If you’re getting ready to buy a second home so that you can be closer to another branch of your business, get ready to balance lots of moving parts. Today’s tips can help you manage dual-state living as seamlessly as you’ve tackled remote business ownership.
Hire a great realtor and home inspector.
Your realtor and home inspector are important partners during your home purchasing journey, especially if you’re moving in from out of state. They will help you save money and make the most informed decision possible.
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Focus on your family’s safety and comfort.
While your focus may be on your business, don’t forget to ensure that your family is safe and comfortable in your new home. A few smart ways to do this are to research different products by reading reviews on everything you buy from an unbiased resource. You can also invest in a portable security system.
Home Security System Buying Guide
Save money on things that are cheaper in one state versus the other.
Saving money is paramount to having a successful business until you explode to the point where the bankroll is no longer a concern. If you’re looking to save money, you’ll need to consider staying organized and hiring a great staff in each location.
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Make business decisions early.
There are several decisions that you’ll need to make for your business as early as possible. These include designating a registered agent and whether or not you will take on outside investors. Keep in mind that your designated agent should be chosen carefully, as this is the person that will make decisions on your behalf and handle legal or financial matters when you’re away.
How To Choose A Registered Agent
What You Need To Know Before You Take On An Investor For Your Business
The Cost of Living in Different States
Something many people don’t consider when they split their time between states is that the cost of living is different from one location to the next. A few costs you should be aware of include:
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Self-storage. You’ll find Denver storage options that range from almost $200 per month to less than $60 per month.
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Driving. There is much more to the cost of driving a vehicle than simply its retail price, gas, and insurance. You also have upkeep and maintenance as well as county and city taxes. In Providence, Rhode Island, you’ll spend around $3029 per year on vehicle ownership.
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Housing. If you’re planning a move to Anchorage, you can expect to spend an average of $413,723 for a home. Keep in mind that the market fluctuates often, so this number could go up or down at any time.
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Medical care. As an entrepreneur, you may not have insurance. Know your healthcare costs, which are the cheapest in Florence, Alabama.
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Rentals. If you have yet to purchase a home in your new part-time hometown, you may need to rent. Chances are good that you want to avoid California if budget is a concern. The average rent in cities, such as Santa Monica, can easily hit the $4000 per month mark.
Ultimately, living and working from two states doesn’t have to be a hassle. With the tips above, including hiring a designated agent and knowing the cost of common things, like a storage unit or housing, you’ll soon settle in and start earning a profit, no matter where you are.
Do you want more content to help you make a better buying decision? Contact Home Inspections Cost let us know what you’d like to read.
Article Courtesy of Kristin Louis of Parentingwithkris.com