Kevin Bartlett knows that you need more in a home than just four walls and a backyard. Some of us need a space to work, and many new home builders are taking note of that fact. If you’re in the market for a new home with work in mind, read on. Tips on how to buy with your personal and professional needs in mind below.
First, Know The Market.
When you plan to buy, no matter the reason, one of the first steps you should take is to get to know the local market. You’ll want to take a close look at the overall inventory and whether or not the closing price has gone up within the last 30 to 90 days. This will give you a better idea of how quickly you need to react when you find a home with all of the features you want.
Next, Evaluate Yourself.
Knowing the local market conditions is one thing. Still, you also have to take a close look at yourself and your financial situation. Before you search for a real estate agent to help you throughout the home buying process, sit down and determine how much you can reasonably afford.
Start with your income. Next, evaluate how much of your paycheck is earmarked to pay down debt each month. You’ll also want to factor in your monthly obligation, including your mortgage, utilities, and car payments. Other recurrent expenses to consider might include anything from health insurance to your cable bill. HSH also notes that you’ll want to get closely acquainted with things like local property taxes, homeowner insurance, HOA dues, and current interest rates.
Finally, Narrow Down Your Options.
When you have your proverbial ducks in a row, it’s finally time to begin your home search. You can narrow down listings and reduce the number of showings that you unnecessarily visit by knowing what you want. Bedrooms and bathrooms are an important first consideration. You will also want to let your realtor know if you prefer a large bedroom so you have room for an office in it or if you want dedicated office space.
Discuss with your agent whether you want to work inside the main structure or want a home with a separate building. Something else to keep in mind during your search is whether or not you can run a business from home in the neighborhood you choose. Some areas may not allow a home office if it requires clients or employees to come and go.
If you’re creating a home office is because you are starting your own business, also consider forming an LLC. This will help you protect your assets (your new home, among others) if your business is not profitable. There are a few tax advantages as well, and it is a fairly straightforward process with little paperwork. You will save on attorney fees if you simply follow your state’s regulations and hire a formation service or do it yourself.
No matter where you live, make sure that you have access to high-speed internet. This is especially important if you plan to be in an outlying area where fiber-optic service may not be available. The last thing you want is to find the home of your dreams, get settled in, and then realize that you’re spending twice as much time waiting for pages to load than you are actually working.
When it’s time to buy a home and you also need an office, knowing the local area is crucial. Pay attention to the market, and don’t forget to confirm that a home office will be welcome in your new neighborhood. Perhaps most importantly, partner with a good agent who knows the area and can help you sort through potentially confusing rules and regulations.
When you need a new home, check out Kevin Bartlett’s available properties map, and call today for assistance finding the home/office of your dreams.
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