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How to Buy a Home for Your Personal and Professional Success

By Tina Martin

You have a killer idea for a home business and the funds to get things started, but you have realized that your current living space just won’t work for your business. Maybe it’s too small or your neighborhood isn’t zoned for commercial use. Whatever the issue, you need to find a new space that can accommodate your family and your business. Read these tips from NextHome to learn more.

Locate a Home You Can Customize

If you’re lucky or very patient, you may be able to find a ready-to-move-in home that is perfect for your family and your business needs. However, working with a skilled realtor from NextHome can help you find a home that can be affordably modified to match exactly what you need out of your living and working space.

Consider Buying “As Is”

Most of the time, when a seller puts a home on the market, the seller is responsible for making any repairs that would cause the home to fail an inspection. When a seller sells “as is,” the buyer is responsible for making repairs. The upside for the buyer is the potential significant savings on the purchase price. If you are already planning to make renovations to accommodate your home business, buying “as-is” is one way to boost your renovation budget by spending less on the purchase price.

Just be aware of the potential shortcomings involved with such a transaction, as well as how to go about completing the purchase in a manner that protects your interests. Not all problems are easy to spot. An “as-is” home might have pest infestations, hidden leaks, structural issues and more. You should always have a home inspection done before a purchase, but it’s particularly important to schedule a professional inspection for an “as-is” property and carefully review the seller’s disclosures.

Budget for Your Home Office Renovation

Fixr reports the average cost of a home office remodeling project is $66 per square foot, while a full addition will run around $300 per square foot. If you’re trying to set up an office on a budget, start by making a list of the things you have to have to conduct your business. Focus on those items and then consider any nice-to-haves if you have any wiggle room left in your budget.

As you weigh your considerations, think about things like special upgrades for your functionality, like ventilation, wiring, soundproofing, and so forth. Also think about whether you’ll meet clients at your home and if they will need a waiting area, restroom or parking. Storage might also be a concern, and whether or not delivery vehicles will come and go.

Protect Your Investment

You are going to pour a lot of time, money and energy into purchasing and renovating a space to accommodate your family and your business. Make sure you safeguard your investment by setting up your business as an LLC.

If your business becomes unable to pay its debts, as a sole proprietor, creditors can come after your personal assets. However, as an LLC, there are limited circumstances where creditors can pursue your personal assets. Additionally, LLCs come with some tax benefits and are easier to set up and more flexible than other business structures. The laws that govern LLCs vary by state, so consider using the cheapest formation service to ensure you get all of the paperwork right, without incurring the high fees an attorney might charge.

Additionally, check with your insurance professional to make sure you have the types and amounts of insurance you need to cover your home business and your renovation project. Standard homeowners insurance may not cover the unique risks associated with operating a home business or remodeling your home.

If your current living situation cannot accommodate your home business needs, the best solution may be to find a new home that can be renovated to custom fit your needs while staying within your budget. Connect with a skilled real estate professional from NextHome who can help you track down the right property at the right price. Give us a call today at (970) 507-8655.

A special Thank You to Tina Martin, author of “Ideaspired” for writing this week’s blog post!

Congratulations!

Community / Fall / Featured Listing / General / Real Estate

231 Tiffany is SOLD!

Big congratulations to Chris and Mariana on the sale of their home! 231 Tiffany Place sold for $585,000 and features a fully finished basement and incredible views of Squaretop Mountain. The Letchfords have their home at 1551 Cattle Trail listed with us as well. See this beautiful ranch home here!

Sold!
Photo: 231 Tiffany Place
Sold!
Photo: 1551 Cattle Trail Place

Thank you Mariana & Chris for choosing NextHome Rocky Mountain Realty & Rentals to list your Pagosa Springs real estate! We appreciate your business and friendship! If you would also like to work with NextHome RMR, give us a call at (970) 507-8655.

Congratulations!

Community / General / Real Estate

Congrats to Launie & Teresa Anderson!

NextHome RMR is proud to have sold not 1, but 2 of your properties this past week! The Andersons also got a new property put under contract to purchase. Launie & Teresa have purchased 4 properties through Britney Chaisson and this new one will make #5. They have also used our Property management division to manage their properties as rentals in Pagosa.

Congratulations

Congratulations
Congratulations

Congrats again and thank you for your loyalty to NextHome Rocky Mountain Realty & Rentals!

Home Staging Tips

Entertainment / General / Real Estate

Staging Your Home

Staging is an important step in preparing your home to sell. It is a method of decorating that highlights your home’s best features to potential buyers. In this post, we’ve put together some of the best tips for staging your home!

Home Staging in Pagosa Springs

  1. Get Rid Of Clutter: This one is fairly easy. Clutter takes up space, and space is what you are trying to sell! Storing the things you don’t use regularly or that take up a lot of space can make your home appear larger to potential buyers. Remember to clear out closets if possible, as buyers will want to see how much room they have.
  2. Stage Where You Need To: Typically, buyers are most interested in the master bedroom, kitchen, and living room. Staging these areas well is more important than staging additional bedrooms and bathrooms, as they will receive the most attention.
  3. Repairs and Patches: If there are nail holes and scuffed walls in the house, many will assume the home has been neglected. We recommend walking through the house with an eraser pad to get rid of all the marks and scuffs on the walls. You can also fill nail holes and touch up paint as needed. Potential buyers will appreciate the extra effort put in to maintaining the home.
  4. Make a Good Impression: The first thing a buyer sees as they walk up to the house is the front entrance. You want to make the best impression possible here! Remove seasonal decorations, as they can make the listing look dated in photos. If you have a front stoop or porch, consider power-washing it to remove any dirt or stains there may be. You can also add a doormat and some potted plants for curb appeal.
  5. Lighting: People like well-lit rooms, so turn on the lights and open all the blinds! Open windows can make your space seem bigger, but be sure whatever is on the other side of the windows is clean and tidy.
  6. Clean Up: You will want to clean like you’ve never cleaned before! Scrub from floor to ceiling; a clean home suggests you took great care in maintaining your home. Potential buyers will notice this!
  7. De-Personalize Your Space: Potential buyers want to be able to imagine the space as their own. Removing items like family photos, visible personal items (such as toiletries, clothes, etc.,) and refrigerator magnets is recommended. This turns your home into a “blank canvas” for potential buyers!
  8. Rearrange Furniture: Open floor-space and walk-able paths throughout the house can make it seem much larger. They also help potential buyers envision where their furniture can go in the home. If you have furniture that doesn’t match the rest of the room, or doesn’t fit, we recommend storing it.

Home staging is a great way to make your home more appealing to potential buyers. You want to present your home in a way that shows off it’s best features; and allows potential buyers to imagine it as their own.

These tips are just a few ways that you can make your home really stand out from the rest of the crowd! If you need some inspiration, you can view our currently listed homes here!

New Long Term Rental

General

99 Carefree Rental

We have a new long-term rental available! Located in central Pagosa Springs, this ranch style home is perfect for you to keep warm this winter.

99 Carefree Long Term Rental

You will have access to all Pagosa Lakes amenities. This includes access to the Rec. Center (with indoor saltwater pool, weight room, and exercise classes,) as well as the stocked fishing lakes!  This home is available now, with the lease ending on June 30th, 2021. Please feel free to contact us for more information on this great rental.