A great article I am featured in about whether you should pay off debt before buying that home.
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My expertise is featured in this great article about saving for a down payment on a home.
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I had the pleasure of being interviewed for a third time by Authority Magazine. The topic is Real Estate Flipping and how to build a career flipping homes.
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Catch my guest appearance on Australia's wildly popular news channel Ticker Live as I share success tips and motivation tidbits.
April 22nd 6:00pm (EST)
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An article by Guest Contributor Tina Martin
Photo By Mivoi Kuhar on Unsplash
The home office may be a great place to create and manage the family budget, pay household bills, place online orders, or keep the family calendar of appointments, but not every home office situation is ideally set up for full-time work productivity. Things can get even trickier if you anticipate in-person client visits. Having that home office entrance separate from the rest of the house typically projects an air of professionalism — and privacy — that many will appreciate. The dedicated, separate space also removes potential stickiness from your IRS home office
If you need ideas on how much to invest in your garage-to-home-office transformation to
maximize your home’s value, an experienced real estate agent like Jason Gelios can help.
Being more productive in an optimum home office could lead to a business expansion later, so you want to be poised to get the best value out of your existing home, whether it’s for resale or accessing a home equity line of credit for your growing home-based business.
Clean, codes, and comfort
Many garages do double-duty for their homeowners, housing not only vehicles but also yard
equipment, bicycles, and other seasonal items. Your first order of business will be to declutter
and find a new storage solution for what you wish to keep. Consider donating items still useable and in good shape or put on a garage (yard) sale. Be sure to check your municipal codes to see if you need a permit for the sale.
Speaking of codes, you’ll also want to ensure that your garage is in good condition and meets your local building codes. This includes any electrical wiring already installed. Your ordinances may require that you add windows or even that you replace your garage with other covered parking options.
While you’re assessing building codes and compliance, now is also a good time to think about your legal business structure, in addition to your physical one. Many small businesses opt to form a limited liability company or LLC. This popular structure grants you limited liability to protect your personal assets and tax advantages — all while leaving you with less paperwork and greater flexibility than other corporations. There is no uniformity among states as to business formation regulations, so you’ll want to verify the formation process. You can have an attorney do the work for you or you can form your own LLC Michigan online by using a formation service.
If your garage space needs work to get it up to code or you’d like to add on more space, consult with design and build professionals who can help you gauge what you need against what would be ideal. For example, it may not seem like a big deal now to not have an adjacent bathroom, but you may regret not having it later if you host clients. Add a small kitchenette and the renovated space could be billed as a charming guest space if you sell your home later. Be sure to also insulate and install whatever heating and cooling options work best for your climate for optimum year-round comfort.
Decorate, then deal
Once your space is ready, it’s time to add the color, décor, and details that make it your own
and reflect your business’s brand and personality. Peruse online marketplaces and secondhand stores for good deals on quality “new-to-you” office furniture — you will likely find décor that’s functional and tasteful but that doesn’t break the bank. If your space allows, consider adding a small sofa for guests or even for you to take a reading or relaxing break during the workday. There are many highs and lows to being an entrepreneur, and you’ll likely experience several from each end of the spectrum. It helps to have a comfortable space to help you weather the challenges and savor the victories.
Now you’re ready to move into your newly transformed home office and make dynamic business deals! Get the most out of the space as much — and for as long — as you can by taking your business as far as it can go in that space. And remember: When you’re ready to expand, connect with Jason Gelios for your refinance or home selling options to help you continue on your entrepreneurial journey.
Tina Martin is the writer behind Ideaspired.com. Click here to reach out to her.
Spring is here and many homeowners are looking at financing for their home improvement projects. In this article I share my expertise on the different options available.
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I had the pleasure of providing expertise for this great article on saving money for a home.
Houses are expensive, and saving money to buy a house can take years. In fact, the average sales price of a new home was $346,400 in January 2021, according to U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau, and the average sales price was $408,800.
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By June Duncan (riseupforcaregivers.org//)
Photo courtesy of Pexels
Senior caregivers have had a lot on their plates in the past year as the pandemic put a strain on health resources and challenged them in new ways. While things are slowly getting better in many states, there are still several roadblocks for caregivers who need to make long-term care decisions for their loved ones, including an evolving housing market. If you’re thinking of selling your loved one’s home to help cover the cost of a move to assisted living, start by gathering resources and tips from Jason Gelios at It’s All About Real Estate. Read on to start planning for your loved one’s future.
Do a little research.
When it comes to selling a home during the pandemic, there are several factors to consider. Do some research to find out more about the trends in your area and to get a sense of what buyers are looking for. The average sale price in Detroit is about $65,000, and homes typically stay on the market for about 39 days. Knowing what to expect will help you create a solid plan with your loved one that fits their needs, especially if they need to make a move to assisted living sooner rather than later. Keep in mind that the pandemic has changed the way real estate business is done, so you may need to be available and find tools for virtual home tours, video calls with an agent, and phone calls with prospective buyers. Open houses are still an option with safety precautions — follow local guidelines for your state.
Decide on changes.
When preparing a home to sell, there are several considerations to make that include making updates and other changes that can help bump up the price. If your loved one is in decline and needs assistance now, you might be dealing with a time crunch or there may not be enough funds to cover the cost of several big changes to the house. Make a list of repairs and tackle those first, then take a look at the bigger picture. In some cases, you may be able to utilize a fresh coat of paint and some decluttering to prep the house for the market. If your loved one belongs to a church or senior community that offers assistance with cleaning or home maintenance, reach out to see if they can be of help.
Keep in mind that downsizing can be difficult for many seniors as they begin the challenging process of going through their belongings. Offering emotional support can go a long way toward helping your loved one through this time.
Gather any necessary paperwork.
It’s a good idea to gather up all-important paperwork belonging to your senior loved one, including home documents, proof of insurance or vaccinations, prescriptions and other healthcare paperwork, and their will or other estate planning documents. These will help you make informed decisions when it’s time to put the house on the market or look for an assisted living facility. If your loved one has long-term care insurance, you’ll need to know exactly what’s covered and for how long.
Find the right facility.
If your loved one requires specialized care, keep in mind that the pandemic has created many changes in the world of assisted living facilities. Some may not be accepting new patients at this time, while others have strict rules about the services they provide and how family members or caregivers can be involved. Learn all you can about a prospective facility and get to know more about your loved one’s rights when they’re in long-term care. Not only will this help you make an informed decision, it will give you peace of mind.
Helping your senior loved one make long-term decisions about their future can be stressful, but a solid plan will allow you to focus on the priorities so you can both get through the process as smoothly as possible.
Have a question for Jason Gelios at It’s All About Real Estate? Call 586.419.2231 or get in touch online.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the book Think like a REALTOR®, Creator of The AskJasonGelios Real Estate Show and an Expert Media Contributor.