Baird & Warner Naperville
bill@billwhitehomes.com
Feb
20

Wondering What’s Going on with Home Prices?

The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices.

Local price trends still vary by market. But looking at national data, Nataliya Polkovnichenko, Ph.D., Supervisory Economist at the Federal Housing Finance Agency (FHFA), explains:

“U.S. house prices were largely unchanged in the last four months and remained near the peak levels reached over the summer of 2022. While higher mortgage rates have suppressed demand, low inventories of homes for sale have helped maintain relatively flat house prices.”

Month-over-month home price changes can be seen in the chart below. The data also shows that price depreciation peaked around August. Since then, any depreciation has been even milder. In other words, today’s home prices aren’t in a freefall.

Wondering What’s Going on with Home Prices? | Simplifying The Market

What Does This Mean for You?
If you currently own your house, you may be concerned about even the smallest decline in prices. But keep in mind how much home values grew over the last few years. Compared to that growth, any declines we’re seeing nationally are likely to be minimal. Selma Hepp, Chief Economist at CoreLogic, shares:

“. . . while prices continued to fall from November, the rate of decline was lower than that seen in the summer and still adds up to only a 3% cumulative drop in prices since last spring’s peak.”

It’s also important to remember that every local market is different. That’s why it’s essential to lean on an expert for the latest information on the home prices in your area if you’re planning to make a move this spring.

Bottom Line
To understand what’s going on with home prices in your market and how they could impact your goals, contact us today!

Jan
26

Why it makes sense to move before spring

Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.

Spring Should Bring a Wave of Buyers to the Market
In most years, the housing market goes through predictable seasonal trends in activity. Winter is typically a quiet point in the year, while spring sees a surge of buyers begin their search. And experts project that this year will be no exception.

Right now, buyer demand is low due to a combination of normal seasonal trends and a reaction to last year’s rise in mortgage rates. But rates have started to come down since last November, which has more and more potential buyers planning to jump into the market. That means right now is a sweet spot if you’re in a good position to buy, before more buyers reappear. Affordability is beginning to improve, but demand is still low — for now. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:

“. . . expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”

If you’re ready to buy a home, right now is the best time to do so before your competition grows and more buyers enter the market.

Today’s Sellers Are Motivated
Low demand from buyers often means sellers are more motivated to work with you, and that can set you up to buy a home on your terms. In fact, sellers have been more willing to negotiate this winter because there are fewer buyers in the market. According to a recent article from Forbes:

“. . . sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.”

But keep in mind, the advantages buyers have this winter won’t last forever. The competition you face could be greater if you wait until spring to make a move, and increased buyer demand means sellers will have less motivation to negotiate with you. Be sure to work with a trusted real estate professional to learn what you can expect in your local market right now.

Bottom Line
If you’re in a position to buy a home, it may make sense to move before spring. Working with your team of expert real estate advisors is the best way to learn about the current market and what it means for you. Connect with a professional today to determine the best plan to achieve your homebuying goals.

Jan
21

Preapproval in 2023…what you need to know

One of the first steps in your home-buying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains:

“In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.”

Basically, pre-approval gives you critical information about the home-buying process that’ll help you understand your options and what you may be able to borrow.

How does it work? As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with higher mortgage rates impacting affordability for many buyers today, a solid understanding of your numbers is even more important.

Pre-Approval Helps Show You’re a Serious Buyer
Another added benefit is pre-approval can help a seller feel more confident in your offer because it shows you’re serious about buying their house. A recent article from Forbes notes:

“From the seller’s perspective, a preapproval [sic] letter from a reputable local lender often can make the difference between accepting and rejecting an offer.”

This goes to show, even though you may not face the intense bidding wars you saw if you tried to buy during the pandemic, pre-approval is still an important part of making a strong offer. In fact, Christy Bieber, Personal Finance Writer at The Motley Fool explains it may be the most important part of making an offer:

“Pre-approval maximizes the chances you’ll be able to actually close the deal – and sellers want to see that.

The fact that a pre-approval gives you a better chance of getting your offer accepted is undoubtedly the most important reason to complete this step . . .”

Bottom Line
Getting pre-approved is an important first step toward buying a home. It lets you know what you can borrow and shows sellers you’re serious about purchasing their home. Connect with a local real estate professional and a trusted lender so you have the tools you need to purchase a home in today’s market.

Dec
27

Confused About What’s Going on in the Housing Market? Lean on a Professional.

