The recent rise in remote work opportunities means more and more people are working from home. While carving out a spot to work from in our living rooms, bedrooms, or kitchens may serve as a temporary solution, it is rarely feasible in the long term. We need a dedicated space where we can comfortably concentrate on our work—without household distractions—maybe even attend a virtual meeting or two. As a result, more and more new home buyers are looking for a home with a space that makes a good home office.
The Housing Situation
In 1985, the Census Bureau reported the average single-family home size at 1610 square feet. By 2020, new single-family homes had ballooned up to 2,333 square feet, while the number of people living in each household dropped. During that time, housing prices also skyrocketed, with the average price of a home increasing by over $100,00 since just 2011.
According to realtor.com, that puts the average price per square foot at $123. Home offices can vary in size, but most fall somewhere between 50 to 150 square feet.
While the houses are larger than they used to be, they aren’t necessarily better designed for working at home. Some builders added space with huge open areas and vaulted ceilings, while others added extra bedrooms. Vaulted ceilings don’t add workspace, however, and an extra bedroom can add between $30,000 to $50,000 to the final cost of the house.
Monthly rental rates keep going up as well. Two-bedroom apartments in Fort Collins were renting for around $800 in 2011, while today’s average rental for a two-bedroom apartment is $1,564. Adding a third bedroom to that equation shoots the average cost up to $2,100, an increase of over $500 a month.
The Coworking Solution
Joining a coworking community is a cost-saving alternative to buying or renting a larger property than you actually need. Most coworking spaces have additional equipment available for members to borrow while they are on-premises. That may include items such as extra monitors, mice, connectors, and even charging cables.
In addition, the space is set up to be as ideal as possible for productivity, including having several types of desk set-ups available, phone rooms for more private conversations, and plenty of power outlets available. Members can utilize either of the conference rooms as well for either in-person or Zoom meetings.
In addition, some employers may pay the cost of the coworking space for their remote employees, so asking is a good idea. Small business owners and freelancers are also able to deduct the cost of the membership for their taxes.
Want to learn more about how working at Cohere Coworking can work for you? Schedule a tour to visit us today!
One of the many benefits of becoming a remote worker or entrepreneur is not being tied to your job by geography. One of the drawbacks is that you have to find and often even finance a space to work in. Working out of a well-run coworking space like Cohere Coworking ensures you not only have a productive place to go to, but that it is also comfortable and stocked with essentials like coffee, extra monitors, and stable wi-fi.
About the Author: Cohere member Penny Leigh Sebring is an experienced freelance writer, neophyte speculative fiction author, and a gatherer of information and imaginary friends.
“Housing Market – Real Estate Market – Growth” by gfdnova1 is licensed under CC BY-SA 2.0