J.D.R. Hawkins

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Launch a Business and Move to a New Home All at Once

Many people dream of launching a business. This is especially true of veterans; in fact, JPMorgan Chase notes that 25 percent of veterans would love to set up their own businesses. Of course, many people will likely start a business out of their homes. The issue is, if their current house doesn’t have enough space for working and living, that dream can’t become a reality. Luckily, by handling the process correctly, it’s possible to launch a business and move to a new home all at once.

Here’s how, presented by J.D.R. Hawkins.

A Cost-Effective Strategy for Buying a House While Launching a Business

Both starting a business and moving can be expensive. If you need to buy a new home to make your professional dreams a reality, finding a cost-effective approach is a must.

In some cases, buying an existing home can work. However, home values have risen by 15.0 percent year-over-year according to the National Association of Realtors, and projections say they’ll keep climbing.

One option is to keep the cost down by buying a home as-is. By not asking the seller to handle repairs, they may offer a better deal. Just make sure to consult with a lawyer, get a buyer’s inspection, and research land records to ensure there aren’t any issues.

Another option could be to get a custom-built home. With that, you can get a house that meets any unique business needs. Plus, you could make economic choices about layouts and finishes, ensuring you can keep the cost down.

Before doing anything, however, make sure the area you’re moving to suits your needs — especially if you’re moving to another city. For example, if you’re moving to Denver, look into Denver apartments in the neighborhood you’re interested in. This way, you can check out the neighborhood and what it has to offer before making that long-term commitment.

Coordinating a Move Without Breaking the Bank or Derailing Your Company Launch

If you’re starting your company and moving at the same time, careful coordination is a must. Here’s what you need to consider.

Launching Your Business

Many of the steps to officially start your business require little more than a computer or mobile device. You can choose a business structure by doing some research. You can request a federal EIN (and state tax ID, if you need one) online. Similarly, preparing to register your business is mainly computer-based.

Since those activities don’t require much physical space, handling them while you pack up your home and head to your new house is doable. Just make sure to save digital copies of any paperwork and back them up to an external hard drive for safekeeping.

Handling the Move

When it comes to the move, you can schedule most of what you need in advance. Reserving a DIY moving truck online is fairly simple. Just make sure that you compare shops to get the best deal.

Additionally, look for low-cost options for supplies. Find places to get free boxes. Buy packing tape in multi-roll packs to save some cash. Buy thick tip, multi-colored markers for labeling boxes at a dollar store.

If you’re using a full-service mover, you’ll need to gather quotes from several area companies. That way, you can pick one that offers you the best deal.

While full-service movers are more expensive than using the DIY approach, they’ll manage everything. From packing supplies to furniture disassembly/reassembly to recycling the packing materials at the end, they’ll handle it.

Overall, the average cost of a move is about $1,500. However, if you’re using a full-service company and it’s a long-distance move, the price could come out to $10,000 or more.

Take some time to think about your budget and workload preferences. If you want to focus on your business, a full-service move could be a better fit. If you want to save money and don’t mind handling the work, then DIY could be the right choice.

Image via Pexels

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