Creating the Perfect Workspace in Your Home

As tempting as it may be to work from your living room couch or dining room table, a private office space — preferably one with a door — will be crucial to the success of your home-based business. A dedicated workspace will allow you to claim the home office deduction at tax time, separate your work and personal life, and stay comfortable and productive throughout the workweek.

If you’re out of living space at home, however, you may be wondering how and where you’ll establish a private workspace for your small business. In just three steps, here’s how you can do it!

Step 1: Build, Buy, or Redesign

If you’re unable to find a space in your home that accommodates your small business, you’ll need to choose between one of three things: building a room addition; buying a new house; or redesigning a room, attic, garage, or basement. Or if you have unused outdoor space, you could build or convert a backyard shed into a home office.

If you can’t add a backyard shed and don’t have the time, budget, or patience to undergo an office renovation, buying a new home may be the best solution for you. An experienced real estate agent can help you to find a larger house with plenty of space for your personal and professional needs.

As a home-based business owner, you may need ample space for:

• Guest parking.
• Client or guest waiting areas.
• Storage.
• File cabinets and bookshelves.
• A desk, chair, table, and additional seating for visitors.

Step 2: Purchase Essential Equipment

After buying a larger house, building a room addition, redesigning a space in your existing home, or adding an office shed, you may need to upgrade your office furniture and equipment. A computer and tablet, for instance, are some of the most important devices you’ll need as a business owner — and it’s best to replace them if your current models aren’t up to speed. If you look for discounts and online deals, you can even save on the purchase of your new business tech.

In addition to a computer and tablet, you may also need to purchase a new desk in order to effectively run your business from home. Adjustable sit-stand desks are best for health and productivity as sitting for long periods of time increases your risk of heart disease, diabetes, and early death. If you do opt for a standard desk and chair, however, be sure to keep ergonomics in mind.

Step 3: Structure Your Business

If you’re in the process of launching a new business, you can finally formalize things once your home office space is up and running. However, you’ll first need to decide whether to structure your new home-based business as a sole proprietorship, corporation, partnership, or limited liability company (LLC). Sole proprietorships are the simplest type of business structure, while corporations are the most complex.

As the owner of a home-based business, there are many advantages of forming an LLC — from tax benefits and protection from liability to management flexibility and minimal paperwork. And with a formation service, LLCs can be easily and affordably formed online — eliminating the need to hire a lawyer. Before forming a limited liability company, be sure to review and abide by your local LLC laws.

To conclude, homebuying is a complicated process, but it’s often the best choice for home-based business owners who need more office and living space. If you don’t need a whole lot of space for your business, however, a converted bedroom, attic, or walk-in closet may be sufficient.

Whatever your business needs may be, an experienced real estate agent can help you to determine whether buying, building, or redesigning will be the best choice for you and the future of your home-based business. Contact Kyle Carnegie today! 703-687-6008