Home Office 2.0: How to Upsize Your Home Work Space Written by Ed Carter of ablefutures.org
Whether you’re running a small or home-based business, having adequate office space is an important element of creating a professional image and staying focused and organized. If your current space is simply too small and you’re looking to relocate or upsize your home in the Tucson area, Take It to the Edge Marketing offers the following guidance.
Benefits of a Home Office
A home office is an asset, both for home-based entrepreneurs and for small business owners who work from both home and office. A designated workspace can potentially be deducted as a business expense when you file your taxes. Other benefits can be realized by establishing your business as a limited liability company or LLC. You’ll have an easier time filing taxes, be protected from some types of liability, and have more flexibility. You can file the paperwork yourself or hire an attorney, or you can save both time and money by using a formation services business to do the work on your behalf. Different states have different regulations for forming an LLC, so check them in advance.
Design Your Home Office
If you have an extra bedroom or den you can convert into a home office space, you’re in luck. Claiming your space is the first step in establishing work-home boundaries. Make sure it’s for work use only, even if that means moving out the daybed or the home exercise equipment. According to Homes and Gardens, your space should be inviting, as well as designed for productivity. Outfit your space just as you would an office in any other professional setting, with essentials like a desk and task chair, computer, printer, scanner, bookshelves, and file cabinets. If you have room, a small work or conference table can also be an asset. Convert closet space into a storage area for work supplies, and consider a white board for project tracking.
Renovate Your Home
If you don’t have any space in your home that can be easily converted into an office, consider renovating or building onto your home. This approach allows you to design an office that incorporates all of your needs and preferences. This could include built-in cabinetry or extra insulation to support a quiet work environment. You might situate your workspace outside of family traffic zones for privacy, and if you see clients or customers at home, think about adding a private entrance. According to Consumer Affairs, it’s wise to get estimates from qualified contractors and ask for all quotes in writing.
Move to a New Home
If your house is too small to accommodate your growing business, consider upsizing to a larger home. You may be able to find a house that has a beautifully appointed office, a detached garage or casita, or an extra-large bedroom or basement area where you have plenty of options for establishing office space. Connect with a reputable lender or real estate professional who can help you examine your finances, check your credit, and help you start searching for a home that meets all of your needs.
It’s tempting to buy a house “as-is,” especially in a competitive market with low inventory. It’s an approach that has the potential to save you money and reduce your competition, but it’s not without a potential downside. When you accept a house in this condition, the owner is not responsible for making any repairs and you could inherit problems like mold, insect infestation, a leaky roof, or damage to major systems. Hire your own inspector to check things out and look for red flags so you know what you’re getting yourself into.
Establishing a home office is a great way to save money, reduce commuting fees, and have greater work-life balance. Maintaining a home office can also help you stay focused and organized.
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