Need Home Compatible with Family and Business?

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Real Estate


Outgrowing your first home is normal. Many families begin to outgrow their house after a few years. As an entrepreneur, you may grow out of your home even faster. After all, you require space for both your family and your business. 

Finding the right home might seem daunting at first, but, as long as you know where your priorities are, you can narrow down your options. Let Realty and Associates guide you through the process, beginning with these essential tips: 

Deciding You’ve Outgrown Your Home

As the years pass, your family changes. You may have more kids, you’ve added a dog and a fish tank, and you maybe decided it’s time for a career change or the space is just too tight. Look around your house and ask yourself if it is compatible with your family’s needs

If you moved into the house before you were married or before you had children, you might not have planned enough bedrooms for your growing family, much less a growing business. Think about how many kids you have, compared to how many bedrooms you have. Is there enough room? Do you feel like you are constantly tripping over toys because there isn’t enough space in the house to fit everything?

For a lot of families, a big indicator that it is time to upsize is shrinking storage space. If you have a garage, it should not be filled with old furniture and boxes full of items that you’d rather have in the house. Similarly, if you can’t have time alone to work, conduct meetings in peace and quiet, or you don’t have space to meet with clients or make your product, it’s time to expand. 

You also might need a better situation for your family’s comfort. Maybe your craft is a messy, noisy or smelly one, and an outbuilding would allow you to work with chemicals, equipment and supplies that won’t bother your family. Maybe you meet clients in your office and need a separate entrance, restroom and parking for them so your family can have privacy. Consider all the angles and how they will affect your decision-making. 

Buying Your New Home

Every big investment should begin with a budget; a new home is no exception. Your budget should include the down payment, the monthly payment, property taxes, home repair and bills. Also, you need to consider the appliances or furniture that you don’t already own, and if you need to hire contractors to modify the space, some estimates will help you tally realistic numbers. 

Once you have a budget, it’s time to shop around. Start by getting a feel for the market in the area where you’re looking. For instance, St. Louis is a very competitive market, with average homes going pending in just 19 days, and hot homes pending in just 5 days. This tells you that you should partner with a real estate agent professional very early in the process, as they can provide insights into new properties coming available that might be perfect for your needs. Plus, when the right home comes along, you’ll have them at your disposal to help ensure a smooth transaction.


Set Up for Success

While a practical budget is critical for your home buying success, you also need to consider the protection of your assets. With that in mind, as an entrepreneur, you may want to form an LLC. An LLC offers limited liability, flexibility for a growing company, and certain tax advantages. Because all states have different regulations, it’s important to check your state’s rules first. If you use a formation service, you can ensure you’re set up properly while avoiding costly lawyer fees. 

As you start your search for your dream home, keep in mind the priorities for your family and your business. If you have a list of features, a budget in mind and a clear goal for your new home, you’ll give your real estate professional more to work with—and give yourself the advantages of their insights. Be sure to connect with Realty and Associates early in the process for the best possible home buying experience.