This guest blog was written by Suzie Wilson of HappierHome.net and author of The Ultimate Guide to Prepping Your Home for an Open House
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If you’re an entrepreneur, odds are that you’re working from home. According to Small Biz Trends, 69 percent of American entrepreneurs start their business from home. While there’s nothing wrong with this arrangement, you do want to make sure you have a dedicated space away from household distractions to focus on your work.
If your current house is too small to allow for a separate home office, it’s time to upgrade. A skilled realtor like Diane Waschenko can help you find the right property in the right area. Working with a realtor will streamline the process, taking away some of the stress of house-hunting and giving you more time to focus on your business.
The thought of moving homes while you’re in the midst of getting a company off the ground can be daunting. It doesn’t have to be. The below guide breaks down the process for you.
Diane Waschenko offers unmatched customer service and can handle all your real estate needs whether you’re a first-time buyer or seasoned investor! Call (914) 447-5847 or email diane.waschenko@cbrealty.com.
Find the perfect property to accommodate your new business
Before you start scouring the real estate market, make a list of what you’re looking for in a property. Consider square footage, layout, and design. For example, if you are going to have a home office, should it have a separate entrance to accommodate clients? Location is also a factor. You want to be situated somewhere clients or employees can easily reach.
Finally, you have to consider the price. Get an idea of the housing market in different areas using online tools. With this information, you can start figuring out your budget. To secure a favorable interest rate and avoid the expense of mortgage insurance, you’ll want to consider a 20 percent down payment. You can use a loan calculator to determine how large of a mortgage you’ll need.
Plan and organize your move in advance
Advanced planning is essential if you are moving while in the early days of company formation. Declutter before you move, paring down unneeded items like clothing you no longer wear and doubles of kitchen supplies. You may even be able to sell items that are still serviceable, like unused electronics, and use the extra cash to help fund your startup costs.
Start packing up your home a few weeks before the moving date, going room by room for maximum efficiency. Set aside one box of essential work tools, like your laptop, documents, and printer, that you’ll need access to immediately in the new space. This ensures that you don’t miss a beat and can get to work quickly after the move. Finally, enlist the services of a professional moving company to alleviate stress and ensure a streamlined transition.
Set up your startup in a fitting office space
As you settle into your new house, you may want to buy office furniture or make small renovations to create your dream home office. Before you take these steps, establish your startup as a limited liability company. An LLC gives you certain tax advantages and will make it easier to write off expenses like office equipment. The Internal Revenue Service, IRS, explains what you can deduct.
Beware that different states have different regulations and requirements surrounding LLC formation. Take the time to research your local laws. You don’t have to pay an expensive lawyer to establish an LLC, however. Check out reliable business formation services to help you get your Florida LLC off the ground.
Moving while you’re starting a business does mean more work, but it will be worth it in the long run. Having a house that’s large enough to accommodate a dedicated workspace will improve focus and productivity, and help ensure your success as an entrepreneur.
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