Are you starting a business from home? Home-based businesses are a savvy way for first-time entrepreneurs to break into small business ownership. However, not every home is built for business. In fact, the need for home offices has been a major impetus for homebuyers in 2020.
Before contacting the Bonebrake Team to upsize your home for business, consider how you can do more with your existing space. This guide will help you decide if your house is fit for business or if you need to buy, build, or remodel to meet your home business needs.
What does a home business office need?
A desk in the living room may suffice for the occasional telecommuter, but real businesses need real offices. That includes a door, a bathroom, and a private entrance. Home offices should also have plenty of electrical connections for office equipment, ample storage, and good lighting. You may also need space for employees.
How to maximize space in your home office
That’s a tall order for a home office, but you can accomplish more than you think in a small space. If you have a spare bedroom or flex room to convert into a home office, use these ideas to accomplish more with less:
● Install folding wall desks for employee workspaces that fold away when not in use. Not only do folding desks save space, they’re budget-friendly too. ● No chair? No problem. An office stool like the Autonomous ErgoStoolsupports good posture and is small enough to stow away. ● Swap bulky PC computers for lightweight laptops. Today’s laptops do more than ever, including protecting your data with biometric readers and privacy screens. They also cost less than you think if you take the time to look for sales. ● Take advantage of vertical space with modular shelving, a versatile alternative to built-in cabinets. With endless configurations, you can customize modular shelving to any space and grow it alongside your business. ● Don’t forget the file cabinet! A wooden lateral file cabinet or file ottoman doubles as a piece of furniture for functional storage that also looks good.
A spare room is the obvious pick for a home office, but what if your spare room is too small or out of the way? Here are six options for home office placement you might not have considered: ● Attic or dormer. ● Loft. ● Finished basement. ● Converted garage. ● Bonus room over the garage. ● Shed or outbuilding.
Is remodeling worth the cost?
Converting an unfinished space or building an addition provides the space your home business needs, but at what cost? Building an addition costs anywhere from $10,000 to over $50,000, depending on whether you’re finishing an existing space, expanding up or out, or building a new structure.
Before undertaking a major remodel, talk to your realtor about the returns you can expect from your investment. Certain additions may add more value to your home than others.
Keep in mind that home office improvements are tax-deductible. You can claim the home office tax deduction even if you haven’t formally registered as a business entity as long as your office meets the criteria. However, it is worthwhile to register your business as an Oregon LLC to protect personal assets like your home.
When buying is a better choice
For many home business owners, buying a new home is more cost-effective than remodeling. You’ll also save time buying a house that already meets your needs. Your agent can help you decide if it’s worth remodeling your current home or if moving will be more cost-effective in the long run.
Before selling, prepare your house for a quick sale and identify your must-have features in a new home. Every home business is different. Whether you need a professional office, a workshop for crafting cottage goods, or space for inventory storage, finding your ideal home starts with defining it.
Are you planning to upsize your house for a home-based business? Before investing in your home, connect with the Bonebrake Team to learn how you can get the most for your money. Whether that’s remodeling or relocating, the Bonebrake Team can help you make the right choice for your home and business.
Tina Martin stays busy as a life coach and works hard to help herself and her clients achieve a healthy work-life balance. She is also working on her first book, Ideaspired: Put Your Ideas, Your Inspiration, and Yourself First to Make Your Dreams Come True.
Published on December 9, 2020- KeyToOregon.com/GuestBlogPost
Smart Budget-Minded Tips for Selling Your Home Quickly Guest Blog Post by Suzie Wilson
Are you getting ready to put your house on the market? If so, now is the time to make sure you fully understand the best ways to make your home move as quickly as possible. The faster you can manage to secure a buyer, the more likely you are to get a great price. As a homestays on the market for longer, the odds increase that you’ll need to reduce the price. It’s also harder to get bites; buyers see the long timestamp as an indicator that there’s something wrong.
That’s why it’s so important to make sure you start off on the right foot when it comes to selling your home. There are several things you can do to ensure that your house sells quickly. Here’s a look at a few of the best techniques sellers can use to secure a fast transaction.
When it comes down to it, the buyer’s first impression of your property is going to make a huge difference. People use that first look to set the tone for viewings; if it’s lackluster, the property will have to overcome it, making it a harder sell. That’s why staging is so important.
Your goals with staging boil down to depersonalization. You want the space to look livable, but not necessarily lived in. This means taking down personal photos and removing especially stylized décor. You can check out stores like Walmart to find sales, discounts (don’t hesitate to shop the refurbished or clearance sections), and cashback deals on affordable decorations that will suit nearly anyone’s tastes. This allows buyers to imagine themselves in the home and project their lives into the space, making them more likely to buy.