If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains:

“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Cofounder and Chief Data Officer at Parcl, says:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying or selling a home is a big decision, and it should be one you feel confident making. To help you separate fact from fiction and get the answers you need, lean on a local real estate advisor.

A trusted expert is your best resource to understand what’s happening at the national and local levels. They’ll be able to debunk the headlines using data you can trust. And using their in-depth knowledge of the industry, they’ll provide context so you know how current trends compare to the normal ebbs and flows in the industry, historical data, and more.

Then, to make sure you have the full picture, they’ll tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you’ll use all of that information to make the best possible decision for you.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where an agent comes in.

Bottom Line
If you have questions about the headlines or what’s happening in the housing market today, connect with a real estate professional for expert insights and advice.

Oct
24

Mistakes to Avoid During Your Home Inspection

Before buying a home, you need to make sure it’s not going to fall apart days after you move in. The first way to do this is to walk through a potential home. The most reliable method, however, is to have a home inspection. After all, a walkthrough can be quick and unreliable, while bringing in a professional is trustworthy. However, there are some mistakes you can make even when it comes to home inspections. And when it comes to making sure a potential home is safe, you need to be specific. So, to help you out, we’ve put together a list of mistakes to avoid during your home inspection, and we hope you find it helpful.

Not looking into the inspector

One of the mistakes to avoid during your home inspection is neglecting to research your inspector before hiring them. Just like with any profession, some inspectors are much worse than others. That can be due to a lack of experience or the wrong inspector. Either way, you shouldn’t take any chances regarding your and your home’s safety. Take the time to look into your inspector’s work experience; check if there were problems or complaints about their work. If you spot a few too many issues, you should probably consider a different home inspector. Remember, this is something you shouldn’t take any risks with, so be thorough. Additionally, when it comes to the home itself, you should look into how to know you’ve found your dream house. After all, that’s not something that happens often, so pay attention when looking.

One of the mistakes to avoid during your home inspection is not doing a background check on the inspector.

Refusing to get a presale inspection

On the flip side, if you’re selling the home, not getting an inspection before selling it can be a big mistake. That is because buyers usually get a home inspection done to ensure no issues are present. And if there are issues, buyers tend to give up on the property, which isn’t good for you. So, getting a presale inspection allows you to fix potential problems ahead of time, ensuring buyers don’t lose interest. Additionally, if you do this before listing the home, you could get away with listing the house for a higher price. All in all, getting a presale home inspection only benefits you as a seller. And if you’re buying and selling at the same time, consider some useful tips for buying and selling a house at the same time.

Not being present for the inspection

Being present for the home inspection has a lot of benefits for you. Firstly, you get to see the problems for yourself, if there are any. Second, you can ask your inspector as many questions about the home as you like. Home inspectors will often take the time to explain everything they’ve seen to homeowners if they’re present for the inspection. Also, reading the inspection report isn’t enough to give you a good idea of the situation. So, getting to see it in person is the best call, especially if you’re buying a home. That said, inspections can take quite a bit of time, so make sure to set aside the time. Additionally, make sure to plan for your move; experts from helixmoveva.com note that planning a move can take a lot of time, and you should be prepared for it ahead of time.

Being present during the home inspection has a lot of benefits.

Not preparing the home before the inspection

Another one of the mistakes to avoid during your home inspection which sellers make is not preparing the home ahead of time. The last thing you want is for your inspector to have to empty a closet to get into the attic. Ensure the home inspector has easy access to the house before arriving. Home inspections last a while anyway, so ensure you clear out everything so your home inspector doesn’t have to spend extra time just trying to get somewhere. Unlock the utility closet, shed, or basement, and make sure all access points are usable. Your home inspector will appreciate it, and you will save time. Also, when looking into buying a new home, consider the neighborhood amenities to look for when buying a home. You want to make sure your new home has everything you need.

Not reading the inspection report

Even if you’re present for the home inspection, you should take the time to read the inspection reports. Although your home inspector should verbally explain all the issues they find, reading through the report is still an excellent idea. There could be something they forgot to mention in the report, and you might as well read through it since you paid for it. Additionally, you can use the report when hiring experts to do repairs, as you can give them detailed descriptions of the problems. All in all, even if you’re sure you understood everything regarding the inspection, take the time to read the report anyway. As we already mentioned, the safety of your home isn’t something you should take chances with. So, ensuring nothing got glossed over is vital after any home inspection.

