Creating an Ideal Workspace for your Home-Based Business
Working from home certainly has its benefits, but it can be challenging to be as productive as necessary if you’re bouncing from one area of the house to another. Having a dedicated workplace in your house should be a priority for your home-based business, whether it’s getting creative with repurposing an unused area of your home or buying a bigger home. If you’re set on finding a new home that’s more appropriate for your needs, the Streamline Realty team can help.
Get creative with your space
When you’re considering spaces in your home that you could turn into an office, think outside the box and get some ideas online. Even small apartments can support office space, whether it’s rearranging your bedroom furniture and buying a small desk, or cleaning out a closet for your workspace. Another option is to section off space in your living room with some room dividers.
If you share a house with roommates, one of the best ways to ensure privacy while you work is by using your bedroom for your office. This doesn’t mean jumping into bed with your laptop. Rather, consider ways to rearrange the bedroom furniture that would give you enough space to include a desk and chair. Position it in front of a window, and you might even forget you’re in your bedroom.
One way to make great use of space in a small house or apartment is by transforming a closet into your office. To create your “cloffice,” you’ll need either a small desk that can fit inside or a few tools and materials to build one yourself. Remember to include a small lamp so you’re not working in the dark, and consider installing some shelving to help you stay organized.
Buying a new home
If you’re sure your current house isn’t big enough to support your home-based business, it’s probably time to look for something more appropriate. While you may be eager to move right away, there are some important steps to take first.
Before you start combing the local market, check your credit report to see where you stand. If your credit is lacking, take some time to build it back up by paying off credit cards and reducing your overall debt. It’s important to always pay credit card bills on time, even if you can only afford the minimum payment.
Consider how much you can realistically afford for a new home. This is fairly easy to determine: first use a mortgage calculator to figure out what your monthly payments will be, and look at your income to figure out if it’s feasible for your budget. You can play with the numbers a bit, keeping in mind that if you put extra funds toward your down payment, you might be able to avoid mortgage insurance.
You’ll also need to get pre-approved for a loan and find a great real estate agent to help you find a home that’s right for your business and your family. Then, start looking for homes online that match your needs and your budget.
Business tips
Running a business requires careful planning: It’s important to choose the right business structure to protect your personal assets and stay current on your taxes. One of the most common options is an LLC or a limited liability company. An LLC will allow you to keep your personal assets separate from the business. It’s cheaper and not too difficult to form an LLC in Massachusetts without a lawyer, so do some research to determine what’s required in your state.
Setting up a home office for your business doesn’t have to be difficult, but it’s important to recognize when your space isn’t right for your needs. If you can’t create a comfortable office in your current home, do some research to determine what you need to buy a new home because your business has a better chance of thriving if you have the physical space to let it grow.
Looking for a new Massachusetts home? Reach out to the Streamline Realty team to find the perfect house that supports both your business and your personal needs! Contact us today!