Work life is constantly evolving. We’re always looking for ways to maximise our income and productivity levels.
It’s why it shouldn’t come as any surprise, that more and more people are starting to work from home, creating a new work environment in their home living space.
Whether it’s through being Self Employed or being a home worker for an external company, it’s hard to disagree with the perks of such an option. These can include:
With COVID-19 running rampant on the world, many workers, be it by choice or with hands tied, are taking the leap to home working. Many experts have speculated that when all this clears up and the world goes back to ‘normal’, that a large majority of the world’s workers will simply continue on from their home office spaces.
Some may feel though, that their home just isn’t well equipped for this kind of scenario, and feel they’d be better off moving to a bigger home with space they can use to their advantage.
Whilst for some this might be a good idea, you may also want to look at your Remortgage options. Not only will this allow you to keep your current home, but it may allow you to save more money.
The average costs for a basic home office are around £5,000. This includes things like a telephone, desks, computing equipment and more. For a larger and more kitted out home office, you could be looking around £15,000.
Probably the best and most cost-effective way of doing this would be to take your remortgage out over a longer-term. For example, if interest rates were 2%, taking it out over 25 years would allow you to pay off the costs of your new designer office with monthly payments of as little as £20-60 a month.
As an experienced mortgage advisor in Liverpool, we’ll be able to help the process get underway for your new mortgage. If you’re looking at possibly jumping into this option, get in touch and a Remortgage Advisor will happily have a chat with you and go over your options.