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After deciding to start a home-based business, some soon-to-be entrepreneurs discover that their current living situation does not accommodate their needs. Whether searching for additional room, fewer distractions, or specific features to meet various requirements, moving (rather than renting a separate space) can be a wise, cost-saving solution.
To ensure a successful move and launch of your business, it is essential to analyze all of your options carefully. The Shift Life Coach shares these tips for making all of the right decisions during this exciting new chapter of your life and career.
Create a list of wants and needs for your new home
The most critical part of this entire process is establishing your wants and needs for your new home. Buying a new home and moving is a significant commitment — especially when your residence will become the headquarters of your brand new business.
To avoid overlooking any crucial requirements, start by creating a list of all of your needs. It should include all of the items/features that are an absolute must, such as a dedicated hand washing sink, a spacious office, storage space for inventory, or a secondary kitchen. Once you’ve finished this list, write a list of things you would enjoy having but not your business and life’s functioning requirements.
Next, use these lists when browsing available homes in your chosen neighborhood(s). As you formally start the home buying process, establish your budget, compare home prices, get in touch with your preferred realtor, and begin exploring mortgage loan options. These essential steps will all need to be completed before deciding on a new property.
Check all HOA rules in the neighborhoods you’re considering
Not all neighborhoods allow you to run a business from your home. Before signing anything, carefully review homeowner’s association (HOA) regulations. If you have any doubts or questions, get them answered by someone who is part of the HOA. Taking this extra precaution can prevent fines or the forced closure of your home-based business.
Consider a custom build if available homes don’t meet your needs
Occasionally, some entrepreneurs find that their area’s available homes do not fully meet their new business’s needs. If this ends up being true for you, consider a custom build. By enlisting the help of a trusted home contractor, you can build a new home that meets your exact specifications. This will ultimately lead to having both an incredible place to live and run your business.
If you choose this path, it is wise to revisit the lists of wants and needs you initially created. Since you’ll be building a custom house, you may want to add a few extra features and conveniences that will make it easier to run your business.
Ensure that the move timeline is compatible with your business launch
Whether you decide to relocate to a nearby property or build a home from scratch, you should be conscious of the estimated timeline for your move. If you’ve set a launch date for your business in May, but your home won’t be ready until July, this is something that will be incredibly important to know.
To avoid any timing-related issues, strive for clear communication. In addition to being clear on your needs and expectations, be proactive in finding out when everything will be ready. Also, since life rarely goes according to plan, always add a buffer to every timeline.
While moving to accommodate your new home-based business, there are other things you can do to make the entire process a success. For example, strive to stay as organized as possible, especially when transferring items from your current home to your new home. With advanced planning, you’ll significantly increase your chances of having a smooth, stress-free move and business launch.
The Shift Life Coach offers personal coaching for anyone looking to maximize their potential, whether at work, in a relationship, with their finances, stress, and more. Reach out today for an Introductory Session.