Working From Home?
What Home Buyers Are Looking for Now…
With major employers now stating that their employees will be working from home for the foreseeable future, many homebuyers have adjusted their list of desirables in their next home. Some not only need to plan for a home office space but also need to accommodate the homeschooling or distance learning needs of their children as well.
Tavira is not an exemption and I could see many families relocating from Lisbon here exactly for discovering that they could work from anywhere in the country and there was the possibility to have a different style of life here.
As more people shift to work remotely during the COVID-19 pandemic, real estate professionals, – me included – predict that a home office will become a hot amenity for the long term. I was not surprised by reading a couple of days ago that according to a recent survey done by Houzz Fifty:
“five per cent of homeowners and practitioners say they have a home office. A quarter of respondents say they work from their dining room or a kitchen table, and 11% work from their sofa. Respondents report that the top challenges of a sudden shift to working from home include finding a private or quiet location away from high-traffic living areas (30%), securing a computer with a strong Wi-Fi connection (25%), and creating a comfortable workspace (25%)”.
This is impacting the way homes are marketed and the type of features that have become important to buyers at all price points. Of course, homebuyers with larger budgets have the luxury of seeking homes with extra bedrooms or offices and dens already included. But many buyers are not as fortunate and need to find the needed space in more creative ways.
Creating a dedicated working area via a reconfiguration of existing space, a garage, loft or conservatory conversion or an extension could certainly pay dividends when it comes to selling up, quite apart from saving your sanity in this extended period of family ‘togetherness’! Research has shown that the addition of a home office can add around 8% to 10% to the value of your property in the current market. Not a bad return on your investment!
The easiest way to add working space is within the bedrooms. This offers the ability to close a door for privacy. Larger bedrooms (both in master and secondary bedrooms) have been a top priority for homebuyers. Another important feature is an open floor plan which features a Great Room design.
But, do not assume that converting a bedroom into a study will suddenly increase your property’s worth. Quite the opposite in fact, as rightly or wrongly the size of a home is often implied by the number of bedrooms it has. A non-invasive temporary conversion is, of course, absolutely fine, but going down this route won’t have any meaningful impact (either positively or negatively) on your house price.
For generations, kids have done their homework at the kitchen table, and a spacious kitchen/family room combo makes it easier for home learning without becoming cluttered. Another option for homebuyers is a separate formal dining room which could be converted to a workspace.
With all the changes in working and learning environments for both adults and kids, the home is even more important than ever. As needs change, homebuyers seek different features from their new dwellings.
Summing up, please give me a call whenever you are ready to put your house on the market and make sure you keep updates with more news and information about Tavira market here.
Isabel Romano