Once you receive the report, make sure to read through it.

Mistakes to avoid during your home inspection – wrap up

There are a lot of mistakes one can make when getting a home inspection. And this can be not nice since your home’s safety should always be taken seriously, and you can’t afford to take any chances with it. So, being there in person and asking specific questions is very important, as well as reading the report afterward. If you’re the one selling the home, remember that there are a lot of benefits to getting a home inspection done before listing the home. We hope this list of mistakes to avoid during your home inspection helps you, and we wish you a good day.

Photos used from Pexels

Sep
13

6 Tips for Making Your Investment Property Appeal to Renters

After your first investment property purchase, you may be eager to get it on the market and available to rent. However, you will benefit from taking the time to make the necessary changes that will add value to the home and the renter’s experience. Consider these tips to make your property appeal to more renters.

Ready to purchase a Naperville investment property? Reach out to Bill White Homes for exceptional real estate service!

1. Prioritize Repairs
Most homes need at least a few small repairs after purchase. Even a simple paint job can make the entire place look different. You can DIY something that simple, but don’t be apprehensive about hiring someone to do repairs properly. It’s much easier to get them done before someone moves in. You can also avoid complaints and costly maintenance requests if you get the job done right the first time around.

2. Make Valuable Renovations
Think about changes you can make to the home that will add value and allow you to increase the monthly rent. For example, research shows that outdoor living space, open floor plans, and green appliances are among the top things renters look for in a home. Take the time to make the outdoor area as nice as the inside. You can add a simple patio to the backyard with plenty of space for furniture. Upgrade the kitchen appliances and remodel the bathroom to include more modern fixtures. Even small changes, such as replacing the carpet can add significant value.

3. Market Effectively
Marketing is an important component for any real estate investor. One simple thing you can do is create a PDF to showcase your property and use it to email interested renters. You can even use a PDF editor online to make changes to documents and drawings as you make upgrades. Just upload the file to the website and make the changes. Then you can download and share. Hire a professional web developer to create a website for your company as well. That way you can show all your properties in one place. After your first investment property purchase, you may be eager to get it on the market and available to rent. However, you will benefit from taking the time to make the necessary changes that will add value to the home and the renter’s experience. Consider these tips to make your property appeal to more renters.

4. Register Your Business
As a rental property owner, your business now is to cater to the needs of the property and the tenant. However, things can go wrong. Protect yourself and your assets from possible liability lawsuits by registering your company as a limited liability company. An LLC provides liability protection, and you can use the company name on the deed for your property. Hire a lawyer to complete the registration process for you, or you can do it online at a significantly lower price.

5. Hire a Property Manager
A good property manager will handle all the tasks a landlord would handle. They will ensure you have well-vetted tenants, make all the arrangements for rent collection, handle any issues with default payments, and schedule maintenance staff. Be sure to find someone you trust, or you can hire an established company to act as a property manager for you.

6. Focus on Amenities
You can add value to the rent by including amenities. It can be as big as installing a swimming pool or as small as including a microwave. If your property is in a high-demand area for business travelers, consider furnishing the apartment. Then you can market it to corporations.

Once you have the home ready and the renters are moved in, your job changes. Being a good landlord requires patience and sometimes empathy. Treat your tenants with respect, and they will likely return the favor.

Aug
23

How to Know You’ve Found Your Dream House


A house hunt requires lots of time and patience. You need to do research, inspect neighborhoods, and prospect the market. Also, you need to make compromises in some cases and become a great negotiator. And when you do find a great home, you still may wonder if it is THE ONE. But don’t worry! It’s not unusual for buyers to ask themselves such a question. After all, you are investing in a house where you will raise a family or retire, so it is a big decision. You must ensure that you are making the right choice and avoid buyer’s remorse. As a result, we want to help you in your quest for your dream house and show you how to know when you have found it. So keep reading to see how you can tell if you have found your future home.

You feel good about it

Do you know that sensation you get when you enter a house, and it simply seems right? That’s your gut feeling telling you that you found your dream house. It may hit you as soon as you set eyes on the property or open the front door. It can even happen when your realtor is talking to you about the house you are about to view. The feeling sticks to you further, and you get excited just thinking about the possibility of owning that house. Additionally, you want to show the home to all your friends and family and move into it immediately. And that is what we would call a perfect match.
So if a house you see makes you feel happy, trust your instinct. Of course, do not let it blind you and insist on seeing the house at least once more before making a decision. However, the fact that you get so excited is a great sign.

