offers a dramatic indication of the fact that companies and employees will have to develop plans and clearer policies for remote work beyond the current crisis.”
Remote work is becoming more widely accepted as this current crisis teaches businesses throughout the country what it takes to function virtually. So, what seems like a business challenge today may become the norm tomorrow.