{"id":18389,"date":"2020-08-24T10:58:23","date_gmt":"2020-08-24T17:58:23","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=18389"},"modified":"2024-11-25T09:05:12","modified_gmt":"2024-11-25T17:05:12","slug":"building-a-home-office","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/building-a-home-office\/","title":{"rendered":"From the Kitchen Table to ‘Real’ Home Office: Here\u2019s How to Get There"},"content":{"rendered":"

For a growing number of employees in the U.S., the morning commute has become far shorter than the U.S. average of 26.6 minutes<\/a> \u2014 nowadays, it consists of a 30-second walk from the bedroom to whatever space has been designated as the home office.<\/p>\n

The work-from-home trend was already growing well before COVID-19 sent physical workplaces scrambling for remote setups. Statistics show that as of 2018, there were 4.3 million remote workers in the U.S., which was an increase of 140% since 2005. And workforce analysts predict that even after the pandemic, by the end of 2021, as many as 30% of all employees<\/a> will still be working from home at least part of the week.<\/p>\n

If your at-home workspace involves a bed, a couch, or the island in the middle of a busy kitchen, it’s time to think about building a home office of some sort. Not only will the designated space help you work more productively and minimize interruptions, it could also enable you to take a home office deduction when filing your income taxes.<\/p>\n

So, where to begin? We’re here to help guide you through the essential steps.<\/p>\n

\"Paper<\/a>
<\/a> Source: (Kelly Sikkema \/ Unsplash)<\/figcaption><\/figure>\n

What\u2019s the cost to create a home office?<\/h2>\n

The cost of setting up a home office will vary widely depending on your needs, goals, and property layout, but it likely doesn\u2019t have to break the bank \u2014 or even put a dent in it.<\/p>\n

Top Florida real estate agent Ron Wysocarski<\/a> doesn\u2019t recommend spending a lot of money on an extravagant office unless it\u2019s absolutely necessary. To get his home office up and running, his main purchases included a stand-up desk, laptop, cell phone, scanner, and a good chair.<\/p>\n

If you already have a designated room available and ready to furnish, the cost will be significantly less \u2014 anywhere from $400 to $3,000<\/a>. But if you need to hire contractors to do any renovations, additions, drywall work, or electrical wiring, that can significantly drive up the expense.<\/p>\n

According to HomeLight research, to build a new home office, homeowners can expect to spend an average of $12,000 \u2014 but they will get an approximately 87% return on that investment when it comes time to sell.<\/p>\n

That said, Wysocarski notes that bedrooms and bathrooms rule the day when it comes to boosting resale value. \u201cMost buyers would much rather have four bedrooms than have three bedrooms and an office,\u201d he says.<\/p>\n

Of course, that could be changing. As a growing number of companies are requiring or offering the option to work from home, more buyers will likely start including home offices on their must-have checklists.<\/p>\n

Is adding a home office tax-deductible?<\/h2>\n

You may be able to recoup some of the cost of creating a home office by writing it off as a tax deduction. Michael Hammelburger<\/a>, finance expert and CEO at the Expense Reduction Group<\/a>, says you may qualify for a home office deduction if you are self-employed and meet IRS guidelines<\/a>, which include:<\/p>\n