If you’re one of the approximately 50% of households in Charlotte that pays rent, it’s time to consider buying your own home. This is definitely true if you’re looking to start your own home business, as owning your own home comes with fewer restrictions and often more space. You can do both processes all at once, so you’re ready to start working when you move in.
Purchasing a New Home
The home-buying process is a bit confusing, especially if you’re a first-time homebuyer. Working with a real estate agent is ideal, as they walk you through the entire process and answer any questions you may have. They’re also helpful when you’re looking to minimize costs on your new home.
One amazing way to save money is to buy a home as-is. With a little work, these homes can grow in value easily, making them great investments. Consult with an attorney, check land records for any warnings about the property, and have the property inspected. Costly structural or other repairs may lead you to decide the deal isn’t worth the time or cost. Get estimates from contractors on repair costs, so you know what to expect after your purchase. If you plan to do the repairs yourself, take material costs into consideration. Some home loans allow you to include these improvement funds in the overall mortgage.
Once the ink is dry, and your new home is officially yours, it’s time to move in. If you’re coming from a smaller rental, you’ll need some new furniture to fill out your space. Consider the aesthetic you’d like for your new home. Should it be all neutrals and earthy fabrics? Maybe you want bold colors and modern furniture. Whatever your style, embrace it. Thrift stores are an excellent resource for gently loved furniture and decor if your budget is tight.
Don’t forget your home office, which should be a relaxing place for you to focus on work each day. Depending on what products or services you provide, you need a workspace, storage space, a desk and chair, a shipping station, and perhaps a well-lit area for creating videos or photos.
Launching Your Business
Begin filing business paperwork while you’re waiting to move in and get settled in your new home. There are different requirements for licensing depending on your location and type of business.
Consider using a DBA, or “doing business as,” name for your new company. This allows you to expand your business later into different markets or products without having to file completely new paperwork, and it simplifies tasks, such as acquiring a domain. For example, if your desired domain name isn’t available, you can use a different one for marketing purposes. Once you’ve completed the paperwork, your business is ready to launch, and you can start making money while working from your new home.
It’s difficult to make big changes in your life, and becoming a homeowner and a business owner are both significant changes. However, working from home gives you the opportunity to enjoy your new space and spend time in your home on a daily basis.
Contact The Zahn Group when you’re ready to find your perfect home and home office in the Charlotte area.