How to Make Starting a Business and Moving Work for You
You may be running a thriving home business. However, if your home doesn’t meet your business needs, it might be time to look for something more suitable.
Contact The Curtis Team to get the home-buying process started at 210-477-4855!
Evaluating the Market and Figuring Out Your Finances
Figure out your debt-to-income ratio by comparing your total monthly debt compared to your gross monthly income. Your mortgage lender will use this information to determine how big of a monthly payment you can afford. Once you have an idea, you can compare this information to the housing market in the area.
As a general rule, lenders recommend you spend no more than 30% of your gross monthly income on your mortgage. Before you buy a house, you should compare prices in the area and the general vicinity. Get an idea of the lower and higher end of the spectrum and determine where your income would place you.
Prior to home shopping, speak to your lender about a mortgage preapproval. This ensures that you don’t waste your time house-hunting and helps sellers to take you more seriously. During the preapproval process, you fill out the information about yourself, including your work history and income. The lender will usually perform some type of credit check and determine how much of a mortgage you qualify to take out. We highly recommend Legacy Mutual Mortgage – contact them today for a quick preapproval to get the ball rolling.
Make a Home Buying Checklist
The home buying process can be stressful at times, and you add to the stress when you go in blindly. Before you start, create a list of your wants and needs.
Begin with the number of rooms and bathrooms you need for your family. Add any specifics regarding your business. For instance, consider what you’ll need for office space. If you’re going to have clients visiting the house, you may want an office close to the main entrance of your home or even a separate entrance.
You should create your wants list last. As you make this portion of your list, add special features, such as a pool, jacuzzi, hardwood floors, or two kitchens.
Take Steps to Simplify Your Business
You’re trying to find the perfect space to merge your business and life. Therefore, you should aim to make your business as streamlined as possible for a smoother transition.
One key way to do this is to create a “doing business as” name. Also known as DBA, you could easily expand your company in the future to include other services. Additionally, when you have a DBA name, you can use it as your domain name if your current business name is unavailable or too pricey.
Want to learn more about business concepts like marketing, communication, and management? Earning an MBA will teach you how to apply business skills like these, and with an online program, you’ll be able to learn while you run your business.
Start Your New Business Off the Right Way
Your business is the future for you and your family. Take steps to kick your business off smoothly and find the space you need for it easily.