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Real Estate News and Advice |
August 21, 2008 |
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Should Your Home Have Two Offices?
by Lew Sichelman
My cousin and her husband are buying a house with not one but two offices. I tell you this because these are the kind of people who exacerbate trends, making them seem stronger than they really are. They're both retired and living in Florida. But they've just sold their year-round place in Delaware, and they need some place to park their profits. And since they no longer spend any time up North, these former Snow Birds are moving to a bigger place. One with his-and-her offices. Not that Cuz and hubby really need them. Oh, he does some consulting and checks his stock portfolio several times a day, and she plays around on the computer and knits. But they could just as easily use a spare bedroom for these endeavors. Or even the dining room table. They've got the money, though. And since they're making a bunch of custom changes to the tract house they're buying in Bonita Springs, each of them is getting a home office. Now there is a definite swing toward home offices, especially in new construction. But not only is two a little much, the office-in-the-home thing isn't all that well pronounced. At least not according to the latest Census Bureau data. Admittedly, the government's numbers are a tad old. Circa spring and summer of 1997, to be exact. But here's what they say: In a typical week back then, only 7 percent of the population put in at least one full workday at home. That's 9.3 million people, but it's still only 7 percent of the total. About two-thirds of these folks worked exclusively at home, with the rest splitting their work time between their homes and some other location. Moreover, of those who worked in more than one spot, six in 10 worked only one day a week at home and 20 percent more worked just two days at their residence. Census also found that half the 6.4 million people who worked only at home were self-employed and 54 percent were of the female persuasion. Clearly, these folks needed a home office. But of those who worked in two places, 52 percent were employed in executive, administrative, managerial and professional occupations in positions that made home offices a nice convenience but not absolutely necessary. Also, those who split their work time had higher levels of education and higher earnings. In fact, the government found that the average annual earnings for those who worked both at home and somewhere else were about $15,000 higher than for those who worked only at home or who never worked at home. Here's how I read all this: If money and/or space is tight, don't be buffaloed by the supposed rage in home offices. Unless you are self-employed, use a spare bedroom or the kitchen table and use the rest of your square footage for more pressing needs. You won't lose out when you go to resell because (a) the trend is just not that strong and (b) your buyer can always convert the space if he or she absolutely, positively must have work space. Incidentally, while we're on the topic of trends, I also thought I'd let you know that I'm doing my part: I'm buying my cousin's old place. Now I'll have two vacation homes. Waddaya gonna do?
For more articles by Lew Sichelman, please press here. Published: February 4, 2002 Use of this article without permission is a violation of federal copyright laws. Related Articles:
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