Guest Writer: Amy Collett
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You’re preparing to launch a home-based business, but you’ve realized that your current property lacks the necessary space to accommodate your needs as an entrepreneur. You’re ready to start looking for a new house, and while you’re excited about this big step, you’re also nervous about navigating the home buying process and your business launch at the same time! With the help of an accomplished realtor like Jason Gelios, you can find a home that will allow you to thrive as a business owner. Here’s how to search for the perfect home, tackle your big move, and get your business off the ground simultaneously.
Finding the Right Home
If the home you’re living in now just doesn’t have the space and features you’ll need to run your business efficiently, you’ll want to identify your desired features and look for homes that have these amenities. Get an idea of exactly how much square footage you’ll need to accommodate your business, too! When you’re ready to start scheduling viewings, connect with a real estate agent who knows your local market. You may want to ask them if they have worked with small business owners previously.
You’ll also need to think about your budget. Remember, you’re also going to be spending some money to cover your business’s startup expenses in the coming months, so it’s important to factor in these costs when you figure out how much you can spend on a home. Talk to your agent about your budget and find out what you can expect to get within your price range.
Managing Insurance and Taxes
In addition to your monthly mortgage payments, you need to consider how much you’ll be responsible for paying towards homeowner’s insurance and property taxes. And remember, in order to qualify for a home loan, you’ll need to enroll in the right homeowner’s insurance coverage. Make sure to research different policies to choose coverage that will suit your needs.
When it comes to paying for these expenses, you’ll have a few options. You can pay for your tax loans and insurance coverage separately, or if you’d prefer, you can work with your lender to set up an escrow account which you can use to pay for both bills.
You’ve found a home that you can’t wait to move into, and you’re ready to start packing! Apartment Therapy states that if you’re short on time before moving because you’re juggling other responsibilities, hiring movers will ease your stress. You’ll want to hit the ground running to officially open your business, so budgeting for movers is definitely worth it. Place labels on every box, and try to keep all of your business supplies together so that you can start setting up your home office as soon as you move in.
Launching Your Business
You’ve arrived in your new home, and you’re finally in a position to open your business! First, you’ll want to organize your home office. Homes and Gardens recommends putting together your desk first and arranging artwork and decor around the space that makes you feel inspired. You’ll also want to ensure that the space is well lit, so you could install wall sconces, set up a desk lamp, or even hang a chandelier!
And now that you’re settled down, you can start networking to connect with other entrepreneurs in your area and online. Look up local business organizations to begin getting involved with the entrepreneurial community!
If your current home just isn’t the right fit for your business, it’s time to start your house hunting journey. With these tips, you don’t have to get overwhelmed by the process! Instead, you can tackle each task with the support of a reputable realtor and pull off a seamless business launch in your new home.
Looking for a home in Southeast Michigan where you can comfortably run your business? Turn to Realtor Jason Gelios for guidance! Call us at 586-419-2231 to get started.
Amy Collett is the creator of Bizwell.org, a website that helps professionals and entrepreneurs build and strengthen their personal brand. She is also the author of the upcoming book, You, Exemplified: The Role of Personal Branding in Your Professional Life. When she’s not busy with helping her clients she enjoys coaching her daughter’s soccer team and is training to become a yoga instructor.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the books 'Think like a REALTOR®' and 'Beating The Force Of Average', Creator of The AskJasonGelios Real Estate Show and Expert Media Contributor to media outlets across the country.