Business is great! But you’re slowly finding yourself running out of workspace for your home-based business. This means that in order to keep growing your business, you’re going to need to grow home. Stressed about what to do next?
You really shouldn’t be! Because with the following guide from Hagerstown Commercial Realty, you can take the headache and hassle out of finding the home office space you need to thrive.
Making Space That Works for You
We should start by talking about your options. If you are operating a home-based business, you could take one of the following steps to carve out more space:
- Get creative with the space that you have.
- Add on some additional square footage.
- Buy a new home with more room to grow.
- Rent office space in a commercial building.
As you think of ways to solve your space problem, also think about how to set up your business for success. For example, filing the paperwork to form an LLC can provide legal and financial protection for you and your business. You can check the LLC rules and requirements in your state, but filing the needed forms online will negate the need for costly legal fees.
Now that you know your options, it’s like one or two of these choices may sound like a perfect fit for your situation. Let’s go over a few in more detail. Namely, finding space in your home for your small home-based business to grow.
Buying a Larger Home
We’ll begin with buying a new home. If you anticipate the need for even more room as your business continues to prosper, this may be the most feasible option. You can look for a home that has an extra room or two, but you will need to take care of some financial work first. Get copies of your credit report and go over them. Then, use your score to determine how much to spend on a new home and to get prequalified for a mortgage.
Once you have your finances squared away, start looking for a real estate agent. If you are looking in Hagerstown and the surrounding areas, know that Hagerstown Commercial Realty also offers resources to help you find a perfect agent and your perfect home. Roberto Gonzalez can also assist you with finding a multifamily home or commercial property if either seems like a better option.
Planning for a Home Addition
If you don’t want to buy a new home, your next best choice may be to add some room to your current home. You’ll need to sit down and come up with a project budget and scope for your addition, then you’ll likely need to look for funding and for a licensed general contractor.
Another great way to add space in your current home is to convert an underutilized room, like a garage, attic or basement into additional living space. This sort of project tends to be a bit friendlier to your budget, so long as you take the necessary steps to keep costs low.
Finding Space Without an Addition
Honestly, it may not be the right time to either buy a bigger home or pay for a costly remodeling project. When this is the case, you don’t have to give up on your dreams of creating more workspace! You just need to get a bit more creative with the area you already have.
One fun and clever solution is to transform a spare closet into a small but productive home office. If you just need a little more space for a laptop, some shelves and a chair, this could be the perfect way to wriggle that additional room out of your smaller home. Whether you decide on a closet or a corner, keeping your small office tidy and organized will help you stay productive.
Limited space shouldn’t limit your home-based business. You can always buy, build or get creative to find the extra room you need for a home workspace. Read through the tips above a few more times and figure out which solution will work best for you.
Buying or selling in Hagerstown? Let Roberto at Hagerstown Commercial Real Estate help!
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