Amongst many other changes to our lives, the last two years have seen a re-evaluation of how much space and the type of accommodation we need.
Considering the number of months in lockdown we have spent in our homes, particularly in Melbourne, a home office or study has become of key importance for buyers.
For renovators and house flippers this should be a renovation priority right now. Kitchen and bathroom upgrades are normally seen as your big bang for buck renos but search results for a home office or a study have gone up tremendously.
As people are increasingly being required to work from home, even second living areas or media rooms may be better serviced as a home office, from a resale perspective.
While smaller spaces like a desk in the alcove or a little laptop-sized bench used to be sufficient, homes now need dedicated and private spaces. The space doesn't have to be huge, but it really has to be private. Working from home you need to be able to have conversations where you're not necessarily going to be overheard. People on calls also need to know that the surrounding noise won't get picked up on the
Families who need to juggle home-schooling will also appreciate the space to jump on a quick business call if need be. We're also seeing a move towards people wanting additional outside space where they can relax, but stay within their own property.
When it comes to selling your home for profit, sellers need to tap into how people are living right now. What you like or want in a home is often what your renters or future buyers will like about your home. Right now, we need to look at how we live in homes with the backdrop of Covid-19 and working-from-home basically being the new normal.
And given the property market's continued resilience and buoyancy throughout the pandemic, the APRA (Australian Prudential Regulation Authority) is implementing tighter mortgage serviceability tests. Click here for the blog post I wrote highlighting the
If you'd like to chat about your options, feel free to get in touch with us.