6 Tips for Buying a Home While Starting a New Business

One important consideration when you’re preparing to start your own business is whether the home you’re presently residing in will suffice to sustain both you and your new business. If your home is too small or otherwise inconvenient, this could limit future business success, and make the work of entrepreneurship less invigorating, and more stressful. You want to feel as free and empowered as possible, during that exciting time when you’re getting your business off the ground. So if your house is holding you back, you may want to look at relocation as a serious option. Here are some helpful tips for how to go about this with minimum stress and expense.

Know what steps go into starting a home business.

Before you begin house-hunting for a new home for you and your business, make sure you have a clear perspective of what all will go into getting your business launched. Your first step should be to write up a business plan. Next, you should consider different legal structures for businesses and figure out which will work best for you. Read up on any licensing or certification you will need to operate a business in your industry of choice.

When you’re moving and starting a business, you’ll have a lot on your plate. Keep yourself organized and on track with a monthly planner template. This template allows you to create a visual representation of every deadline you need to meet.

Know what you want in your new home.

Take some time to write up a list of what you need and want in a new home, keeping in mind both your business and your personal life. Some details to consider include location, the number of rooms, having enough space, parking access, and zoning for business. You will probably want to find a house where you can set boundaries between your workspace and your personal space, also. 

Think about the future.

Keep in mind that your needs right now may not be the same as your needs five years from now. Do you anticipate a lot of business growth? What about changes to your family size? For instance, you may eventually opt to move your business into a commercial building. If you have kids, they will likely move out at some point. If your needs may change in the near future, you may want to rent for now, and buy later. Also, consider whether modifications can be made to the house you buy if your business or living arrangements change.

Work with a good real estate agent.

Having a professional and experienced Atlanta realtor like Matthew Share by your side will make house-hunting and buying a lot easier. When you select a real estate professional who understands your specific needs, it’ll be easier to find a home that can accommodate your family and business.

How to save when purchasing a home.

You want to go in ready to make a deposit of at least ten percent, so the sooner you can start saving for a down payment, the better. Think about expenses you can cut for the short term, just to have more cash on hand for your purchase. If you’re considering buying a fixer-upper “as is” to save money, make sure it’s a viable investment and not going to end up as a money drain.

Hire professional movers.

You’ve got enough on your plate right now, without having to worry about relocating your entire life and business completely on your own. So look for a good moving company in your area that will look over your home before writing up a moving estimate. Don’t hire a mover who won’t give you a contract in writing, or who isn’t insured.

Though moving while you’re in the process of launching a business may seem like a recipe for extra stress, the effort you put in now can translate into a more efficient and profitable business later on. So if you’re questioning the suitability of your present residence as a business location, consider relocating earlier rather than later.

Content contributed by Andrea Needham of eldersday.org

Image by: https://pixabay.com/photos/home-interiors-kitchen-2486092/