How has our working situation affected people’s home buying needs?
Due to its population density and vast numbers of those commuting in confined spaces on our public transport network, the majority of city based office workers expect to continue working from home for the foreseeable future.
Many central London offices remain closed to this day and thanks to improvements in technology, homeworking is now a viable alternative to asking staff to regularly commute into an expensive office space. The effect is that many London residents are now reconsidering if they need to live close to a central London office.
Even those of us not based in London have learnt how to make a success of homeworking especially if there is somewhere at home designated as a work space which is separate to the living accommodation.
We estimate 30% of our buyer enquiries are now talking about wanting to buy a property with space for homeworking.
Research from Rightmove.co.uk demonstrates how people’s home moving needs have shifted.
Half of the people surveyed (49%) said they are currently working from home. Of those, one in five (21%) said they would like to work from home permanently and 55% said they would like to work from home more, but still occasionally go into work.
However, the desire to regularly attend a central London office and enjoy time with colleagues hasn’t evaporated overnight; which means that whilst people are keen to move out of the city, they still want to be able to return when required.
The need to occasionally commute back to the office puts much of Surrey and the suburbs of south west London at the centre of many London buyer’s property search.
The study indicates an interest in a transition towards more frequent homeworking which could lead to a shift in what people prioritise in their search for a home. Good internet and a spare room are now becoming more important whilst ‘commuting time to the workplace’ is less important.
Top 5 Buyer Priorities Today:
- A bigger garden
- A bigger home
- Access to parking/garage
- A better home work space
- Green spaces nearby
Advice For Sellers:
If buyers are placing increased importance on finding a property that has a home office, your home is going to be more attractive if it has a space designated to homeworking.
Ensuring your estate agent highlights your home office can make it more saleable, which could mean a quicker sale. Check your property advertisement includes:
- A mention of the home office in the written description
- Marking your office on the floorplan
- Include photographs of the home office
Sellers stand a good chance of achieving an increase in the sale price if a home work space is present, because incoming buyers won’t have to spend money creating one once they have moved in.
Read on for more about building a home office and see some examples we currently have for sale.