How To Buy a Larger Home for Your Thriving Business
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If you work from home, you may have started out in a small space like a bedroom or den.
But as your business has grown, so has your need for a larger office. You may wonder if it’s
time to buy a house that can accommodate your business. There are a few things to keep in
mind when making this decision. Contact The George Woods Team discuss the details here.
Re-Examine Your Business Structure
The first thing you’ll want to do is take a good hard look at your business structure. Are you
still operating as a sole proprietorship? If so, you may want to consider establishing an LLC.
This will give your business the legal protections it needs as it grows.
Just know that each state has requirements and regulations for LLC’s, and it’s essential to
understand them before moving forward. Fortunately, a formation service can set up your
LLC in compliance while saving you time and stress.
Returning to School
As your business expands, you may find that you need to return to school to expand your
knowledge and skills. This could be anything from taking an online course to getting an
MBA. Whatever route you decide to take, be sure to choose a program that will fit into your
schedule and help you meet your goals.
Pursuing a degree in business or communication could take your business acumen to the
next level. And studying online would allow you to learn without compromising your other
Finding an Experienced Real Estate Agent
When you’re ready to start looking for a new home, it’s important to find an experienced
real estate agent who understands the needs of businesses. They can help you find a
property that has the right features for your business, such as enough space for an office
and good internet access. Contact The George Woods Team if you want to purchase a home in
Knowing What To Look for in a Home
Once you’ve found a few potential homes, it’s time to start thinking about what you need to
run your business effectively. For example, if you’re planning on doing any manufacturing
or shipping from your home, you’ll need easy access to loading docks and freight elevators.
And if you’re going to be seeing clients regularly, you’ll want a separate entrance for them,
so they don’t have to go through your living space. Keep all of these factors in mind as you
narrow down your choices.
If you can’t find a house that meets your personal and business needs, consider having one
built. Buying new construction is a little bit different than purchasing a house, so it’s good
to know the difference before getting started. You’ll have two loan options: a construction-
to-permanent loan is one you build and pay as the home is built, and at the end you can
convert it to a traditional loan. On the other hand, a new construction loan has stricter
requirements, higher interest rates, and a shorter loan duration. Both have their
advantages and drawbacks, so think about your choice before you make it.
Once you’ve decided on new construction, contact Woods Construction for a consultation
to get a plan started for your new home!
How To Handle the Home Purchase Process
The home-buying process can be complicated, so you’ll want to have all your ducks in a
row before moving forward. Ensure you’ve been pre-approved for a mortgage and have
lined up adequate financing.
You’ll also want to get a home inspection and appraisal to ensure that the property is worth
what you’re paying for it. Once everything checks out, you’ll be ready to close on your new
property and start setting up your home office!
Creating a Home Office That Supports Your Business
Once you’ve moved into your new home, it’s time to start setting up your office space.
Think about what kind of equipment and furniture you’ll need to be productive and
comfortable while working from home.
You may also want to consider soundproofing your office, so work doesn’t interfere with
your family life too much. By taking these factors into account, you can create a wonderful
home office that will help take your business to the next level!
Find – or Built – The Perfect House
With today’s technology, more and more people are running businesses from their homes.
If you work from home and have outgrown your current living situation, you may consider
buying a house that can better accommodate your business.
Take time to re-examine your business structure, research online degrees, hire a real estate
agent, and find a home that supports your business ventures! Taking these steps will help
ensure that you find and buy the ideal home for your growing business (and family)!
Article provided by Dawn Rodgers
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