Working From Home: What this means for Home Buyers and Renters

 

Photo by Annie Spratt on Unsplash

It’s estimated that three-quarters of Britain’s workforce alternate their employment between days in the office and working from home, according to a study by Lloyds Bank - This is Money. This is only set to increase. The stand-still caused by Covid-19 is a matter that will resonate with thousands of businesses across the globe, but how many of us were truly prepared for the dynamic of home-working and how important is a home-office for prospective buyers?

 

The IWG Global Workplace Survey found 70% of people agreed a choice of working location is a key factor when exploring new career opportunities. The flexibility of employment is clearly of growing importance to employees, but this undoubtedly comes with challenges. With so many of us subject to self-isolation, we know how tricky this can be: distracting family members, the temptations of social media and, of course, personal motivation. This is why a functional workspace from home is now a key requirement for home buyers and those looking to rent. 

This is not to say home-working doesn’t pose challenges. The most common issue of remote working is adequate broadband speed. For our more local readers, some of you may have noticed the presence of bright pink vans and construction boards throughout Henley-On-Thames, installing a new full-fibre broadband service called Zzoomm. Take advantage of what’s available in your area and you’ll attract a whole new market of modern workers.

Likewise, for many of our properties in South Oxfordshire and Berkshire, finding phone signal in the countryside can leave you shivering on top of a hill. Location is key: get talking to locals and listen to recommendations when researching where to nest, buy or sell - consider the improvements you can make in the longevity for your upcoming owners or renters. 

According to Lloyds Bank - This is Money, 72% of remote workers admitted to customising their workspace. This indicates that homebuyers and renters are more open to investing and will potentially overlook other deterrents on this basis. With a few strategic adaptations, owners could quite easily drive interest to their property with a slight shift in marketing - so get to it.

A word of advice to vendors and landlords 

Optimise your home to attract the changing needs of buyers and add value to your property. For Landlord’s looking to rent, a good internet provider and office space could decrease the likelihood of a void period. For home sellers considering renovation - incorporating space for a home-office could bump up the sale price that your property achieves. Get ahead of the game and adapt to the changing global workforce. 

From all of us at Bonds - stay strong, stay positive, but most of all stay healthy.


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