What is a home office worth?

A functional, esthetically pleasing workspace can deliver ROI.

By now, most of us have experienced the benefits and challenges of working from home. But when you have a comfortable and inspirational home office, you can be more productive and feel physically and mentally better at the end of a long day.

A well-designed remote office can also pay you back when it comes to your home’s overall resale value. Recent surveys show prospective home buyers rank a home office high on their wish list for a new residence, even above a well-appointed kitchen.

Working from home was on the rise even before COVID-19. Now, with so many companies realizing their remote workforces can be highly productive, the option to continue with virtual work will likely remain even after the pandemic. The government is also offering tax breaks to employees who work from home. Given this new reality, many luxury home buyers are looking for their dream home to serve as the place where they do their best work.

All of this means having an attractive and functional home office will boost not only your productivity but also the value of your property.

Home office goals

Depending on what stage you’re starting from, homeowners can expect to invest on average of about $3,500 for painting and flooring changes up to $20,000 to create a brand new 12 foot by 12 square foot office, according to Fixr.com. When it comes to getting a return on that investment, some experts suggest the majority of expenses can be recouped at resale.

You can find many examples of luxury home office inspiration online, but it’s a good idea to keep a contemporary look in mind for resale purposes. As pointed out in Architectural Digest earlier this year, no matter what your space allows for, the home office should serve to inspire you. The main goal should be to have a bright and spacious area where you can avoid interruptions from other family members and other distractions. Also, think about making the workspace large enough to have two or more people meeting or working together.

Finding the right space to be a dedicated office

Homes with attractively decorated and functional home offices usually have a dedicated space in the single-family dwelling or condo. It may mean repurposing a room you currently have functioning as a storage area or empty bedroom, or you may choose to add to your existing home if you have the space to expand. If you don’t have a good eye for imagining how a room can function as a workspace in your home, consider working with a designer.

Here are five space considerations for a home office:

• Spare bedroom
• Den or large closet or storage areas in condos
• Basement rooms
• Additional outbuilding in the yard
• Addition to existing home structure

The area should be located in a generally quiet place away from street traffic, the next-door neighbour’s barking dog and where people may frequently enter and exit the home. Having a powder room close to the workspace is also a good option.

Access to natural light is an important consideration, so ideally, choose a space with a window. While many condo den spaces don’t have windows, you can up the wow factor with appealing wall art and strategic lighting that is both flattering and pleasing to work in all day.

Space for smart storage options

Try as we might, going paperless can be a challenge, especially if you’re in a profession where having hard copies is still essential. That means having somewhere to file away documents and books — it also keeps the room tidy and appealing to go to each day. A desk with drawers or a modern filing cabinet can be functional and still look like a nice piece of furniture that ties in with the décor in the rest of your home.

Your home is your respite from the world. It should be beautiful and functional. Thinking about creating a home gym? Read our guide to create a home gym that packs muscle and ROI here.

Consider functional pieces buyers can see themselves using

To make your home office appealing to a buyer, consider investing in a stand-up desk, a large flat desk, and purchasing other office furniture pieces, including a stylish ergonomic chair.

You can also add upholstered chairs and accent tables if you plan to have clients visit you at your home office or want to create a welcoming space for when the kids or your spouse drops by for a chat.

Tech considerations

Ensure your tech set up is clean and uncluttered so that unsightly cables and cords aren’t exposed (and so you don’t trip on them). Are you still using coffee table art books as your tech stack? Invest in a laptop stand that will be ergonomically better for you and look more polished.

Avoid irritating overhead lighting such as that thrown by fluorescent lights. Strategically placed floor and desk lamps can create a warm and inviting tone. If you’re listing your home, make sure the home office is lit as if someone was ready to sit down to work — it will help people envision themselves being productive behind that desk.

If you have a window in the space, we all know by now that having good natural light makes us all look better on video conference meetings, so think about that when choosing where to place the desk.

While the home office may be a relatively new requirement on a home buyer’s list of “must-haves,” by having a dedicated space in your home, you could be making your own work from home day more productive and speeding the sale of your home.

For all things real estate, contact Armin Group today. Whether you are planning on buying or selling in Central Toronto, we can help guide you to your goals. Reach out here and we’ll be in touch.