MoneySelling

Will Your Property Value Increase by Adding a Home Office?

The term ‘office job’ is beginning to mean something entirely new, with more and more people working from home.

According to the recent Office of National Statistics (in UK), approximately 4.2 million people now work from home, illustrating an 11% increase since 1998. What’s quite interesting is that the majority of those working from home consider themselves professionals, which shows how far this phenomenon actually reaches.

Current trend

While the statistics mentioned focus on people living and working in the UK, working from home is a trend that has also hit South Africa.

And because more professionals are choosing to work from home instead of heading into the office on a daily basis, homes that do not have a convenient office space are significantly less valuable than those that do.

In the past, having a space that would allow one to work from home was not really a widespread need. Heck, it was largely reserved for people involved in more creative or hands-on professions, such as artists or artisans.

However, nowadays, the internet has allowed for a massive increase in the number of jobs one is able to do from home. If you have a computer and an internet connection, chances are you can work from home.

Although South Africa may not yet have the same proportion of people working from home as in the UK, it is becoming clear that the numbers are picking up speed and moving in the same direction.

Facilities that allow people to work from home are no longer a thing reserved for big cities or the areas surrounding them, but even in more remote locations.

For instance, instead of having to commute to one’s Cape Town offices daily and therefore buying property with that in mind, people are buying in areas such as George because there is an increasing ability to commute to Cape Town only a couple of days a week and work from home for the rest.

Property prices

This trend can be seen throughout South Africa where, because of the freedom that comes with working from home, people are veering away from buying in major cities and their surrounds (where they would’ve been constrained to otherwise).

This has one simple but highly influential impact on your home’s value – if you have made sure that your home has a convenient office space, its value is immediately enhanced. It’s as simple as that!

An office space can now be transformed to become the most appealing aspect of a property, especially if being viewed by a buyer who tends to work from home. And if you’re looking to make it extra special, consider air conditioning and soundproofing if you’re looking to tap into this market!

Bottomline: it’s clear that working from home is becoming increasingly normal within today’s society and a good office space will likely become a necessity for a lot of buyers.

So, if you’re thinking of ways to enhance your home value, this is the direction to head in!


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Property Value Increase by Adding a Home Office
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