Today I want to introduce you to my friend, Suzie Wilson over at Happier Home. Suzie helps people organize and style their homes so they’re not only beautiful, but offer a relaxing, stress-free environment to every member of the family. She is going to be talking about how to move into a new home while starting a home-based business. Take it away, Suzie.
If you’re preparing to start a home-based business, you may come to find that your current living space won’t accommodate your personal and professional needs — especially if you’ll be hiring a team to work out of your home or meeting with clients, patients, and other guests on a regular basis. Or, you may live in a city or county where home-based businesses simply aren’t permitted — and your only option is to relocate.
Whatever the case, you’ll need to buy a new home that’s suitable for living and doing business — while simultaneously getting your home-based business up and running. These tips will tell you everything you need to know about planning a successful business launch in the midst of your move into a new home.
Form a Limited Liability Company
As you prepare to buy a new home that accommodates your personal and professional needs, you’ll first need to choose the right legal structure for your home-based business — and complete the official business formation process. Examples of common business structures include limited liability companies (LLCs), corporations, partnerships, and sole proprietorships.
With an LLC, for instance, you’ll protect yourself from personal liability in the event of a lawsuit, be taxed as a pass-through entity, and you won’t need to worry about electing a board of directors (like you would for a corporation). And if you wish to form a Michigan LLC, you’ll save money on legal fees if you use an online formation service or file the paperwork yourself. However, LLC rules vary by state, so be sure to familiarize yourself with these regulations before moving forward.
Moving Considerations for LLCs
If you’ll be structuring your home-based business as a limited liability company, you may wish to form your LLC before purchasing your new home. By doing so, you could purchase your new home under your LLC — which will be especially beneficial if you’ll be welcoming employees, clients, or other guests into your home.
If you won’t be using your LLC to buy a new house for living and doing business, you may wish to form your limited liability company after moving into your new home. Otherwise, you’ll need to change your LLC address with your state of residence, tax authorities, and state or local licensing agencies (if applicable) after you’ve moved into your new home and changed your business address.
List Your Home and Location Must-Haves
Once you’ve chosen a legal structure for your home-based business, you’ll need to make a list of the different things you’re looking for in a new home. These include:
- Space and square footage. How much space will you need in order to work and live in the same place? How large should your home office be? Do you need space for employee workstations
- Location. What are the zoning laws for home businesses in your preferred cities and counties? Will you need to apply for a zoning variance or permit?
Parking. How many parking spaces will your home-based business require? Will street parking suffice? - Entrances. If you’ll be meeting with guests or hiring onsite employees, will you need a separate home entrance or private waiting room for these visitors?
Look for a Real Estate Agent and Mortgage Lender
Once you know what you’re looking for in a new home, your next steps include hiring an experienced real estate agent and mortgage lender (if you’ll be financing your home purchase). The Dolinski Group can help you to find available properties that suit your personal and professional needs.
Moreover, an experienced mortgage lender can introduce you to your financing options. Obtaining a mortgage while working for yourself is slightly more difficult than applying as an employee of a company, but it can be done if you have the right team of professionals by your side.
Hire Professional Movers
Once you’ve secured a mortgage and found the perfect home for living and running a business, your next step will be to hire professional movers. When you’re busy buying a home and launching a business, professional movers can take some of the weight off your shoulders — and help with everything from packing and hauling your belongings to unpacking everything in your new home. Money Under 30 explains how to hire top-rated movers, land the best rates, save on packing supplies, and plan a hassle-free moving day.
Design Your Office Space
After you’ve moved into your new house, you’ll need to design a productive workspace for your home-based business. The specific look and feel of your office will depend on the type of business you’re running, but most home-based based businesses need:
- To meet IRS requirements if you’ll be claiming the home office tax deduction.
- Ergonomic chairs, keyboards, and mice for comfort and productivity.
- One or more desks and tables.
- Multiple lighting sources (including ambient, task, and natural lighting)
- Privacy, especially if you’ll be meeting with clients, patients, or storing sensitive information.
- Digital security (e.g. antivirus software and firewalls).
In some cases, you may choose to soundproof the walls and doors in your home office — especially if you live in a noisy area or have a family at home with you during the workday. But as an alternative, you could wear noise-canceling headphones, add thick rugs to your office flooring, and opt for upholstered office furniture.
If you need help creating your new home office space, try using an online tool such as Sweet Home 3D, Design A Room, or Floorplanner. You could also use IKEA’s home office planner, and purchase a few home office essentials while you’re at it. IKEA sells everything from office desks and chairs to storage cabinets, bookshelves, blinds, and lamps.
Succeed as a Home-Based Business Owner
Now that you’re officially moved into your new house, it’s time to get your business off the ground and enjoy the perks of running your own home-based business! After all the stress of house hunting, packing, moving, unpacking, and launching your business, it’s finally your
chance to look for work opportunities, land new clients, and enjoy the many advantages of working for yourself. Plus, you’ll have a brand new home to call your own!
Are you in the market for a new home? Contact the real estate experts at the Dolinski Group to begin your hunt for the perfect place to live! 517-244-6044
