Dive Brief:
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The share of the American workforce doing some or all of their job from home rose from 19% in 2003 to 24% in 2015, according to an analysis of Bureau of Labor Statistics data by the National Association of Home Builders.
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Of that figure, most at-home workers ages 16 and older were found in the West, Northwest and Northeast regions of the country. Colorado reported the highest share (7.1%) while Mississippi posted the lowest (2.2%).
- The geographic spread is credited, in part, to where the types of jobs that typically allow for teleworking are often located as well as local workforce age and education levels and cultural conditions.
Dive Insight:
An uptick in the share of Americans working from home presents an opportunity for builders and remodelers when offering value-added amenities such as a home office or a finished basement.
Yet proving that value can be a challenge. In the 2015 version of its annual Cost vs. Value Report, Remodeling found that a midrange home-office remodel would recoup 48.7% of its construction costs upon resale. (The publication didn't track the project type in 2016 or 2017.) That’s down slightly from 48.9% in 2014 and considerably from 72.9% in 2005, as construction costs have risen more significantly than have project values. Remodeling’s 2005 report cited a home-office remodel’s project cost at $13,143 and its resale value at $9,569 compared to a project cost of $29,066 and a resale value of $14,155 in 2015.
While adding a home office recouped slightly more of the initial investment than did a sunroom, it came in behind that of a basement remodel (72.8%) or a midrange attic bedroom (77.2%).
Spaces that have cross-functional value, such as a finished basement that can host overnight guests and recreational activities while leaving room for a desk and storage, fall under the category of universal design. That category is seeing increased attention as builders and remodelers try to create housing that meets the needs of multiple life stages.
Pardee Homes, for example, has incorporated a versatile in-law-style suite in home plans in a selection of its West Coast markets. Features of the GenSmart Suite include a separate sleeping space, bathroom, wet bar and entrance.
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