Owning a home-based business can be a luxury in many ways, but also presents a challenge if you don’t have a comfortable workspace. Productivity can take a hit when distractions are ever-present, so working from your kitchen table while your partner makes their lunch can make it very difficult to focus. To thrive in your business, you should buy, build, or design the perfect space for your work.
Building your dream office
If you’re relatively new as a business owner, there may have been more pressing elements to consider before office design. However, once you’re established, you can focus on improving your work environment. One great way to create your dream office is by building a home that can accommodate your home-based business.
Building a home is a big commitment, but by starting from scratch, you can create an office space that meets all of your needs. If you see clients as part of your business, for instance, you can build an office that has a separate entrance for visitors. Or, if you need a workshop for your company, you can build one to perfectly fit your business requirements.
Finding a new home to meet your needs
Building from scratch can be a long process with volatility in prices, so if you need something in the immediate future, consider buying a home that meets your business needs.
When you’re looking for a new home, be sure you know what elements are important for your business. For example, Entrepreneur notes business owners who stock inventory will need ample storage space, Or, if you offer therapy out of your home, a separate entrance is important to maintain privacy for both you and your clients. At the very least, you’ll need a room to yourself for your work, whether it’s a bedroom or a converted attic or basement.
Financing your investment
If buying a new home is the best option, be sure to follow a few crucial steps: determine what you can afford, get pre-approved for a loan, and secure a great real estate agent like Gino Tozzi from Johnstone & Johnstone Realtors.
To determine what you can afford, Money recommends taking some time to formulate a realistic budget beforehand, and calculate how much you can pay for the downpayment and monthly mortgage. You can work with a mortgage counselor to help determine some of these numbers, which will help you understand the right price range for your search.
You should also get pre-approved for a loan before you get serious about any potential homes. Find a great real estate agent who can help find houses that meet your criteria, and start your search online—you can tour homes without ever stepping foot inside thanks to virtual tools such as 3D walkthroughs and video chat tours.
Designing your office
Once you have an office space established, then the fun begins: designing your office. First, determine what elements are crucial for you to comfortably work. For many, this will include a desk, a comfortable chair, adequate lighting, and the right technology. A simple laptop may be sufficient, but if you have to print out contracts or other documents regularly, an office printer will be a great addition.
Regardless of where your office is—in the attic, basement, or down the hall from your bedroom—you’ll want a door that can close to the rest of the house. This is especially helpful if you have family members working or learning from home. Having a quiet, private space will do wonders for your productivity.
Keep in mind that if your business is struggling during the pandemic and you’re having difficulties paying for expenses (including home office costs), there is funding help available. For instance, the federal government is currently offering SBA Express Bridge Loans and traditional SBA loans.
Regardless of the type of business you run, having a dedicated workspace is vital. You have a few options, including buying or building a new home. However, it might be possible to reclaim an unused bedroom or convert an attic or basement. Be sure to prioritize this part of your business, as it will help you work more efficiently and with more focus.
For professional realty service that will exceed your expectations, schedule a consultation with Gino Tozzi today by calling 313-587-6602!