How to Design the Ideal Home Office for Your Small Business

 

If you’re considering starting your own business (or trying to grow an existing business), there are many reasons to use your home as the headquarters. For instance, you will have no commute and you will have more control over your schedule since you can literally work at any time of the day or night that fits your lifestyle. Also, working at home means that you don’t have to pay rent for your office space, and you may be able to deduct a portion of your home’s expenses on your taxes. And perhaps the most significant benefit is that it costs less to start a business out of your home. 

Nonetheless, running a home-based business demands the same amount of hard work as any business, and you will still need a dedicated workspace that helps you to stay productive. If you want to harness the power and benefits of starting a home-based business, here are some practical tips to keep in mind as you design the perfect home office for your needs:                                       

Get a New Home if Necessary

The first stage in starting a home-based business or transitioning your existing business to a residence is to evaluate your home. Will it provide the space you need to set up an office that meets your needs? If not, consider connecting with the award-winning real estate team at Vutech & Ruff, who can guide you toward different homes that could better fit your business. Be sure to view homes that can accommodate your office and storage needs, and research home prices in any neighborhood you’re interested in to get an idea of what steps you will need to take next. For example, HER Realtors reveals that homes in Columbus tend to sell for around $279K on average.

Another thing to consider is that if you have pets, you will need to take extra precautions when touring homes. For example, you might consider leaving your pet at home or with a pet sitter. That way, you don’t have to worry about any problems if the home you’re viewing has other pets or household members who have allergies.    

Maximize Sunlight

 Natural light provides a multitude of health benefits. And it can do wonders for helping you stay productive. Set up your office in a space that has windows and plenty of access to sunlight. Of course, you will need additional lighting for when you need to work on cloudy days, early mornings, or nights. Quality task lighting and floor lamps are ideal lighting options for a home office.

 

Create Separation 

Distractions abound when you work from home, especially when you have a family. If possible, choose a space that physically separates your work and home life, whether that means converting a garage or basement into your office or choosing a room in your main living area that has a door. If none of these options are available, look into adding curtains or other types of dividers around your workspace. 

Equip Yourself

You will need to make sure that your workspace accommodates all the equipment you need for your everyday tasks. Get a desk that fits your computer, printer, fax machine, and/or any other equipment necessary. Utilize under-the-desk storage, and invest in a quality ergonomic chair. And of course, make sure you have all the tech tools and software needed to perform your daily duties. 

Make It Visually Pleasing 

Finally, you want your office to look good. Consider adding a couple of houseplants, artwork from your children, family photos, or anything else that can make your office a comfortable environment. Just be sure not to overdo it, as you want to keep the visual clutter (AKA distractions) to a minimum.

 Home can be the perfect place to run a business. If necessary, look for a different home that can meet your needs. When setting up your home office, be sure to choose somewhere with plenty of natural light exposure, and try to create physical separation between your work and home life. Lastly, invest in all the equipment you need for success, and make sure your home office is attractive and comfortable.

The Ultimate Checklist for First-Time Home Buyers

Buying a home can be stressful for first-time buyers, but detailing out a plan can make the process much easier. Following a home-buying checklist is manageable and makes the purchase more predictable, which helps avoid hurdles down the road.

Contact an Agent and Mortgage Lender

Real estate agents can help answer all of your questions or provide first-time homebuyers with advice. Agents will also help you get prequalified and help you identify a sales price. You don't necessarily have to work with the first agent you meet. Consider if an agent has referrals or how experienced they are in the market.

Once you've contacted an agent, its time to speak with a mortgage lender. Lenders may only work with specific loans. Some lenders will match you with a loan that's perfect for your needs. Communicate with your real estate agent to see if they have lender referrals.

Manage Your Finances While Finding a Home

After you determine your downpayment, start to set funds aside and keep your financial situation steady. Your lender will track your income and expenses. You should keep your funds in a checking or savings account for at least three months.

Now that you're prequalified and have the funds to purchase a home, you can start looking for the perfect place to live. Start by looking into neighborhoods and price ranges. Stay on top of the listings your agent sends you every day, and start looking for yourself online.

Make a Purchase Offer and Close

Your agent will provide you with advice on making an offer. Once you find the perfect home, make an offer immediately. If you run into a multi-offer dilemma, consult with your agent on tactics to make your offer shine. When the offer is accepted, you'll start to close on the home. Your agent can help you with home inspections and to manage closing costs.

Vutech & Ruff is here to help first-time buyers in Columbus, OH. Our team of experienced agents can help you navigate our listings to find your dream home. Contact us today to get started!

The Financial Benefits of Owning a Home

Owning a home is one of the main ways most Americans accumulate wealth as they age. As long as people purchase houses they can actually afford, homeownership can be very financially beneficial. Considering that home values increase around 3 to 4% each year, it is usually quite likely that a home will increase in value over time. Here are some of the other benefits of homeownership.

Amassing Equity

The main way that owning a home increases wealth over time is through equity. Each time a mortgage payment is made, equity is gained in the house. Equity is lowest during the first few years of ownership as most of the mortgage payment goes toward paying interest. However, over the life of the loan, the amount of principal paid increases each month, thus increasing equity in the home. Equity is also amassed from the increase in the value of the home or land. By upgrading and maintaining the appearance of the home, owners can actively protect or even increase the value of their property.

Home Ownership Tax Incentives

Thankfully, the tax code provides many benefits to homeowners. The mortgage interest rate deduction allows homeowners to deduct up to $750,000 of total mortgage debt, including any home equity credit. Additionally, property taxes paid on primary residences and vacation homes are tax-deductible. Origination fees for closing costs incurred when purchasing the home can be deducted from taxes during the first year of owning the home.

