by Tina Martin
If you run a home-based business, you’ll need a designated office space that separates your work from the rest of your home and allows you to achieve a healthy work-life balance. However, finding the right space for a home-based business isn’t always as simple as converting a spare bedroom into an office. Depending on your business needs, you may wish to add to your home if you need more space — or buy a new house altogether. But with the following tips, you can decide whether designing, building, or buying a space for your home-based business is the best choice for you. Read on to get started!
Designing an Office Space
If you have a spare bedroom in your home, you could easily, quickly, and affordably turn the area into a workspace for your home-based business. And while a spare room is ideal if you want privacy or need a door that can be closed, other possible locations for home offices include unused nooks, corners, wall spaces, or even walk-in closets.
To help you create an office for your home-based business needs, design a workspace and purchase the right type of desk for your office layout. Several types of desks to consider include U or L-shaped desks, standing desks, and desks with built-in hutches or shelves. However, your desk isn’t the only thing you’ll need to consider when running a business from home — especially if you’ll be meeting with clients. If you’ll need to reduce unwanted noise in your home office, for instance, you could soundproof the space with rugs, added drywall, bookcases, wall hangings, and other sound-absorbing techniques. You’ll also want to keep your tech and digital security top of mind, especially if you’re going to have private information about your clients. Keep your defenses strong with antivirus software, a VPN, and by staying alert to common scams.
Building an Office Addition
When you’re running a home-based business, an office addition could be the right choice for you if you need a separate entrance to your home, a waiting area for your guests, or more space for your personal and professional needs. According to The Spruce, there are four primary home additions to consider — including bump-outs, conventional additions, garage conversions, and sunrooms. However, the best type of addition for your home will depend on your budget, business needs, and whether you have the time and patience to undergo a full renovation.
Buying a New Home
If building an office addition or working with space you already have simply isn’t feasible, you may wish to buy a larger home that meets your personal and professional needs. However, purchasing a home takes time and financial security — and there are some steps you’ll need to take to prepare for the homebuying process.
To prepare to buy a new house, you’ll need to work on improving your credit score and saving for a down payment on your purchase. Dave Ramsey recommends putting at least 10 percent down — but 20 percent is ideal if you’re hoping to reduce the amount of your monthly mortgage payment.
Once you’re ready to buy a home, it’s important to think about the different things you’ll need to comfortably work and live in your new space. You’ll need to select the right community for your home-based business, think about how much square footage you’ll need, and take several other factors into consideration — such as guest parking and home layout. Now is also the time to form your Kentucky LLC if you haven’t already done so. This will be especially important when seeking permits and understanding zoning for a home-based business. Fortunately, this is a simple process that can easily be handled online.
The Bottom Line
If you run a home-based business, you’ll need to decide whether you’re going to convert a spare room into an office, build an addition, or buy a new home altogether. However, the most important thing is that you have a designated space to work in — as this will help to reduce distractions and boost productivity while working from home.