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4 Steps to Take Before Buying or Building a New Home for Your Business

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There are many tools available online to help your home-based business grow, but there may also be a time when your business really needs to succeed in a bigger home. Having your business outgrow your home can be exciting, but thinking about finding or building a home can also be stressful. If you want to save yourself some headache, Leaf & Lake Design offers some insight on the steps you should take.

Definitely Pay Down Debt

Buying or building a is a huge financial commitment, so that you may need a loan. However, before you begin applying, you should take some time to clean up your credit and pay down your debts. If you feel overwhelmed by debt, know that debt relief solutions can help you clear a path to financial freedom. Even if you have older debts, taking care of them can prevent wage garnishments and lawsuits.

Hire a Real Estate Pro

Whether you plan on buying land or a home, doing so without a real estate agent is possible, but it can also be time-consuming and tricky. True, you may save money by foregoing real estate help, but you could also end up missing out on perfect listings and missing out on time you could be spending on other responsibilities and projects. Only consider this option if you know exactly what home you want or have access to an abundance of listings on your own.

Otherwise, Homelight notes you can find the right realtor by asking for recommendations and interviewing multiple candidates. While expertise and experience are so critical, you should also look for a real estate professional with whom you click on a personal level. This will help eliminate any awkwardness when it comes to saying “yes” or “no” to properties or negotiating an offer during your home or land search.

Look For A Separate Office Space

When you are running a business out of your home, it can be nearly impossible to “escape the office.” That’s why you should consider keeping your workspace separate from living spaces. One way to accomplish this is with an outdoor office space.

With a bathroom and even a kitchenette included, an outside office can help you stay focused during work hours and perhaps help with work-life balance. As a matter of fact, carving out dedicated office space is one of the top recommended tips for finding that balance when working out of your home. So even if you set up a workspace in a different area, try to create some separation.

If you plan to receive clients in your home office, it’s worth it to have your space professionally decorated and designed. Leaf & Lake Design has experience in home office design, and you can opt for virtual or local services.

Ensure Access to Essential Tech

Having a fully-outfitted office can provide a complete solution for your home-based business. If you choose to locate your workspace in a more creative area of your home, you need to make sure that space is wired for productivity. While this may seem like a given, you’d be surprised at how many folks set up an office in a shed or basement without thinking about how they will access the internet or even electricity. If you plan on setting up your office outside the main house, How-To Geek explains that there are outdoor Wi-Fi solutions that can help you power up your new workspace.

Tackle the Legal Details

If your business is still in its fledgling stage, you may have a few more details to iron out as you expand. First and foremost should be having a business license. Next, it’s ideal to go ahead and set up your business structure. Many entrepreneurs opt for an LLC thanks to the tax advantages and the ease of formation. To maintain compliance, an online registered agent can assist with handling necessary correspondence and paperwork with various government agencies, so you’re always meeting state requirements.

If your business is outgrowing your home, that must mean business is booming! So take a few moments to celebrate your success and then start taking the steps above to plan for a new home where your business can continue to grow and thrive.

Written by Tina Martin for leaf & lake design. If you read this article and need help decorating or organizing your home, see Leaf & Lake Design services.

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