Make These Considerations When Your Home Doubles as Your Place of Business When you run a business from home, it needs to support you in all respects. The house should not only be conducive to
Make These Considerations When Your Home Doubles as Your Place of Business
Dated: March 4 2021
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Make These Considerations When Your Home Doubles as Your Place of Business
When you run a business from home, it needs to support you in all respects. The house should not only be conducive to working, but it should also benefit your bottom line and contribute to your business’s growth. To ensure your home does all that and then some, follow these important steps.
Looking to find a home that can accommodate your business? Partner with skilled realtor Karen Mitchell today! 954-488-1071
Assess Your Space
One of the biggest hurdles for anyone working from home is establishing an appropriate dedicated space for business. If you have a busy family or your house is tight on space, this can be particularly challenging. Steering clear of interruptions, ensuring you can focus, and allowing your business to flow positively are must-haves, which of course must be balanced with a happy, and perhaps bustling, household.
Think through how much space you really need in order to perform your duties in an ideal manner. Do clients come and go, so a separate entrance, parking area, and waiting room would be best? Do you need a workshop or storage building? For some, carving out a corner of the living room is sufficient, but for others, a major overhaul is sometimes necessary. If you need a little privacy or just better boundaries, Apartment Therapy suggests dividing a space with curtains or freestanding shelves. Sometimes it might even mean purchasing a new home to support both your personal and professional life.
Important Details
Beyond the basics of how your space flows and functions, keep in mind the equipment it will house as well. Square footage and layouts are critical, and if you rely heavily on computers, for instance, sufficient electrical outlets and internet connections are a must. For those remodeling garages, sheds, attics or basements, adding drywall and insulation might also be part of the picture.
Determine How Much You Can Realistically Afford
Start listing out and pricing the changes you intend to make. For remodeling projects, this will help to inform contractors so they can give you practical estimates for your budget. The Budget Dumpster recommends spending no more than 10 to 15 percent of your home’s value on any one remodeling project.
Simpler changes that you can DIY, like painting, adding a room divider and comfortable furniture, you should be able to price out online. If it all adds up to more than you anticipated and there is no place to edit, it may be that upsizing your home or purchasing one with a better layout is the most practical choice.
Work With an Experienced Real Estate Agent
An experienced real estate agent will be familiar with the restrictions and zoning requirements for home-based businesses in your area. An experienced realtor like Karen Mitchell is also intimately familiar with the market and can help you find a home that exactly meets your personal and business needs and is within your budget. While shopping around for a home on your own online doesn’t hurt, you should avoid making any major decisions without first consulting with your realtor.
Final Considerations
The type of business you operate may play a role in where you can purchase a home. For instance, some areas require any person who runs a home-based business to have a business license, while others strictly prohibit individuals from conducting business of any kind out of their homes. If your area requires a license, consider forming an LLC. As Zen Business explains, an LLC comes with several tax advantages, more flexibility, less paperwork, and best of all, limited liability.
If you run a home-based business, you have more than just creature comforts to think about when you decide to buy a new home. Make sure your future home is good for your family and your business, and connect with Karen Mitchell for her trustworthy and professional insights!
Karen M. Mitchell
When working with clients, Karen makes it a priority to get to know them and connect with them to fully understand what their dreams are when it comes to finding a home. Her warmth and loyalty with he....
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