Are you a business owner who currently operates your company out of your own house? If so, then you know better than anyone just how important it is to have that ideal office setup. You need a space that allows you to be productive, efficient, and organized, and that works as the ‘face of the business’ if you will. While your original office space may have worked just fine when starting your business, over time, and as your business grows and potentially takes on new avenues, you can quickly grow out of your home office space. So, what’s the solution?
For some, the answer may be to bite the bullet and rent office or workspace, but for others, this can end up being a cost and undertaking you’re just not willing to take. Instead, it could be that you’d be better off upsizing your house and moving into a bigger space that allows for more room to work. You can always turn to this solution at a lower cost than usual as companies, like TheHousePlanShop offer ready-to-build house plans. But before you go ahead with purchasing or building a bigger house, here are some things you’ll want to be aware of.
Think About How Much Space You Truly Need
Before you start looking at massive homes, it’s a good idea to think things through logically. How much space do you actually need? What would be just enough, and what would still give you room to expand in the future should the need arise? You don’t want to end up having to upsize again in a few years.
What Kind of Space Would Work?
It’s not just about the actual increase in floor space; it has to do with the layout of the home. Perhaps you need a house that offers a separate workspace that is nowhere near other common rooms in the house? Maybe you need your own separate entrance into the workspace (ideal if you will be having meetings with clients and partners)? What is your design concept? Perhaps you even want something with a window to ensure adequate office lighting?
Consider How it Affects Monthly Expenses Outside of the Mortgage
A bigger home typically comes with a bigger price tag, and while you may be prepared to pay more on your mortgage, have you given thought to how it affects the rest of your monthly expenses? Take for example your home energy costs – you can pretty much guarantee those will go up as well! It takes a whole lot more power to heat and cool a larger space, so you’ll pay for that through your utility bills.
Another cost that may end up increasing is your home insurance. In fact, this could be a good time to look into comparison quotes from other companies to ensure you’re paying the best price. CompareNI.com gives people the ability to compare quotes from 25 different home insurance NI providers. You simply fill in one form, and you will then get a list of competitive quotes. You may even end up paying less than your previous home in the long run.
Making the Right Move for Your Business and Finances
At the end of the day, the right move for your business and finances may just be to upsize to a larger house, but before jumping in, it’s always wise to take a little extra time to think things through.
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