How the Home Office Demand is changing Real Estate

Hannah Patten Uncategorized

Needless to say that 2020 has certainly thrown us a few curveballs. The pandemic has affected nearly every person, every business, and every industry in one way or another. For those in the real estate business, there is now a sudden increase in demand for home offices. Will this trend last and what kinda long-term impacts will this have on the real estate industry?

Home offices are certainly not new but they are quickly becoming the new norm. While many businesses have already considered remote working for a long-term period this has been a hectic job for many in the real estate world.

While it is arguable that home offices will continue to be the new norm as our lives slowly begin going back to what we know. A major corporation like Google, Facebook, and Twitter are extending their work-from-home as well as offering permanent remote work arrangements. This meaning that home offices will likely remain fairly popular in the coming years.

As more and more people consider having a home office as one of their buying options when it comes to purchasing a house. Is it big enough for a desk, chair, printer? Is it presentable enough for guests to see and to be on a zoom call? These are all questions that buyers will consider when purchasing their home. The good news is that the IRS doesn’t require a home office to have four physical walls to qualify as a write-off.

Needless to say, the pandemic has certainly affected how we do our day to day business but we shall continue to adapt and change as the markets and sales necessities change.