A home office in a dedicated room adds £17,500 to the value of a property, according to research from Direct Line Home Insurance which looked at property listings throughout
the UK and found the average price of a home with an office is four per cent higher than equivalent properties in the area (£439,000). It also polled 100 estate agents, of which nearly three quarters said that a dedicated home office adds considerably to the desirability of a property (what do the other 25% think?). Nearly a third of those properties with a home office were external studios
Around 38% of those polled said they were planning to convert existing space in their homes into an office over the next year. The study indicates that 19% have already converted a garage or shed into an office or have installed a garden office during lockdown, and another 10% are planning to do so at some point in the next 12 months. However, the estate agents cautioned owners not to convert bedrooms into home office space, saying it can negatively impact the listing price for a property.
Dan Simson, Head of Direct Line Home Insurance, said: “As their home office is likely to become a permanent fixture in their lives, it’s understandable many people are now starting to think about the changes and improvements they could make to their property to make home working more comfortable. As our research shows, not only does a dedicated office help a separation between work and home, it can also add significant value to a property. Anyone considering building work just needs to remember to inform their insurer before the work is carried out and update them on any additional rooms created so they have the correct level of cover.”
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