Control of Housing-Related Costs

While it may seem like there are a lot of expenses involved with owning a home, the costs are more fixed than when renting. Unless they're refinanced, mortgages do not increase over time. Conversely, rents are constantly changing with the market. As people age and move further in their careers, their incomes often increase. With the widening disparity between increases in income and rental prices, the return on increased income will not be as great from someone renting compared to a homeowner.

Buying a home is a big decision, but it has a lot of financial benefits. Vutech & Ruff has decades of experience helping Columbus, OH clients buy the home that best fits their needs. No matter what your goals are, we have a realtor on our team with the experience to get the job done. Take a look at recent listings and contact the realtor that fits your needs at Vutech & Ruff.

The Top Three Things to Prioritize During a Home Inspection

Home inspections are an important part of real estate transactions, as they help to ensure that a house is in good condition. Buyers should always ask for a home inspection before making a final decision, and they can request repairs, ask for a lower price, or even walk away from the sale based on the results. Here are the top three things to prioritize during a home inspection.

Is the Home Structurally Sound?

One of the main goals of inspectors is to determine how structurally sound a home is. Red flags that a home will need lots of costly repairs include cracked foundations, damage to the roof, and signs of water damage, which could also indicate a nasty mold problem. When a home has one or more of these structural problems, buyers will need to determine if the house is still worth buying at the offered price.

Are the Utility Systems Working?

Inspectors also look at the house's electrical and plumbing systems to find out if everything is in working order. Electrical system problems can be anything from exposed wiring and splices to improperly modified electrical panels, and they can cause fires, injuries, and other issues. Broken or rusty pipes, leaks, and clogged lines are all signs of problems, which can run up water bill costs and cause water damage.

Are There Signs of Infestation?

Ants, roaches, termites, rodents—any number of pests can make their way inside a home, wreaking havoc on its structure and the health of its inhabitants. Unfortunately, an inspector may discover signs of an infestation too late, meaning the pests have already caused damage to structural elements or wiring. An unchecked pest problem may be a large factor in a buyer's decision to renegotiate the sale.

The licensed real estate agents at Vutech & Ruff represent both buyers and sellers in the Columbus area, and we always advise our buyers to get a professional home inspection before completing the sale. If you're ready to find a new home, contact us online or call 614-255-0600 today.

Ways to Boost a Home's Resale Value

Building equity in residential real estate is one of the most substantial and important ways most people grow their personal wealth. When it's time to sell that home, whether it's to make space for a growing family or to downsize after the kids have moved out, maximizing the resale value is the goal. While the market value of a home is largely tied to economic and sociospatial trends outside the control of any individual seller, there are still plenty of ways a person can boost their home's resale value.

Staging Is Key

Nobody will buy a home if they can't see themselves living in it. If the seller has the place packed full of their things, it will be hard for potential buyers to imagine how their lives might look in the place. Homeowners should try to make their place as much of a blank slate as possible so buyers don't have to do as much work filling in the canvas. Cleaning and decluttering are two essential steps that no seller can afford to skip. Your real estate agent will be able to provide a number of referrals for both staging and estate sale companies that can help with the decluttering and staging process.

Pay for Professional Photos

While a physical visit to the home is what seals the deal, buyers decide which homes to visit based on the quality of the residential listing. The better the photos look, the more likely someone is to want to see it in person. Investing in professional photographs for the listing is a must to show off the space in the best light. In today’s market, it’s common for your real estate agent and/or company to pay for professional photos as part of their marketing strategy.

Opt for Energy Efficiency

Upgrading a home's appliances is one way to invest that can lead to a big return. Installing energy efficient stoves, refrigerators, water heaters, etc., will not only look good but will help lower energy bills. These are relatively inexpensive upgrades that can be factored into the home's asking price and sold to buyers as upgrades that will keep their utility bills low for years—even decades—to come.

Get the most money out of your residential real estate sale so you can be set up for whatever the next phase in life may be. At Vutech & Ruff, we have an unmatched depth of experience and will work hard to get the best possible price for your home. Check out our seller resources for more information to help you navigate the home buying process. Contact us today to get started.

Three Tips to Find the Right Realtor

Choosing a Realtor® with experience in the client's specific field is essential for meeting real estate goals, regardless of whether those goals include buying, selling, or investing in property. These tips can help those who need a real estate agent connect with an individual who can provide focused expertise in their desired neighborhood and price range.

Gather Recommendations 

Friends, family members, and colleagues are great sources of real estate recommendations. Those without friends that are familiar with the local real estate market can do their own market research. Which Realtors have lots of "SOLD" signs around town? A short list of recommendations can be compared with online reviews to narrow down the number of agents to interview. Buyers and sellers should check with the state regulatory board for actions and complaints against Realtors and browse Realtor websites to see how well they present their properties online.

Ask Questions

When interviewing an agent, potential clients should ask the following questions:

• How long have you been in the business? 
• Do you have specialized experience in my price range and desired neighborhood?
• What is your schedule?
• What is your preferred method of contact?
• Do you work alone or with a team?
• How soon can I expect you to respond to calls and messages?
• Can you provide contact information for recent clients?
• Are you able to provide data to support pricing and other decisions?

Don't Discount Personality

Clients and agents will be spending a significant amount of time together. For this reason, buyers and sellers should find a Realtor with whom they truly click. In many cases, chemistry is just as important as experience. Most individuals try to find a Realtor who is relatable, down to earth, honest, and pleasant. Good communicating and negotiating skills are also essential.

Vutech & Ruff has decades of experience helping Columbus, OH clients with buying and selling homes for personal and investment purposes. No matter what a client's goals are, we have a Realtor on our team with the experience to get the job done. If you're searching for a Realtor, browse our current listings and call 614-255-0600 or contact us online for a consultation.