Will a study or home office add value to my home?

OCTOBER 10, 2019

The flexible working trend, where our bosses are increasingly making it easier for us to work from home means any property can benefit from a nook and cranny, or a separate room set aside as a study or office.

In fact, at last count, almost 3.5 million of us regularly work from home in our main job or business, according to figures released by the Australian Bureau of Statistics (ABS).

The home office could be a distinct room, or a portion of a space set aside for work and study. If you plan on undertaking some serious work from a nook or cranny in your home, consider spending some money on making it a practical and comfortable space. Custom cabinetry can even provide you with a desktop together with drawers and shelving for storage.

If you don’t have some spare space, you could consider adding a study or home office as an extra bedroom to your property. Additional bedrooms generally translate to higher sales prices for a property, and by anywhere between $80,000 and $150,000 or more according to several different studies on the subject.

It’s important to do your research before adding a room for use as a study or home office. If you don’t know where to begin, your local Raine & Horne agent will be able to help you with the latest design trends and features buyers in your area are currently looking for – it could be that an extra room for a study is not on their shopping lists.

If you’re thinking about a home office, adding a granny flat might be a more sensible option. This way, you don’t need to make structural changes to your existing property, and perhaps a granny flat will help reduce the possibility of overcapitalising on the value of your home.

A dedicated study or home office is a sensible idea with more people working from home 2-3 days a week. Moreover, a decent home office can add great value, especially if it has a separate entrance that ensures you can maintain a natural division between work and family life.  And don’t forget there are also tax deductions available for those businesses who operate from home.

To discuss the value of a study or home office, contact your local Raine & Horne agent today.