It’s also important to make sure it’s clean and decluttered. Before you have viewings or get photos taken for the listing, pack or store away any items you don’t actually use or need. Then, do a thorough deep cleaning, or consider hiring a cleaning service to knock the job out for you. This will ensure that your house looks inviting and appealing to potential buyers.
Get the Right Help
If you’re not already pretty familiar with the home-selling process, it’s best to have a real estate agent on your side to help you sell. Access to a network of interested buyers alone is an invaluable aspect of the relationship you develop with your agent. Moreover, they’ll be able to give you informed insight as to what kind of sales price you can justify, what the most appealing parts of your property are, and when will be the best time to put your home on the market. These will all ensure that you save — and make — money in the process of your sale.
Talk to friends and family to get recommendations for trusted real estate agents, and interview a couple before you choose. You should value someone with a long, proven history of sales in your area. You also want to make sure that your personalities click; you don’t need to be best friends, but as you’ll work with your agent a lot, it’s best that you get along.
Make Profitable Upgrades
There are a number of little projects you can do around your house that won’t cost much to do but may entice buyers into making an offer. For example, if you have old curtain rods, you can upgrade them to a newer, more aesthetically pleasing model. You can do the same with any hardware in the home, such as doorknobs and drawer pulls.
However, be wary of renovations that don’t provide returns on investment. New carpeting, for example, doesn’t usually pay off. It’s pricey to do, and you never know if buyers will actually want carpet. Research any upgrades before you make them ensure they’re worth the cost.
By putting thought into the process of putting your house on the market, you can ensure you get the most out of your property. Focus on staging your home to appeal to buyers and making the right moves for your market, and you’ll find the right match in no time.
4 Practical Tips for Finding an Accessible Home Guest Blog Post by Patrick Young, Able-USA
House hunting can be a challenge for anyone. However, when you have a disability, the task of finding a place that meets your needs can feel overwhelming. One reason for this is because less than 5 percent of homes in the United States qualify as accessible. Although it may not be an easy process, knowing what to look for and doing some planning can help you along the way. Here are four tips for finding the perfect accessible home.
Look at Structural Features
First of all, you will need to consider the size of your future home. Particularly if you use a wheelchair or other kind of mobility aid, you will want plenty of floor space to maneuver around your home safely and comfortably. You will also want to think about the layout of the home, especially the stairs. Almost all accessible homes are one-story with zero-step entrances. Furthermore, doorways and passageways should be wide enough for mobility aids. These can be widened after you purchase the home, but it can be expensive to do so. Knowing to look for these features will save you valuable time on your home search.
Assess the Location
Along with the interior of your home, you want to make sure the general location serves you well. For instance, are essential establishments such as markets and pharmacies nearby? Are they close enough to deliver? If you like to visit the park, is there one relatively close so you can access it regularly? How heavy is the traffic on the roads and sidewalks, and how many ramps are on the sidewalks? You may also want to know about the nearest public transportation stops. Do This Before Moving In
Once you find your perfect home, there are some tasks to tackle before moving in. Securing your home with new locks comes first. You can compare qualified locksmiths in your area. Also, you’ll need to change your address. Start by changing your address on the USPS website so that you don’t miss any important mail, which can be done in a few minutes. Then, you can make updates with your subscriptions and credit cards at your own pace. Here are a few other tasks to do before moving in:
● Replace the batteries in your smoke/CO detectors and make sure they function correctly.
Hopefully, you will find a home that makes this part a little easier and less expensive to manage. Nonetheless, even if you find an “accessible” home, you will likely need to make some modifications to fit your specific needs. For instance, you want to make sure your entranceway has a zero-step entrance, as well as threshold ramps inside the home. If your doorways are not wide enough to accommodate a mobility aid (e.g., wheelchair, walker), you will either need to have them widened or install expandable door hinges.
Also, you will want to make sure your bathroom is accessible and safe. This may not require a full remodel, which can cost $25,000 or more. You can make your bathroom accessible by adding items like grab bars (inexpensive models are available for under $13) in bathing areas and by the toilet and lowering your sink and vanity/medicine cabinet. Moreover, think about daily activities in the kitchen, which may require you to lower the cabinets, as well as certain appliances such as the microwave.
Finding an accessible home that you like is not impossible. Be sure to consider structural features in each home that will allow for easier and less expensive modifications to be made. Make sure the location of your home provides safe and convenient access to important establishments. Finally, make a checklist of tasks to accomplish before moving in, and make any modifications that will make your everyday living experience safer and more comfortable.