Demand continues to grow for homes with work space
Category RealADVICE
Since the onset of the Covid-19 pandemic, an increasing number of people have not only been discovering the attractions of working from home - but also the benefits of starting their own, home-based businesses.
This has increased the demand for properties with home offices and other spaces that can accommodate small businesses, says Gerhard Kotzé, MD of the RealNet national estate agency group, and current events in SA are strengthening that trend.
"Working from home instead of commuting every day means big savings on transport expenses and has also enabled many families to manage with one vehicle instead of two. This has helped to significantly reduce the effects on their finances of the past year's inflation and interest rate increases.
"And now, home-based entrepreneurs are relishing the fact that they can make their own plans to mitigate the effects of severe loadshedding. They don't have to pay rent for business premises that may or may not have the back-up power they need to keep the doors open. And any back-up system that they may decide to install at home - such as an inverter and storage battery pack - becomes more cost-effective when it is also supporting their business.
"Consequently, we are expecting another wave of demand over the next few months for properties with enough space for owners to establish home-based businesses."
Home buyers, he says, are increasingly also realizing the multiple other benefits of working from home, he says, whether they are working remotely as an employee, or starting to build their own business empires. These benefits include the following:
- Saving money on corporate clothing or uniforms as well as other expenses associated with working outside the home. Even if these were just a daily coffee or take-away lunch, the savings can quickly mount up to a significant sum;
- The property taxes and utility costs you have to pay will do "double duty" as they cover both your living and business premises;
- You may be able to reduce the amount of income tax you pay if part of your home is permanently used to help you earn your living;
- You can manage your own time and work around family and other commitments; and
- Working in a familiar and comfortable environment can significantly increase your productivity and earning potential.
Author: RealNet
