6 Tips to Launch a New Business and Move into a New Home—At The Same Time!

If you need additional room to make space for your growing home-based business, it might be time to consider moving into a new house. Connecticut properties have the best of both worlds — you can easily find the right home to accomplish your personal and professional goals.

Has your home-based business outgrown your current house? S&P Properties has first-hand experience helping people plan for their next home and home office. Consider the following tips.

Know how cost of living can impact your home and your business.

If you are moving to Connecticut, it’s important to consider the varying costs of living in the area. This can impact every aspect of your business venture and housing goals since cost of living impacts price points, market costs, and even salaries. Some people choose to rent first as they explore a new area for their home-based business, while others go ahead and purchase properties in up-and-coming areas.

Increase your earning potential.

Nothing can prepare you for managing the world of business like a degree. While you are planning your move, consider also planning your education. An online master’s degree program, especially one that focuses on the skills you need to succeed in business — like accounting, marketing, administration, or human resources — can empower your venture and set you up for success from the beginning. An online program also lets you go at your own pace, set your own schedule, and work around other responsibilities.

Manage stress and prioritize self-care.

Starting a business while moving is very rewarding, but making these two major life changes at the same time can have many implications. Homie.com recommends preparing for potentially stressful situations by exploring stress-reduction techniques and making time for self-care.

Practice daily yoga, meditation, and deep breathing to help you move through stressful situations. Do something just for yourself every day, even if only for 15–30 minutes. Take a warm bath in the evening, walk the dog in the mornings, or take extra care to participate in a hobby you love.

Be aware of all permit requirements and zoning restrictions.

Depending on where you are moving, there could be zoning regulations that can impact how you run your business out of your home. Do research to find out what permits and permissions you might need before you open your doors. And do what you can to make sure your business doesn’t inconvenience your neighbors with an increase in foot traffic or parking. Use this thorough check-list from Investopedia to learn what to look for in a property that supports your home and business.

Research the space you need.

With low mortgage rates at present, this is a great time to move to Connecticut — especially for those who need to upsize their homes for a home-based business. People making, storing, and selling goods should look for large, climate-controlled detached garages for workshops. For instance, mental health professionals creating their own practice often prefer a home with a separate entrance to offer their face-to-face clients privacy.

Also, make sure the business areas of your home have access to the power, lighting, and technology you need. Don’t forget to check if there is a homeowners association in your neighborhood that will want to have some input in your business dealings.

Get your credit cleaned up and in order.

The process of starting a business while buying or renting a new home will go a lot more smoothly if you’ve first worked on improving your credit. Lenders will be more likely to give you the loans and percentage rates you need to get your company off the ground. American Financial says that not only should you clean up your credit, but also focus on establishing good financial habits, both as a homeowner and a business owner. 

Starting a new business and moving to a new home, whether buying or renting, are two major life changes that require a lot of decision-making. If your current home simply isn’t suitable for living and working, reach out to S&P Properties for help in finding a home that supports you, your family, and your business, now and in the future.