Brooklyn News & Real Estate Trends 

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 13, 2021

Bedroom to Boardroom: How to Get Your Home Business-Ready

Bedroom to Boardroom: How to Get Your Home Business-Ready

 

 

As remote working becomes increasingly normalized, millions of Americans are carving out space in the house where they can work productively, file paperwork, and stage video calls. From redesigns to renovations, there are now plenty of options available to homeowners, and the time is right to embrace the home office.

 

Redesigning the Office

 

The cheapest, easiest option for those with existing home offices is simply to redesign. This can be as simple as rearranging furniture or as elaborate as repainting the walls. A redesign, for no major cost, can transform a stale storage area into a working haven. Just remember, whatever you have in mind, it’s important to have a clear idea of your spatial and storage requirements.

 

To meet your criteria, you’ll want to review your available furniture. Purchasing new office movables can be expensive and add to clutter, and it’s not always possible to get exactly what you need.

 

Sometimes, the better option is to repurpose existing furniture. This often gives you more control over the shape and appearance of the item. You can easily find local reupholstery services online. But remember, before you hire anyone to restore an item of furniture, it’s important to check reviews and carry out background checks in order to avoid any potential scams. You can also call directly and get a quote to ensure that you’re comfortable with pricing. The cost of service is usually dependent on item size, fabric, and any custom specifications.

 

Making Renovations

 

A step up from redesigning, renovations (or modernizations) can completely transform the potential of your home for business. This is a costlier option and, before you do anything drastic, it’s worth going through the usual precautions - taking measurements, calculating costs, and consulting with the appropriate experts. You may even be able to deduct the cost of repairing an office space from your federal tax return - although this will depend upon the scope of the work you plan to have done.

 

When deciding upon which changes you want to make, you should consider how these might affect your work productivity. For example, good light can have a significant effect on efficiency and, therefore, you may want to have new windows installed or to situate your office in a bright room. You may also find that business has taken off to such an extent that you need extra space to work. If that’s the case, you could consider knocking down walls to expand your workspace or erecting them to protect yourself from the distracting noise of the kitchen/living room.

 

Buying a New Home

 

Working from home means spending more time at home, and you might want to take seriously the prospect of transitioning to a property that better accommodates your new professional reality. Estimates show that a home office can increase the worth of a property by 10% so bear in mind that you may be required to pay extra for the privilege. A good ethos is, rather than shopping for a property with a designated office space, look for ones with extra space in general. Living rooms, bedrooms and sometimes even garden sheds can often be converted into excellent workstations.

 

Another key business consideration is the location of your next property. Although physical distance plays a smaller role in the ongoings of business, you’ll still want to factor in broadband connection, being within range of suppliers, distance from the CBD, and proximity to clients - in addition to any personal or familial amenities, such as schools. It can be easy to get carried away with the liberation of remote working, but you should take precautions not to isolate yourself too extremely from the rest of the business ecosystem.

 

Ultimately, for those working under flexible conditions, the home office is deserving of your time and consideration. Deciding how you’re going to develop your space is key for long-term earnings and healthier work life. Century 21 MK Realty can help you find your next property. Start your search today! (718) 627-7390

 

Image by Pexels

 

Tina Martin stays busy as a life coach and works hard to help herself and her clients achieve a healthy work-life balance. She started Ideaspired as a side project to reach as many people as possible and encourage them to put their dreams first.

July 14, 2021

Managing Your First Rental Property

Photo via Rawpixel

 

Managing Your First Rental Property:
Helpful Resources for Getting Started

 

Ready to manage a rental property? Buying a home, conducting market research, and maintaining a rental can be a little overwhelming, especially if you’re completely new to real estate. Try not to let the complicated details scare you away from developing a lucrative rental business! Whether you want to run a short-term or long-term rental, use the following resources to help you get your bearings, and be sure to contact Century 21 MK Realty to help you find the right property!

 

Buy and Fix Up a Home

Purchasing a home and fixing it up are the first steps involved in managing a rental property.

 

3 Tips on How to Choose a Rental Property

Search Online for Potential Properties and Contact Melanie Kishk to Set Up Home Tours

Investment And Rental Property Mortgage Rates: How Much More Will You Pay?

 

Do Market Research

Conducting market research will help you learn about the demographics in your area and come up with realistic rental rates.

 

How To Do A Real Estate Market Analysis Like a Pro

7 Real Estate Demographic Factors That Determine a Successful Investment

How Your Investment Property Can Compete in the Rental Market

 

Hire Help

Having the right people on your team will make your life a lot easier when it comes to managing your rental property.

 

Make Your Job as a Landlord Easier With the Help of a Property Management Team

Vacation Rental 101: Housekeeping

How to Hire a Handyman for Rental Property

 

Avoid Common Mistakes

From making emotional decisions to letting rentals sit empty for too long, rental property owners can fall victim to costly mistakes.

 

Real Estate Realities: Grasping Property Investing Success by Letting Your Emotions Go

How Long is Too Long? Dealing With Vacant Rental Properties

Guide to How to File Online to Form Your Own Limited Liability Company in New York

 

Investing in a rental property can be a rewarding business venture. Be prepared to do plenty of work as you look for the perfect property, finance your big purchase, and turn it into a livable space. Remember, it may take some time to build personal wealth using your rental. As long as you can stay organized and motivated, you’re bound to be a great landlord!

July 13, 2021

Read This Before You Dive Into a Home Purchase