Setting Up a Space for Your Home Business

Buying or selling a home in Southeast Virginia? Connect with expert realtor, Chris Garguilo!

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(Article submitted by Alice Robertson of Tidyhome.info)

When you operate a business from home, you must have a productive area to stay on task. It is essential to find real estate where you can set up a workspace environment, and if you’re wedged into a corner or trying to operate from a seat on your couch, chances are your productivity is suffering—and perhaps your back as well!

Read on for tips that can help you set up a space that will work for you, and not against you.

Focus Problems

When you work in your home, distractions are everywhere. The day-to-day tasks of running a house and caring for children or pets can quickly suck your time away, leaving you frustrated and unorganized.

More Space, Please

Not every house has the space required for a home business. One solution is buying a new house to make room. In that case, you should follow some necessary steps when looking to buy.

This goes beyond factoring in the cost of the home itself. Calculate the expenses of the new property, and have a feel for what your business is going to bring in. A bigger house means increased costs. Also consider how much you’ll need to spend to get your business up and rolling in the space. New furniture, new equipment, remodeling, and so forth, adds up.

Once you’ve finalized a budget, take the mortgage amount you plan to pay plus the new figures and ask yourself if the resulting monthly payment is practical. You’ll need to get preapproval for a mortgage, which as U.S. News explains is more thorough than prequalification, and then you can begin a serious search for a new home.

Finding or Creating the Right Digs

Connecting with a trustworthy and knowledgeable real estate company is one of the most important steps towards finding the right home. That being said, you can start your housing search via the web.

WUSA explains that while there are many benefits to searching online, there can be significant drawbacks, too. It gives you a glimpse into what’s available, but experienced professionals know how to find the best options in the database that fit your requirements and price range. Agents also understand the subtle language in listing descriptions and can provide a crucial objective opinion regarding a home’s value. And they can help you navigate location-related concerns like zoning, fees and permits.

Of course, the other option is to revamp your existing home. You can either add onto your home to create more square footage, install an extra building for your work, or revamp an existing room, garage or basement to meet your needs. Your realtor can help you through these decisions as well, ensuring that your ultimate result boosts your property value—rather than hurts it.

Personalize Your Priorities

As you look at properties, think in terms of not only your current business’s needs and functions, but also your expectations for the future. Would you like to meet clients in your space? Will manufacturing be part of the picture? Do you require an outbuilding for storage of supplies or equipment? How separate from family members should your work area be, and will parking be an issue if clients or delivery vehicles come to your home? All of this should be taken into account, and communicated to your real estate agent.

Moving Forward

Once you have made a plan regarding the purchase or re-design of your property, you can focus on your organization. It is crucial first to choose a business structure for your new company. Your entity type has legal and financial implications, so you need to evaluate what is best for you.

A limited liability company is a popular choice, thanks to its simple structure and minimal startup and compliance requirements. However, keep in mind that every state is different, and you must meet the rules and regulations in Virginia. You can easily get your business established by going through an online service, sidestepping figuring out the nitty gritty details yourself.

Operating a business out of your home allows for more flexibility than renting or buying office space. The benefits of designing a space that fits both your personal and professional needs can be substantial.

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