Best Approaches To Buying A Larger Home For Your Growing Business

Dated: May 9 2022

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Source - Pexels

Best Approaches To Buying A Larger Home For Your Growing Business
Article by Christopher Haymon for Bates Realty Blog

These days, more people than ever are choosing to forgo the office and instead work from home. It is a chance to get the same work done while avoiding the costly commute and spending more time with our family in the process. If your business is growing, then your office should too, and that may mean looking for a new home that provides the features you need. Here are some tips on how to make the buying process easier and what to look for in your new house/workspace.

 

Finding a Starting Point

Before you can just move into a new home, you need to take a moment to make a list of expectations and start off on the right foot. You need to look at houses in the area and make a list of how much square feet you need, how many bedrooms, and have a clear understanding of where you will put your new office.

You’ll also want to look at your budget and consider houses that you can afford with the current income your business brings in on a monthly basis. If you find a neighborhood that you like, take the time to look at the median home prices in the area and determine if it is something you can afford. If not, you may have to look elsewhere.

 

Moving Your Business

Finding a new home is just one part of this process—you’ll need to have a task-oriented plan for moving your business as well. The goal is to minimize downtime as much as possible. Find reliable movers, notify clients and suppliers about your move, and start updating your business cards and documents with your new address.

 

Location Is Everything

While you will want to find a neighborhood that is nice and quiet, you will want to make further considerations about the location of your home so it also makes sense for your company. For instance, if you need very specific supplies for your business, then you may want to live in the same city as the business from which you typically get your supplies.

Additionally, think about the demographic that your business serves and determine whether you should find a house close to your customer base. Will you possibly open a storefront one day? In that case, you will want to scope out potential locations and buy a house nearby so your commute isn’t too long.

Once you’ve targeted a neighborhood and figured out how much you’d like to spend on a home, it’s time to connect with an experienced and knowledgeable real estate professional from Bates Realty.

 

A Home That Serves Your Purposes

Once you have found the perfect neighborhood, you will want to inspect the homes on your shortlist to ensure that they have the properties that your perfect work environment requires. For instance, you will want to find a home office that will provide plenty of natural light; not only will using the light from outside lower your electric bills, but natural light can also make you more productive as well.

If you use several computers or other pieces of equipment to do your job, then you will want to find a home that is equipped to handle your needs. In some cases, that may mean requiring more power outlets, and although a certified electrician can set this up with a little bit of time, it may be easier to find a house that has the electrical components that you need already installed. You also might want to check what internet options are available in your desired location. Slower speeds can make it challenging to maintain productivity, much less conduct effective Zoom meetings.

 

In the end, the decision to buy a larger house to support your home business is not one to take lightly. Look at basics like minimum square footage and number of rooms, and examine data to  help you make a choice that will ultimately benefit your bottom line. With the right perspective and information, you’ll be able to move your growing business and see success.

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Kay Bates

Specialties: Buyer's Agent, Listing Agent, Short-Sale, Property Management Kay Bates has worked in the Real Estate industry since 1992. Her 20+ years of experience in commercial and residential Real E....

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