As your home-based business continues to grow, your current living space might start to feel more and more cramped. Your enterprise is thriving, so it’s time to finally have that home office you’ve always dreamed about. Or perhaps you need a dedicated space to meet with clients or potential partners. Whatever your reasons, upsizing your home does not have to be a difficult or intimidating process. If you keep a few helpful tips in mind, you will soon find yourself living in the perfect space for furthering your entrepreneurial journey.
Value Your Current Home and Form a Budget
Before you can make a big move, you must first determine the sale value of your current home. This will help you determine your budget when you begin hunting for your next house. There are a number of online home value appraisal tools that can give you an approximation of what to expect.
Keep in mind that it can take quite some time to close the deal on your home after going to market. If you are in a hurry to move your business to a larger space, you might have to compromise on your asking price to finalize the sale quickly.
Write a Wishlist and Start Your Research
When you have a budget in mind, you can start searching for a home that matches your wishlist. For the sake of accommodating your burgeoning business, the number of bedrooms in your dream house is of the utmost importance. You need sufficient space to comfortably satisfy your family while also having a dedicated home office room with plenty of natural lighting. Some websites offer 3D virtual home tours so you can determine if a property’s layout meets your criteria. Some other features you should look for might include:
- Convenient location
- Appealing outdoor space
- Accessibility
Contact a Real Estate Agent and Seek Guidance
You can accomplish a lot of research on your own using free online resources, but a real estate expert from the Dream Home Estate team can be a serious boon when trying to navigate the complexities of homebuying. Your agent can help you understand credit requirements and loan options that you might have overlooked otherwise. Of course, a realtor can also help you track down the perfect home and shed some light on closing costs. Experts list potential closing problems as a major reason to use a real estate agent when buying a home.
Insure Your New Home and Purchase a Warranty
Because buying a bigger house is a large investment, it is extremely important to become educated about insuring your home and the costs involved. Homeowners’ insurance can protect your finances in a number of situations including instances of structural damage or theft, but it does not cover cases of home systems or appliances breaking down.
A home warranty is an annual renewable contract that provides coverage in the event of damage to your heating, cooling, electrical, or plumbing systems. There are many policy options out there, so take the time to read home warranty reviews to find the right provider for your specific needs.
Upsizing is part of your natural progression as a growing business owner. As your clientele expands and your assets increase, your means and your needs both grow as well. Because your home is your base of operations where you earn your livelihood, it is vital that you spare no effort to find the perfect space to continue fostering your family and your business.
(Cherie Mclaughlin)
