Practical House Hunting Ideas for Your Home-Based Business

Guest Article written by Tina Martin from ideaspired.com

Image via Pexels

Image via Pexels

According to the Institute for Economic Policy Research, about 42% of Americans work from home. With more people finding innovative ways to make money without leaving the comfort of their own house, now’s the time to start the home business you’ve dreamt about.

If your current residence doesn’t have the space you need to run a business, it may be time to upsize with your career and family in mind.

Envision More Space

Talk to your real estate agent about the space that you need. Before you begin your home search, decide on a budget. Be sure to include some wiggle room, especially if you’re planning on modifications to your new home to better suit your business. This might include things like a privacy fence, additional parking, a separate entrance for clients, and a client restroom and waiting area. 

While changes may vary in accordance with your final choices, get some estimates so you have a feel for what to expect. Then, with your overall budget in mind, make a list of your business’s needs and your family’s needs. Organize your list by must-have features and bonus features.

When looking at homes, keep your business and how it functions in mind. Be sure you select a property that is spacious enough for you to be productive. Think about things like whether there will be room for your business to grow, and what that will entail. You might need spaces for equipment storage, for instance, or a spot for surplus supplies. 

Speaking of Storage

If you use a computer at all for your bookkeeping purposes, client communications, invoicing, and so forth, give some thought to how you store your data. As Comparitech explains, you’re responsible for the sensitive information you collect. Getting hacked can be a costly experience, not to mention a hassle to resolve, so take steps to protect the information that passes through your business by using proper passwords, payment software, firewalls, and so forth. 

Protect Your Assets

There is another aspect of protection worthy of your attention, and that’s your own personal assets. When it’s time to choose a legal structure, many small business owners opt for an LLC for this reason, but there are other benefits, too.  An LLC provides you with flexibility for when you grow, and there are certain tax advantages. Just be careful about filing in accordance with your state guidelines; ZenBusiness offers some instructions on how to form an LLC in Oregon.

Think About Privacy

While running your business from home is flexible, you still need to set up boundaries. Set aside a time to work and a time for family. Let your family in on your schedule so that they’re less likely to interrupt, and ideally your office should be away from family traffic areas. Some people who work from home find it helpful to have ways to indicate that they cannot be disturbed. This can be as simple as a sign on your office door.

Aim for Curb Appeal

If you meet with clients, business partners or other professionals at your residence, your property needs to stay well-maintained. Curb appeal is critical to a good first impression. During your house-hunt, think about the neighborhood. Would your guests feel comfortable driving through it? Neat landscaping makes a big difference in how inviting your home is.

If the last owners didn’t invest in landscaping, analyze the yard’s potential. Consider hedges or garden beds for the property. Make sure that your family can keep up with the yardwork or hire a landscape professional.

Search for Parking Options

Clients and other guests require parking if they visit your business. Be sure to discuss parking with your real estate agent. Some neighborhoods may have restrictions. Think about how many guests you may have at your home at any given time. Would one open spot in your driveway be enough? Will your guests need to use street parking? Keep HOAs in mind when you’re considering parking. If the cars become a nuisance, you may make enemies out of your new neighbors. HOAs may also have specific rules regarding parking.

Check Local Rules and Regulations

In addition to looking into parking regulations, you’ll need to do plenty of research about operating your home-based business within the confines of your neighborhood. For example, zoning laws may restrict the type of business that you can operate out of your home. You may need to contact your local zoning board to obtain waivers or a zoning variance to legally operate your business from your home. Additionally, you’ll need to check with your Homeowners Association and look over your deed or lease to determine whether your home-based business violates any ordinances regarding noise or traffic. Last but not least, you may need to obtain special permits if you intend to put up any signage for your business.

House-hunting is always an adventure. It can also be incredibly daunting. When looking at properties for your home-based business, make sure that you let your realtor know what you need regarding features, location and other amenities, and they’ll have you in the perfect home in no time!

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