Maybe you don’t need a home office in your first property for sale in Hertford after all!
Serious savings for buyers as the home-working trend goes into reverse
If you’re anything like us, you’ve had quite enough by now of the government, the Bank of England and even the economy, shifting the goalposts every time you think you know where you stand regarding buying homes for sale in Hertford – or indeed anywhere else. After all, the recent escalation in interest rates has hit everyone at a time when we’re all still reeling from the Covid-19 pandemic and adjusting to the ‘new normal’. And a major part of that ‘new normal’ has been working from home, at least some, if not all the time for everyone in an occupation that doesn’t require their physical presence.
For many of us, it’s become a way of life – and no one finds anything unusual in a household where both partners may be beavering away on their laptops, chatting to colleagues and customers all over the world on Zoom from the spare room, the loft, or the kitchen table (who even knew what Zoom was before 2020!). We’ve all heard the horror stories… Of couples breaking up after spending too many stir-crazy working days together in limited space… Of those who live alone, craving the company and camaraderie of the workplace… Although there is a major upside – the serious savings many are making by cutting out the daily commute. The trouble often is, though, that people moving out of the big cities in search of a more laid-back, leafier lifestyle and property for sale in Hertford, for example, face the considerable additional cost of buying a place with at least one and very often two home offices.
Well, if you’re one of those faced with paying for additional home office space, or who’s just tired of the staring at the same four walls day in, day out, there’s some good news on the horizon. According to an article in The Economist last month, the tide is turning as an increasing number of major employers are recalling staff to the office. The reverse trend seems to have begun with the major Wall Street and City firms but, surprisingly perhaps, Big Tech is now enthusiastically following suit, with Apple, Google, and Meta making employees turn up at the office three days a week or more.
All of which could be great news, particularly for first time buyers – because now you can set your sights considerably lower without the need for a home with a spare room or two to work in. Typically, an extra bedroom adds around 15% to a home’s value – and the addition of a home office or garden office is generally said to add between 5% and 10%. Put that in the context of the UK’s average house price this year at £288,000, and you’re looking at a saving of anything up to £48,000. Hardly small change! In fact, it’s entirely possible that your employer dragging you back to the office is the one thing that brings the home of your dreams within reach!