The price fits your budget

Unfortunately, it happens very often that the house you were dreaming of is way out of your budget. That means that you need to compromise and lower your expectations. However, just because you are looking at homes in a lower price range does not rule out the possibility of finding your dream home. Buying a less expensive, maybe older, house and then renovating it as needed could also be a great option. As a result, don’t lose your head, and don’t go bankrupt just to buy a house. Keep in mind that, in addition to the cost of the home, you will need to prepare for additional expenses. Property taxes, bills, insurance, closing fees, and house maintenance are a few examples. Instead, set a budget, be realistic, and you won’t be disappointed. In reality, you will be much happier when you find the ideal home that fits within your budget.

It fits your checklist

You are upsizing, and the property you are looking at has that one additional bedroom you need? You are looking for a home to retire to, and this one has a garden where you can take care of your beloved flowers? Then you might just have found your dream house! How to be a hundred percent sure? Well, before you begin house hunting, make a list of everything you want in your future home. Write down the number of bedrooms you need, bathrooms, and if you would like a laundry room or a garage. In addition, think of the features that are not mandatory but would make you happy. For example, a deck or porch, a yard, a pool, or an open floor kitchen are all realistic wishes. If most of them check your list, you have just found a great property.


You already imagine living in the house

If you have already decided on the colors for the walls and visualized what decorations you would put in each room, you have found your match. Also, if every room already has a purpose, and you can imagine your little ones playing in the yard, there is no doubt about it. You can make an offer and start packing your bags for the relocation. There is no better sign that lets you know you have found your dream house than already imagining yourself living there. However, if you want to settle in stress-free when the time comes, consider moving and hiring residential movers to help you with the relocation. With professional assistance, you can be in your new house and decorate the rooms in no time.

The house passes the home inspection

Besides checking the points listed above, your future house must pass a home inspection. You may be thrilled about the house, but your excitement level will decrease when you discover it has issues. And even if you are prepared to make small compromises here and there, some problems may be too significant to overlook. Therefore, never make an offer before asking for a home inspection. That will save you a lot of money, time, and disappointment in the future. However, the moment your potential home passes the home inspection, you can continue with your plans undisturbed.


You have confirmation from an expert.

There is no better partner you would want to have on a house hunt than a reputable real estate broker. A professional not only helps you in finding your dream house but also works hard to get you the best deal possible for it. They have the expertise and ability to spot a fantastic property when they see one. At the same time, they can spot when something is not quite right with other homes. Therefore, if you want to know for sure that you have found your dream house, choose to work with a professional. It’s safer, less stressful, and a lot of times cheaper.

In conclusion

If you find a property that checks all the points listed in this article, there is only one thing left for us to say: congratulations! You’ve just found your dream house. We wish you many happy memories in your new home and long and happy life.

Images used:
https://unsplash.com/photos/178j8tJrNlc
https://www.pexels.com/photo/woman-in-brown-suit-standing-beside-woman-in-gray-blazer-7642197/
https://www.pexels.com/photo/man-showing-a-blueprint-to-a-couple-7641859/
https://www.pexels.com/photo/a-man-checking-the-floor-of-the-house-8293746/

Jun
16

Useful tips for buying and selling a house at the same time

When it comes to buying and selling a house, the process can be daunting. Attempting both at the same time adds a new level of difficulty. As a buyer and a seller, you’ll have to negotiate in a seller’s market that’s particularly hot. The process of purchasing or selling a home cannot be completely predicted. However, planning your preferred strategy can make the ups and downs a little easier to navigate. Because of this, it’s essential to think ahead to avoid any problems that may develop. Here are a few pointers to help answer some of your most pressing issues about purchasing and selling a home at once.

1. Presentation is key

For the sake of the potential purchasers that walk through your door, you want your property to look its utmost best. Home staging can help with that. When you put your property on the market, you want buyers to visualize what it would be like to live there. When done correctly, selling a home quickly should not be an issue. One of the critical goals of home staging is to assist potential buyers in seeing the space as their potential home. The best method is to start with a completely blank canvas. You want your house to have a specific look and feel, but you don’t want it to have any personal touches. Keeping everything super clean is a no-brainer when selling your house. You should also provide as much natural light as possible.

