Selling Your Farmington Hills MI Home? Buyers Want Home Office Workspace

Selling Your Farmington Hills MI Home? Buyers Want Home Office Workspace

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, anREALTORS® 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.

The takeaway

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®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Direct: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578 

Farmington Hills MI Real Estate

Article sources:

https://www.homelight.com/blog/building-a-home-office/
https://globalworkplaceanalytics.com/telecommutingstatistics
https://startupsavant.com/news/home-buyers-add-office
https://www.onlinehsa.com/how-a-home-office-increases-appeal-to homebuyers/
https://www.tepilo.com/blog/2017/09/
why-broadband-speed-is-becoming-so-important-for-property-buyers
https://www.newhomesource.com/learn/design-home-office/

Preparing For An Appraisal Before Listing Your Farmington Hills MI Home

Preparing For An Appraisal Before Listing Your Farmington Hills MI Home

Preparing for an Appraisal Before Listing Your Farmington Hills MI Home 

You’ve decided to put your Farmington Hills MI home on the market. Before listing your home, you may want to have it appraised. An appraisal is an unbiased, professional opinion of how much your home is worth. The results of the appraisal will help you determine the asking price for your home. Homeowners often get nervous about the appraisal process and what could end up hurting the appraised value of their home. 

Read on for some tips on how to best prepare for your appraisal: 

Make sure your home looks good from the curb  

Curb appeal is one of the most important aspects of preparing a home for sale and it’s also important when preparing for an appraisal.  Similar to neglected repairs, a home with little or no curb appeal can create a poor first impression for the appraiser and lower the value of your home. 

Houses with high curb appeal receive better appraisals, hands down. Start by walking around your home before the appraisal with a critical eye. Remove any clutter from both the front and backyards like stray toys, bicycles, and lawn furniture.

Also, look for any damage that could decrease your home’s value. Are there loose floorboards? Do the gutters work properly? Pay attention to things like overgrown shrubs and bushes, weed-filled flower beds, and damage to the exterior of your home. Be sure to also address any chipped or peeling paint.

While an appraiser won’t necessarily care what color your house is painted, they will pay attention to the condition of your paint. Chipped or peeling paint, especially on the exterior of your home, can be an invitation to wood rot and other structural issues.  

Take a look at comparable homes in your area

The market value of your home is largely determined by how it compares to similar homes in your area that have recently sold. Your Farmington Hills MI real estate agent will be able to pull information for you on recent closing sale prices in your neighborhood. 

This will provide valuable insight into how your home measures up. Before an appraiser even steps foot on your property, they’ll gather a list of comps to compare your home.

They’ll use the price of similar homes sold nearby, and adjust based on the features and qualities of your home. If homes in your area are selling with new hardwood floors, updated appliances, and fabulous curb appeal, you should consider taking on similar projects to fetch the same value. 

Inspect for potential safety issues around your home

As you prepare for an appraisal, you’ll want to inspect any potential safety issues in your home that could raise a red flag for an appraiser.  A few of the most common repairs that are cited in appraisal reports include peeling paint, missing handrails, and broken windowpanes.

 If you are unsure if you have any potential safety issues, an experienced Farmington Hills MI real estate agent can walk through the home and point out things that might be cause for concern during the appraisal.

Make some smaller home updates to your home 

Outdated décor can have a negative impact on an appraisal, while a more modern appearance can have the opposite effect.  Small things don’t add a lot in an appraisal, but they add up – giving the entire home the appearance of being modern and updated. 

Repaint the walls and hang new curtains. Install shiny new doorknobs or faucets. Update old countertops, paint cupboards, or reface them and replace old flooring, if you can. You’d be surprised how inexpensive flooring can be to replace, especially if you do it yourself.

Laminate flooring and tile will refresh a room, as will updating countertops, even laminate countertops. Keep the looks neutral and adaptable, yet modern.  

Give your home a deep clean 

Give your home a deep cleaning.  A home will appear to have more worth when it’s clean. Pay extra attention to areas that might not be part of your regular cleanings such as the inside of cabinets and the corners of ceilings.

Get rid of any scuff marks on the walls and shampoo your carpets to remove lingering stains or odors. Focus on the exterior of your home as well, such as cleaning out gutters, wiping down the outsides of windows, and even power washing the floor of your garage and the sides of your house.

A spic and span home inside and out looks newer and more attractive to both appraisers and buyers.

Compile a comprehensive list of upgrades

Be sure to inform your appraiser of any improvements you’ve made in your home within the last 4 years. New additions, replaced HVAC units, siding, gutters, a new roof, remodeled kitchens, and updated bathrooms will all positively reflect on your appraisal. Don’t assume the appraiser will notice every updated fixture or siding replaced.  

Make sure everything is in working order

Go through your property and ensure that everything is working how it’s supposed to. Makes sure any safety equipment installed is working properly like smoke alarms, carbon monoxide alarms, and home security alarms. 

Replace burned-out bulbs, turn on any pilot lights that you have switched off, and take care of anything else that suggests something might not be quite right. While an appraiser won’t go into as much detail as the inspector will, it’s best to show that everything is in good working order.

Look beyond your house to the surrounding area 

Are there new schools, parks, highway ramps, stores, or other public amenities that have been added since you bought the house? Point these out to your appraiser. The appraiser may not be totally familiar with the area and amenities such as these can add even more value to your home.  

Farmington Hills MI REALTOR -Tom Gilliam

When you are ready to list your Farmington Hills MI home, contact Farmington Hills MI REALTORⓇ – Tom Gilliam. Tom can help determine the market value of your home and make suggestions on how you can command a higher asking price.  

Tom is proud to be one of the most trusted real estate agents in Farmington Hills – offering his guidance and expertise to home buyers and sellers for the past 20 years. He understands that buying or selling a home is a significant financial and life decision and that you are looking for someone you can trust.

As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and guide you towards a smooth and successful transaction. Get the process started today by contacting Tom Gilliam directly at (248) 790-5594 or you can reach him by email.

Tom Gilliam, REALTOR®
RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Direct: 248-790-5594
Office: 248-737-6800
Email: Tom @ Homes2MoveYou.com
License #314578 

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