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July 1, 2021 by tragan

Buy, Renovate, or Redesign: Setting Up a Space for Your Home Business


Photo Credit: Pexels.com

Guest blog by Craig Brown (craig.c.brown.b AT gmail.com)

More people are working from home than ever before due to the COVID-19 pandemic. In January 2021, 32 percent of working age Canadians were working most or all of their hours at home — a 28-point jump from the same time in 2016. What’s more, 40 percent of Canadians who worked remotely at some point over the last year and a half want to continue working from home part time, and 19 percent said they want to stay remote on a full-time basis.

It’s likely that many companies will allow their employees this flexibility, given the fact that we learned during the pandemic that many jobs can be done remotely — at least partially. Whether you’re a marketing professional or an event planner, the odds are that you can do some part of your job from home. However, does your home have the space you need to accommodate your growing business? If not, it may be time to make a change.

Read on to discover your options for creating the perfect workspace.

Buy a larger house

If your current abode is too small to accommodate a home office, you might want to move. Before you start shopping around, create a list of your wants and needs. If you have a family, you need to consider how many bedrooms and bathrooms you need, for example — as well as details like the school district. Other considerations include location, access to public transportation, and connectivity to amenities like supermarkets.

With these details figured out, you can start the buying process. You’ll need to figure out your borrowing power and what you can afford, get pre-approved for a loan, and then look for homes in your price range. If you’re looking at as-is homes — properties with significant issues that the seller isn’t willing to pay to fix — you’ll save money in your home purchase, but you’ll have extra homework during the buying process. For these homes, Redfin notes that you should consult with an attorney, examine land records, and have specialized inspectors evaluate the property to ensure you’re making a smart purchase. Whatever type of property you intend to buy, consider working with a real estate agent who will have the network and the negotiating skills to secure the best deals.

Renovate your current home

Another option is to simply renovate the space you already have. You may have areas in your house that you don’t regularly use for anything practical, such as a basement, attic, or guest bedroom. With some remodeling, these areas can make for a serviceable home office. You can even convert a garage or backyard shed into a handy workspace. Just make sure to check whether you need any building licenses or permits before proceeding.

Once the structural remodeling is done, you can start thinking about the small details. Fast Company offers pointers for creating a productive office space that can help. For example, embrace natural light by installing plenty of windows. Research reveals that light enhances concentration, which can boost productivity.

Redesign the home office you already have

Finally, getting the space you need for your home-based business to grow may be as simple as redesigning your office. New office furniture is one investment that can save space. A standing desk frees up floor space, for example, while hanging shelves give you compact storage solutions. Rolling filing cabinets that you can move as needed are also convenient. If your home office has a closet, you can convert this into a shelving and storage area.

The design elements of your home office can also impact how big it seems. Instead of dark color schemes, opt for light shades. Monochromatic shades are also helpful in making a space look more expansive. Additionally, eliminate extra accessories and knick-knacks, which can create a cluttered, compact feeling. You can also make your furniture look less bulky by opting for clear or see-through models.

As an entrepreneur, you need sufficient space to allow your business to grow. The guide above lays out three paths you can take to expand your workspace. Whichever option you choose, you will end up with a larger area where you can thrive professionally.

Are you facing a challenge in your career? Career Constructors can help you chart a course for your next chapter, whether you’re unhappy in your current role, between jobs, or venturing out on an entrepreneurial journey. Learn more about what we do and contact us to start making moves toward your dream career!

Filed Under: Transforming society

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