2. Make sure you work with a seasoned real estate agent

The process of buying and selling a home at the same time can be complicated, which is why it is best to work with a professional. Additionally, an experienced local realtor can advise you on the best time to sell your home, in addition to assisting you in determining its market value. As well as designing a strategy, they can also help you with the negotiation of different components of the process.

3. Pay attention to the neighborhood

Most individuals prefer to live near the necessities of daily living, such as places to shop, parks, and places to eat. There are many other things to consider, such as accessibility, proximity to public transport, schools, and of course, healthcare. This is very important both when buying and selling a property because it will give you an idea of the right price. Make sure you always scout out the amenities in the area.

4. Consider a short-term loan

A “bridge loan” is an option if you don’t have enough money for a down payment. It’s a short-term loan that takes advantage of the equity in your present home to make the down payment you need to buy a new property. Taking on two mortgage payments for up to six months or a year, which is the standard duration for bridge loans, is the only way to go about this.

5. Pay attention to the price

Your home’s selling price is one of the few elements that you have control over during the process. If you undervalue your property, you will have less money towards your next down payment. However, if you price your home too expensive, you risk the buyers passing on your property. For the best chance of receiving multiple offers, you can attempt selling the home at or slightly below market value and then selecting the most attractive offer among them.

6. Consider your leasing options

A “back rent” agreement with the buyer of your present house is a possibility you might want to consider. Homeowners frequently require additional time after closing to either relocate or find a new residence. Moving into a rental property before making a final decision is another possibility. For those going to a new city, this technique is typical because they don’t have much time to buy a house first. It’s best to find a single-family home if you can sign a month-to-month lease. It’s best to advise your landlord or leasing agency upfront if you plan to vacate the property after a certain period. As a result, your options may be limited, and the monthly charge may be increased. It’s better than breaking a 12-month lease and incurring fees.

7. Prepare for the move

You’ll have a long checklist for your residential move when buying and selling a house at the same time. With a bit of forethought and organization, you’ll be able to do everything and still have time to unwind. Make sure you list everything you need to do and take one step at a time to avoid unnecessary stress. You might also want to do a pre-move and post-move checklist. Detailed planning can make all the difference! If you organize your move well, you won’t be too stressed out to enjoy this huge step in your life.

8. Mind the curb

Everyone, including potential homebuyers, will want to see what’s inside if the outside creates a good first impression. On a day, week or month, you can make significant changes. One of the most effective methods to improve the look of your home’s exterior is to add some lush greenery. Plant some flowers and trim the grass in front of your house. Paint your fence, replace the shabby mailbox with a shiny new one, and make your home look pristine from the outside! This is a failproof way of attracting potential buyers to your property.

Closing words

Buying and selling a house should always be a very gratifying experience, even if it is a challenging process. If you work with reputable professionals, it will be easier to do this with less risk and difficulties. Check to see that you are well-prepared and have lots of patience. And remember to keep a positive attitude! Best of luck with your relocation!
Meta description: Buying and selling a house at the same time can be a hard and scary process. These tips will help you to skip the stress and get right to success!

Photos used:
https://unsplash.com/photos/rgJ1J8SDEAY
https://unsplash.com/photos/OtXADkUh3-I
https://unsplash.com/photos/eBWzFKahEaU
https://unsplash.com/photos/uOYak90r4L0

May
03

Turning Your Home’s Garage into the Ideal Home Office in 5 Easy and Creative Steps

If you’re a remote worker needing a dedicated space to get your work done, you may be able to create your ideal home office in an unexpected space – your garage! Although your garage might be the last place that crossed your mind to use as an office, the fact of the matter is you can easily adapt your current garage for your work needs. Whether you’re based in Naperville, Illinois, or Bakersfield, California, you can adjust your garage in just five quick steps.

1. Make Sure Your Space Contains Functional Storage and a Practical Work Area
One of the first steps to take when converting your garage into an office is making sure it’s functional for your work. This generally means establishing a designated work area and installing storage space.

For example, you could build shelves into the wall to keep materials organized. You may also want to place your desk and work supplies in a well-lit corner.

2. Insulate the Garage Properly and Bring in Natural Light for Your Own Comfort
According to one study, getting enough natural light during the workday is the key to avoiding stress, frustration, and work-related headaches. If you have the budget for it, you may want to renovate your garage to ensure it’s a comfortable and supportive physical environment. For instance, you may wish to:
• Install larger windows
• Insulate the garage to keep out the heat or cold
• Install air conditioning or central heating

3. Spruce Up Your Garage’s Wall Space to Add an Aesthetic and Practical Touch
Although your main focus when converting the garage may not be on what to do with the empty wall space, sprucing up your walls can make a major difference for both the aesthetics of the garage and even its practical value. For instance, you could paint the walls for a quick visual overhaul. You could also hang up practical charts relating to your job, or other helpful visuals, such as a world map, to create a more https://www.bestar.ca/enhance-office-experience-8-ways-create-inviting-office/professional feel.

