Selling Your Farmington Hills MI Home? Buyers Want Home Office Workspace
Although there’s been a significant uptick in buyer demand for home office space in the market, working-from-home was already a growing trend well before the pandemic. Statistics show that as of 2018, there were 4.3 million remote workers in the U.S., which was an increase of 140% since 2005.
Both employers and employees are realizing many of the benefits that come from working from home. And workforce analysts predict that by the end of 2021, as many as 30% of all employees will still be working from home at least part of the week.
As a growing number of companies are requiring or offering the option to work from home, more Farmington Hills MI home buyers are including home office space on their must-have checklist.
In response to the demand, sellers are now positioning extra space in their home as a “home office” or “workspace” to market their Farmington Hills MI property, and REALTORS® say they’ve seen a notable increase of home offices mentioned in listings.
Add value to your home and attract buyers
In a realtor.com® survey, 63% of respondents indicated that they plan to buy a new home in light of their ability to work from home. On average, listings featuring a home office command a 3.4% price premium and sell nine days faster than listings without one, according to realtor.com data.
Many REALTORS® agree that showcasing a dedicated work area can help attract more buyers to your property. Most homeowners don’t have the luxury of having a specific room dedicated as a home office. Work areas at home often consist of a desk and computer sharing space in a guest room with a bed or exercise equipment.
If you are preparing to put your home for the market, why not stage a multi-functional room like this into a home office instead? Showing buyers that your house has room for an office, even if it’s a shared space in your kitchen or living room, can add value to your home in their eyes.
Cost of building a home office and ROI
According to HomeLight research, to build a new home office, homeowners can expect to spend an average of $12,000, but they will get an approximately 87% return on that investment when it comes time to sell.
Before getting started with any renovations or improvements, it’s best to consult with a Farmington Hills MI real estate agent to get their advice and guidance on maximizing your home’s value for resale in your area.
Will converting a bedroom into a home office boost the resale value of your home?
If you don’t have an official home office, you might be looking around your house, wondering which room could be converted into a workspace. Keep in mind that while buyers are looking for home office space, bedrooms and bathrooms rule the day to boost resale value.
Most buyers would much rather have four bedrooms than have three bedrooms and an office. Rather, look for opportunities to create dual-purpose spaces.
Since you’re probably not entertaining many guests during the pandemic, now’s a great time to create a combination guest room/office. Remove the bed, and replace it with a sleeper sofa or love seat.
Transforming an unused area of your home into a workspace
Take a look around at any unused areas in your home, and you’ll probably be able to find a place to create a workspace that buyers will covet. A finished, walkout basement could be turned into a comfortable and private workspace. Or, a nook underneath the staircase or unused space at the top of a staircase could make a compact office.
Setting up a workspace in the kitchen, which is usually the central hub of a home or in a noisy TV room isn’t likely to appeal to many potential buyers. It’s best to choose a room with adequate space that’s far from the main living spaces and not frequented by family members or guests.
Try carving out space in another area such as the dining room. Keep the dining table, but remove the buffet or the leaves in the table and extra chairs to make room for a chair and desk. You are not eliminating the dining room – merely suggesting to buyers how the room can be repurposed further to suit an office.
If you have no choice but to set up a home office space in the main living area, present it in the most appealing way possible. Try separating the work area from the rest of the room with a folding screen, partition wall, curtain, or even tall houseplants like a Fiddle Leaf Fig tree or a potted Dracaena.
Choose a free-standing desk to fit the space without overwhelming it. Or, consider a wall-mounted desk that takes up less space. Keep the area neat and tidy, bundle up any loose cords or wires, and Illuminate a poorly lit work zone with a small desk lamp.
Staging your home office
If you already have a dedicated home office, staging it will create a functional and organized space that buyers are looking for at this time. As with all staging, start with a clean and clutter-free space, void of personal objects. Stage your home office by storing supplies out of sight.
Hide office supplies inside desk drawers or stash them inside a storage cabinet. Once you’ve decluttered, depersonalized, and cleaned your office space, you can begin the fun part of staging it. The desk should be featured prominently in the room as it’s the main component.
Neutral colors create a relaxing work environment. Choose a neutral color scheme in calming colors, like beiges, whites, soft grays, greens, or blues. Task lighting is a must in every home office. A lamp for the desk should be bright enough to illuminate your workspace, but not blinding.
And with the growing number of meetings now taking place by way of video conferencing, you’ll want to ensure the lighting is suitable for being on camera. Additionally, place a large area rug beneath the desk area and chair to warm up and add color and texture to the space.
You can also add some live green plants and fresh flowers, and place a tall, big-leafed plant in an empty corner to bring life into the space.
With so many people now working remotely, the demand for a home office or workspace is on the rise. If you are planning on selling your Farmington Hills MI home and already have a home office, now’s the time to promote it. If you don’t have a dedicated home office, create and stage a workspace in another area of your home that will bring in the buyers and seal the deal!
Partner with Highly-rated Farmington Hills MI REALTORⓇ -Tom Gilliam
With over 20 years of real estate experience, Tom Gilliam is proud to be a trusted Farmington Hills MI REALTORⓇ – offering his guidance and expertise to area home buyers and sellers. Tom understands that buying or selling a home is a significant financial and life decision and that you are looking for someone you can trust and work with.
If you are ready to list your current property, Tom can help determine the market value of your home and make suggestions on how you can command a higher asking price. As your agent, he will protect your best interests, advocate for you, pull together all the details of the transaction, and get your home sold quickly for the highest market price. Feel free to contact Tom directly at (248) 790-5594 or you can get in touch by email.
Tom Gilliam, REALTOR®
29630 Orchard Lake Rd.
Farmington Hills 48334
Email: Tom @ Homes2MoveYou.com
Farmington Hills MI Real Estate