Written by Tina Martin
If you run a business out of your home, you need a proper home office for everything from keeping your supplies organized to housing your workspace. However, if you think that your home just isn’t large enough for an office, what are your options? Whether you’re interested in buying your own home or you’re thinking about building an addition to your current property, these tips can help you design the ideal home office for your business.
Maybe you know that you’ll need to buy a new home for your office, or you’re thinking about investing in renovations. No matter what you decide, you’ll need to make some financial preparations to cover these large expenses before moving forward.
For instance, if you plan to buy a home or renovate your current home, it’s time to start saving for a down payment or contractor fees. To do so, the experts recommend creating a monthly savings goal, adding it to your budget as a recurring expense, and automating contributions to a designated savings account. Ideally, you should aim to spend less than 28 percent of your pre-tax income on your monthly mortgage payments.
Buying a Home
If your current home simply does not have enough room to accommodate your home office, it may be time to buy a new home. This is a major undertaking, so find a good estate agent to help see you through the process and help you find a home with enough room for your business and personal needs, like a backyard or a guest room.
In some cases, you may be able to save money by purchasing a home “as is,” which will free up additional funding for your business. However, if you choose to buy this type of home, realize that these homes often have major issues like structural problems, pest infestations, and leaky roofs.
Invest in Renovations
What if you’re happy with your home and have no intentions of moving, but you know that you don’t have any square footage to spare for a real home office? It may be time to hire qualified professionals to come up with a design plan and start renovating! If you want to build a full addition to your home for your office, you may need to make separate living arrangements while the contractors are at work, as living in a home undergoing construction can expose you to countless distractions.
Redesign a Room
Look around your home and consider which room you could redesign to create an office. Aim to find a space that you could easily soundproof. Your house might have more potential than you think! For instance, you could turn a guest bedroom that rarely gets used into an office, or even heat your garage, attic, or basement to use one of these rooms as office space. By purchasing used furniture and checking out thrift stores for decor, you can stay frugal as you decorate!
Designing your home office can be a fun project that helps you stay motivated. When you work from a cubicle in an office, you have limits when it comes to creativity and decor, but that’s not the case with your home office! By finding or creating a space with plenty of room for your business needs, you’ll find that it’s much easier to run your company.
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