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The Best Way to Find a New Home That Is Suitable for Both Living and Working
Author: Susan Peterson
It’s no surprise that a lot of people are dreaming about setting up their own home-based business. The freedom that comes from being an entrepreneur is appealing. There's just one problem: they often don't have enough space at home to do it!
If you want to start your own home-based business but can't find the room for it in your current house, it might be the perfect time to move. Trinity Skys shares a few more tips to make the move and business start-up as smooth as possible.
- Choose to buy or rent. As you search for your next home, it’s important to decide whether to buy or rent. Each option has its own pros and cons. Your choice is primarily determined by your timeline, how much you can afford, and knowing how either renting or buying will fit into your lifestyle.
- Pass inspection. Presuming you’ve narrowed your focus onto a particular new home, an inspection will be necessary before you can close the sale. This step ensures that the property is in good condition and that there are no hidden issues that could cause problems down the line. Additionally, the inspection report can be a valuable tool for negotiating repairs or price adjustments with the seller.
- Check out a home warranty. Buying a home warranty can be a strategic move for homeowners seeking to mitigate potential financial headaches associated with home repairs and replacements. It typically covers major appliances and home systems, offering some degree of financial protection when these elements malfunction or break down. You can also add extra coverage options, such as electronics insurance, to cover home electronics devices not covered under the warranty.
- Draw up a solid business plan. There are plenty of online resources to help you, or you might want to consult a financial advisor for support, but having a business plan is critical to help you make decisions in your business. It will also come in handy if you need to approach outside investors or banks for loans, as it gives them the information they need to evaluate the risks and potential upsides of investing in you.
- Look for a home that has enough space for your business to grow into. You might only need a desk and a phone right now, but you should be using your business plan to evaluate your realistic expansion goals in the next few years and plan to have enough space for it.
- Review your top neighborhoods, their proximity to what you need for your home and work life, and compare prices. Take into account if you need easy access to public transport, proximity to good schools, airport hubs, or your clients or suppliers.
- Budget for office furniture and electronics. In the first few months or years of a business, you're likely to be spending long hours sitting in front of a computer or screen. Make sure you have ergonomic office furniture, a decent-sized screen, and everything else you might need to help make you more productive and protect your health.
- Stay on top of your accounting. Even if numbers aren't your thing, TechRadar notes that there are plenty of integrated accounting software options out there that will allow you to manage your bookkeeping, payroll, and taxes all in one place. You can even find many that have a mobile app so you can stay on top of it all from any place and scan invoices on the go.
- Separate your office space and working hours from your personal life. Many entrepreneurs struggle to balance work and play when their office and home life is all under one roof, especially with today's constant notifications calling for our attention. Set clear hours and spaces for work and respect the boundaries.
Hopefully, this article has inspired you to take the next steps to find the ideal home office to get started on your new venture! You can be sure the next few months will be busy, but definitely worth it to allow you to make your entrepreneurial dreams a reality.