Working from home has become increasingly popular in recent years, but as your business grows, you may find yourself needing more space. If your home office is no longer sufficient, you may be thinking about upgrading to a larger house. However, before making a move, realtor Kerri Jonikas has some suggestions to make the process a little easier.
Figure Out How Much Business Space You Need
The first step in purchasing a larger house is to assess your business space needs. Consider the type of work you do and the equipment, resources, and space required for your business operations. Will you need additional storage space, or will you require space for employees or clients to work? Will you need a dedicated area for meetings or conferences? Make a list of your needs and prioritize them to ensure that your new home will meet your business requirements.
File the Right Paperwork
If you plan on running a home-based business out of your new home, it’s important to ensure that you have the correct licenses and permissions for your area. Some jurisdictions require business permits or licenses, and it’s important to check with your local government to ensure that you are complying with all regulations. Failure to do so could result in fines or legal action. You should also note that if you are looking to purchase a home that has a homeowner’s association you should review the bylaws to ensure operating a business out of your home is permitted. Most Homeowners Associations prohibit this.
Protect Personal Assets by Forming an LLC
When starting or expanding your home-based business, the protection of personal assets should be a top priority. One way to achieve this is by forming a limited liability company (LLC). An LLC separates your personal assets from your business activities, which can help protect your finances in the event of a lawsuit or legal action.
Consider Adding Exterior Signage for the Business
If your home-based business will require clients or customers to visit, you’ll want to ensure that it’s easy for them to find your location. Installing exterior signage can help your business stand out, making it easier for clients to locate your home. It will also inform neighbors so they understand the traffic in and out of your home.
Create a Designated Door for Clients
If you plan on having business clients enter your home, creating a separate entrance for them can help maintain your privacy and security. Consider creating a separate entrance that leads directly to your office or business space. This allows clients to enter without having to pass through your personal living areas.
Sound-Proof Your Office
Working from home can be distracting, especially if you have loud traffic or other noise outside. Installing sound-proofing material can help reduce the impact of outside noise, allowing you to work in peace and quiet. It can also lessen any household noise.
Optimize Visibility with Functional Lighting
Proper lighting is essential for creating a functional and comfortable workspace. Installing adjustable lighting allows you to control the amount of light in your workspace, which can help reduce eye strain and fatigue. Additionally, by installing lighting that mimics natural light, you can create a more comfortable and productive working environment.
Go Back to School
If you feel like you could use some additional foundational knowledge to help you with your business, maybe pursuing an MBA degree is the best option for you! If you choose to take advantage of the flexibility that comes with online educational platforms, you can learn at your own pace without having to step away from your business. That will allow you to take what you’ve learned and put it into practice in real time!
Expanding your home-based business may require upgrading to a larger house. Before doing so, it’s important to consider your business space needs, ensure that you have the correct licenses and permissions, protect your personal assets through an LLC formation, and consider practical renovations such as creating a separate entrance, soundproofing material, and functional lighting. By taking the time to carefully consider all of these factors, you can ensure that your new home is not only a comfortable living space but also a functional and productive workspace for your growing business.
Article Written By: Claire Wentz