You’re eager to launch your home-based business and chart a new course as an entrepreneur, but your current property just isn’t big enough to accommodate your needs. Now, you need to upsize and move somewhere larger. Presented by e-course alley, these tips will help you find a property with enough square footage and take your first steps towards opening your business.
HOUSE HUNTING AND SAVING MONEY
The home buying process can be complicated. To make matters easier, you’ll want to find a great real estate agent who understands what you’re looking for in a home. First Star Realty recommends looking for an agent with extensive negotiation experience and access to exclusive listings. Furthermore, an agent who has worked with other home-based business owners will be able to apply their expertise to your home search.
You’ll want to look for a home in an area with high internet speeds. You should also make sure that your new home has plenty of room for a home office or workspace. It doesn’t hurt to seek out a property within walking distance of coffee shops, libraries, or coworking spaces either!
If you’re starting a business, and you know that you’ll need to dip into your savings in order to cover your initial costs, you might be hesitant to put an offer on expensive property. After all, you want to ensure that you’ll have plenty of cash left to maintain an emergency fund, cover home maintenance costs, and fund your business operations.
There are plenty of things you can do to save money during the home buying process. For instance, you could research up-and-coming neighborhoods where housing is likely to be cheaper, or you could look into buying a condo rather than a single-family home. You might also be interested in saving money by purchasing a home “as is.” If you do choose to go down this route, keep in mind that while you’ll spend less money upfront, you may need to finance extensive renovations. Therefore, you’ll want to talk to a lawyer if you’re hoping to buy a home “as is.” You should also personally check out the land records to note any warning signs and inspect the property thoroughly.
DESIGN YOUR WORKSPACE AND LAUNCH YOUR BUSINESS
If you’re going to be doing business from your laptop, you’ll need to design a home office. To get started, you can set up any office furniture you already have, and then head to an office supply store to pick out other items you might need. You can also decorate your space with artwork, photographs, or house plants!
What if you’re going to be creating a line of products at home, like wooden birdhouses or greeting cards? You may want to use your garage as a workshop space. You’ll need a large table and plenty of storage solutions for all of your materials and tools.
Once you’ve moved into your new home and assembled everything you need in your home office or workshop, you’ll be excited to start your business! Now, you’ll need to write up your business plan to guide you through the early days of entrepreneurship. Growthink.com recommends writing up an industry analysis so you can get a feel for your competition, outlining your target customer profile, describing your marketing strategy, and creating financial estimates regarding your projected income and expenses.
Upsizing to a bigger home can be an exciting process! With more space, you’ll be able to build the business you’ve been dreaming about. By following these tips, you’ll be prepared to start house hunting for a property that is the right fit for your entrepreneurial ventures.