Why adding a home office is not only practical but can add real value when you sell.
By: Leah Callaghan, March 2020
If you are thinking about selling, one of the big things you can do to increase the sale price is to help potential buyers visualise themselves living in your home.
To help future owners determine the suitability of your home, creating spaces that are neutral and demonstrate flexibility is important. Staging your home is one way to achieve this, however it can become costly.
One space that is becoming a deal breaker for buyers is the spare room or office. With almost 3.5 million Australians working from home, a study has become an essential on many wish-lists. If you have the budget to build or remodel, adding an additional room can potentially mean an additional $80,000 to $150,000 on sale day. However, creating this sought after space in your home is a simple way to expand your buyers’ market and can be achieved with almost any budget.
We look at four easy tips that will help you transform your spare room or underutilised space, so future buyers can easily see themselves in your home.
Light can define spaces, opening or closing a room. Simple things like installing sky lights or making sure all the blinds are pulled back and clean for a home showing can go a long way.
When creating an office space in a spare room make sure your room has enough natural light. As natural light is the optimum for a workspace, increasing concentration, focus and minimising eye strain.
Orientate the desk to maximise any natural light the room may have, being aware of glare, if your computer is facing the window.
If you are creating a study nook that is hidden away, use light to define the space, so it stands out to potential buyers. Look out for globes which have cool white lighting that flood the area and consider a feature lamp to attract attention.
A decluttered home could potentially sell faster. Spaces which are neutral and free from junk, allow potential buyers to imagine themselves living and working in that space.
When it comes to easy ways to revamp your home, making sure you have ample storage should be a priority. From bespoke storage to DIY solutions, nothing says ‘buy me’ quite like a well organised home.
This applies to a room that you may be converting. Your potential buyers may or may not keep this room as an office, but installing storage, or showing how smart storage solutions can easily make the room a workable office, will help buyers picture themselves in that space.
Regardless of whether you’re converting a room or giving a makeover to an existing study, make sure you keep it clear and neutral by using drawer organisers, floating shelves, file dividers or pin boards, to help sort loose paperwork and other supplies.
Choosing furniture for home styling can be a tricky exercise. Pieces need to work well while your home is on the market, as well as be functional for your new abode. Opting for modern options, in neutral colours is a great place to start as it broadens your home’s appeal.
When converting your spare room, think about what purpose you need it to serve until you sell, along with creating possibilities for buyers. If you think you will still need a place for guests, consider a foldout couch instead of a bed, or choose a day bed. This way you are leaving it up to potential buyers to see what they most need when they enter a room.
Slim desks are adequate when converting a room into a home office and will often tuck in nicely under a set of stairs if you are creating a study nook. Stay away from clunky oversized furniture, as it won’t leave much room for a buyer to picture the actual size and potential of a room.
When thinking of furniture make sure you consider who your target buyer is. You can usually ask your selling agent this information. When you know who your target demographic is, you can tweak your style to suit that audience.
The finishing touches can turn a home or study from just a room, to a welcoming zone. Consider adding candles, plants and pictures to create an inviting atmosphere.
Plants, pictures and decor can also add additional value to your home. If you are making over your spare room or study in order to sell, the key is to make sure you choose items that have broad appeal to buyers and won’t distract from your home.
Adding plants does more than just improve aesthetics. Plants have been shown to reduce stress and increase productivity by 10-15 per cent in an office, so including them in a home study is essential. As well as helping to purify the air, they also reduce anxiety and provide a positive atmosphere to a room.
Artwork is another easy way to bring life and style to your home. Art can evoke strong emotions, it can calm and de-stress, or could inspire creativity. Depending on your target market, choose artwork that is modern but neutral, allowing buyers to imagine their own art hanging there.
Whether you are transforming a underutilised space or repurposing a room, allowing potential buyers the opportunity to easily envisage their life in your home will go a long way in how quickly you can sell your home, and the price you can get for it.
The opinions expressed in this article are the opinions of the author(s) and not necessarily those of State Custodians.
See if you qualify. To get a more accurate idea of how much you can borrow with State Custodians, click here.