When you run a home business, it’s important that your home environment can accommodate both living and working. You’ll need an office where you can work without distractions, storage areas for supplies and equipment, and possibly even a client-friendly space where you can hold meetings. Sometimes, moving is the only way to make room for a new business.
Moving and starting a business at the same time doesn’t have to be as stressful as it sounds. There are plenty of resources out there that can take some weight off your shoulders. Here are some tips from TV Tray Desk to help!
Determine Your Buying Budget
Before you begin house hunting, calculate how much home you can afford. How much money do you have for a down payment? If you can only afford a small down payment, make sure you can handle the monthly mortgage payments on your current income. Keep in mind that your debt service ratios and credit score will also impact your home affordability.
Also, remember to consider how much money you need on hand to cover your business startup costs. Save money wear you can — for instance, save on marketing and design by using a free logo creator online. That way, you can still attract customers while saving money for other areas — like setting up that snazzy business website, printing business cards, or getting an EIN number online.
Account for Additional Expenses
Buying a home comes with many hidden costs. Make sure you account for these when developing your budget! Beyond realtor fees and moving costs, you should also be prepared to cover upfront costs. Some common expenses include home inspections, buying new furniture, and having the locks changed.
After buying your home and moving in, you may need to spend some money on home repairs and upgrades. You can save a lot of money with DIY fixes. Try tackling simple, common repairs yourself before hiring a contractor.
Hunt with Your Business in Mind
Once you’re clear on your buying budget, you can start looking for a new home. Try to keep the needs of your business and family in mind as you hunt for properties. To accommodate your business, you may need a home with an extra bedroom or a den that you can convert into an office.
Pay attention to the view outside the office window. Will you find it too distracting? Similarly, will you be distracted by neighborhood noise? MYMOVE also suggests looking for a home office that is far away from household traffic so you can keep your distractions to a minimum.
Declutter Before Moving
Decluttering before your move will save you time and money. By getting rid of stuff that you no longer want or need, you will have fewer boxes to pack and less stuff to load onto a moving truck. This will also leave more space in your new home for business supplies and equipment. And when you unpack in your new home, you’ll be able to get everything put away much more quickly, so you can get down to business as soon as possible!
Having extra space in your home for an office can have a significant impact on your productivity. When you don’t have to play musical chairs at the dining room table or lock yourself in the bedroom to escape from the kids, you will be able to get more done in less time. So do yourself and your business a favor and start hunting for that new home today!