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Creating the right space for running your home-based business takes time and planning. You could renovate a garage or attic, redesign a guest room, or even buy a new house entirely. Starting a home-based business can be rewarding, but it’s also challenging. Operating your company from home means you need to set yourself up for success.
Are you thinking of running a business from home but aren’t sure you have space? Not only do you need the right space now, but you also have to think about the future and how you’ll need to grow. Here are three ways you can create a space that allows your business to grow.
Renovate Your Attic or Garage
There is plenty of potential awaiting in an attic or a garage. A remodeled garage, once you look past the car, can be an effective place for a home office. But there are some important things to consider before you pull out your tools. Is your garage climate controlled? You’ll want to ensure you can comfortably work in this space throughout every season.
If a garage isn’t an option, look a little higher. Renovating your attic could give you peace and privacy from the bustling home below. Before you start putting up walls, make sure you aren’t too far away for steady wifi access. Check and make sure outlets are grounded so they can handle computers, phones, printers, and other tech you need.
Buy a New Home with More Space
If you and your business are ready to grow, buying a new home could be the best option. If you store inventory, will see clients or host groups in your home, be sure to check your residential area is zoned for that. And consider a place with a separate entrance, especially if customers will come by from time to time. The kind of real estate you need depends on your business.
If you form a limited liability company (LLC) for your home-based business, you could apply for small business loans or credit that could help pay for some of the real estate that you’ll use for work. With an LLC, you can also apply for tax advantages and have limited liability coverage. Regulations vary from state to state, so be sure you do your research first, especially if you are buying a home in a new state.
Design a Home Office
For some businesses, a spare bedroom or bonus room can be the perfect home office set up. Keep a few things in mind as you begin to design, especially if you are early in your business venture. First, try to use a room that is apart from the rest of the house, so you can limit the distractions and promote work-life balance. Next, consider storage. If you will be housing inventory or use a lot of tools or equipment in your work, you’ll want a place to store it all.
When it comes to designing your home office, you have a lot of options. From built-in desks to portable workstations, the kind of business you run will drive your design. But it also needs to be about you — who you are, what inspires you, and what you need to have a productive workday. The professionals at Nancy’s Real Estate Team have helped many people with these same questions find their own unique solutions to their home-based business space concerns.