One easy option you shouldn’t overlook is putting up wallpaper. This route can be easily customized, and wallpaper may be surprisingly durable, classy, and attractive in its design. If you’ve never worked with wallpaper before, you may want to go the peel-and-stick route. This unique wallpaper type is repositionable and can even be taken down with minimal effort. If you want to up the stakes and create a luxurious feel in your office, opt for grasscloth wallpaper for your home for a rich, elegant look and a pleasing texture.

4. Create a High-Tech Workspace by Upgrading to a Few Modern Amenities
For a true home office feel, having some high-tech, modern workplace amenities is essential. Depending on what your budget will allow, you may wish to rewire your garage to include a few pieces of tech. These could include:
• A built-in webcam
• Dual monitors
• A standing desk
• Built-in loudspeakers

5. Keep Your Garage Clean by Decluttering at Least Once a Month
Lastly, if you’re like most people, there’s a good chance that your garage is currently mostly used as storage space. A once-monthly cleaning and decluttering session can help you maintain a professional office feel. You should:
• Dust off your office furniture
• Clean up clutter from the floors
• Run the vacuum

If you work at home and you need dedicated office space, look no further than your own garage. This unlikely space could be transformed into the ideal home office in just a few easy and creative steps.

Feb
16

How to Manage Moving Houses While Starting a New Business

As an entrepreneur, if you currently live in a home that prevents you from having the space and amenities for effectively managing your business, your best choice is to move. At Bill White Homes, we understand that the thought of moving while planning to start a business can sound daunting. In this article, we go through some tried and tested ways through which entrepreneurs like you have been able to seamlessly manage the two.

Home Features to Look For

Buying a home is a long-term investment that should cater to your present and future needs. When shortlisting options for your new home, focus on the following features:

Bedrooms: Do you plan to welcome a newborn or a senior loved one into your home in the coming years? If yes, then look for homes that have multiple bedrooms. Alternatively you can use the extra rooms as storage or convert them into a studio catering to your business needs.

Home Office: Homes with an existing office will help overcome the time and effort you’ll need to invest into creating one post-move, allowing you to begin work right away.

Outdoor Space: As reported by Thrive Global, an exterior space in your home helps to reduce stress by serving as a place to disconnect from work-related stressors and challenges.

Manage Timelines

Starting a business and moving houses requires systematic planning and execution. As you are trying to juggle both of these together, it’s best to create a list of set timelines with objectives to meet as follows:

9 Months Before Moving

Start shortlisting locations which provide the best balance between your personal and work needs, such as low business tax, thriving local economy, proximity to amenities, etc. Once you have your requirements in place, hire a real estate agent like Bill White to do the leg work for you, regarding finding properties that fit your criteria. As for your business, begin the process of applying for licenses and permits, which can take a few weeks to months to be granted.

6 Months Before Moving

This is when you should choose the appropriate business entity such as a Limited Liability Company (LLC) and apply for registration. Additionally, as reported by Zenbusiness, small business owners should also apply for a “doing business as” name, which enables them to sell products under unique brand names.

Start narrowing your home search as well by visiting houses and shortlisting those you like. If you plan to take a loan, opt to get pre-approved as it’ll help convince buyers to choose you over others and lead to quick disbursement of funds.

3 Months Before Moving

By this time, all legalities pertaining to your business should be in order. Additionally, you should finalize a home, make an offer, and start the closing procedures. With a set moving date in mind, you start hiring professionals to meet your moving and business needs:

● Movers: Delegate the stress of packing and transporting goods onto professional movers, providing you the time to focus on starting your business.

● Accountant: A skilled accountant can help create accurate business projections and other financial statements, which you can use to pitch your business to investors and secure funding.

● Digital Marketer: Having a digital marketer on your team enables you to create a solid social media strategy to put your new business on the map, generate interest from consumers and start making sales from the get-go.

Following the above-mentioned steps will help you find the perfect home catering to your personal and professional needs while allowing you to stay on top of all important responsibilities regarding launching your business.