Developers Take Note: Millennials Want to Work From Home

A new study from Canada’s Telecommunications Industry: Industrial Outlook Spring 2014, reveals that over 70 percent of full-time workers between the ages of 18-29 would prefer to work from home.

What does that have to do with condo development?

Good developers always listen to their target demographic, so we’re thinking we might start seeing more developments highlighting studies and offices, in addition to the standard kitchen, bedroom(s), living room and baths. Renowned journalist, author and Canadian Business expert, Peter Nowak says that the housing industry has already been affected by telecommuting, making fast internet an essential factor for home buyers. “A home’s internet connectivity is becoming an increasingly vital selling feature, like a big backyard or a new roof, to the point where houses without good access are being valued up to 20 percent lower,” he says. Wide-spread access to the internet in homes facilitates telecommuting for employees from all kinds of companies ranging from blogging to website designers for the Bank of Canada.

Den at Pemberton Group's Ten93 Queen West

That being the case, the dream of working from home can be frustrating to those who don’t necessarily have the space. Speaking from experience, having a designated “working space” (like an office) can help maximize productivity by sheltering you from distractions. Working from a bedroom office probably isn’t ergonomical and working on a kitchen table might lead to greater temptations, but many people are satisfied working from a home office. The study indicates that Generation Y workers aren’t the only ones who feel this way; whatever the age bracket, employees surveyed said they would prefer to telecommute. This information is important, because spaces with built-in offices or dens might therefore increase the overall value of a unit. Homebuyers are attracted to the idea of having a place to conduct business so that they don’t have to go into the office everyday and still feel like they’re “at” work. Now that the numbers are concrete and the proof is in the survey, it will be interesting to see how new developers change the way designs are shaped to accommodate telecommuters!

Tell us what you think, would you prefer a home with a space for an office or study?

Feature image - the model den at 90 Niagara by Fieldgate Homes