Home Working Space – Adding Value To Homes?

25th August 2020 posted in Sellers Buyers

There is considerable focus on the importance of remote working these days. At Hunters Bridgend, we know many people expect to work remotely for some time, and this is likely to impact the housing market.

A study by Direct Line has gone as far as to suggest that properties with a home office space carry a premium of £17,500. The insurance company spoke with agents and found three quarters (73%) of estate agents stating “a dedicated home office now adds considerably to the desirability of a property”.

Remote working is likely to be a common part of life

Dan Simson is the Head of Direct Line Home Insurance, and he said: “Home working is likely to be in place for millions of people for a long time to come because of the pandemic. While lockdown is easing, many employers are already encouraging their workforce to work flexibly long term, to reduce numbers in the office for social distancing measures, and to save on office costs.”

Dan Simson continued by saying; “As their home office is likely to become a permanent fixture in their lives, it’s understandable many people are now starting to think about the changes and improvements they could make to their property to make home working more comfortable. As our research shows, not only does a dedicated office help a separation between work and home, it can also add significant value to a property. Anyone considering building work just needs to remember to inform their insurer before the work is carried out and update them on any additional rooms created so they have the correct level of cover.”

There has also been a study carried out by Attic Self Storage which states 41% of respondents expect to continue working from home. 44% of respondents said remote working was the most productive way for them to work.

Where do you like to work?

Attic Self Storage has carried out research which indicates 41% of office workers expect to continue working from home. 44% of respondents said that home working was the most productive way for them to work.

The study also lists a Top 10 of productive places for people to work at home, which is as follows:

1.      Kitchen table / dining area

2.      Sofa / living room

3.      Bedroom

4.      Home office/ study

5.      Garden / garden shed

6.      Balcony

7.      Garage

8.      Children’s room

9.      Campervan

10.   Bathroom

Frederic de Ryckman de Betz is the founder and CEO of Attic, and he said; “We have seen an increase in business leaders and Kitchen Table Talent opting for storage over office space or upsizing their properties over recent months.”

The same study also indicates homeowners are willing to make changes around their home to help them work remotely. 25% of respondents say they plan to carry out changes which make their home multi-functional, and 27% of respondents say they plan to decorate their home to make working from home easier. 36% of respondents say they intend to declutter their home to assist with remote working.

At Hunters Bridgend, we are proud to play a part in supporting a thriving and friendly local community. If you would like information or guidance on how we can assist you, or you just want to stay in touch with the latest housing industry news, please contact us today.