What’s your hobby? Do you like collecting old sports paraphernalia? Making bead art? Brewing your own kombucha? Building miniature homes and coming up with stories for the mini occupant’s lives? Regardless of your interests, they take up space; some more than others. Maybe you’d like to turn your hobby into a business, but it’s already taken over your home and you don’t have the money to lease the space. Or maybe you’d like to start a hobby, but you don’t have the space for it. There are a few options available that can help you expand your home to be more workable for you.

I have some tips on what to add to your checklist if you’re currently looking for a home and what to do if you don’t want to get a new home but need to expand.

If you’re on the prowl for a home…

We’ve talked in past blogs about how you should look further than skin-deep at homes when you’re shopping around. It seems obvious, but it’s easy to be taken away by appearances. Haven’t we all?

Let’s say you have a hobby or want to start a hobby that goes beyond something basic like a home office; a home gym, for example. What kind of equipment do you have or want to put in there? Are the walls suitable to put up mirrors to watch your form? What about space for equipment storage? There’s a lot to think about other than where you’ll put your treadmill and yoga mat.

Maybe you have your own home brewery setup – I’m sure your family would appreciate the kitchen no longer being dominated by brewing equipment. Having extra garage space might be something to add to your list.

If you’re interested in turning your hobby into a business, make sure to check what permits or licenses you might need in the area(s) you’re shopping in to conduct business out of your home. It’ll probably help your narrow your search as well.

If you’re craving some extra space…

So you love the home you already have, but it’s no longer capable of supporting your hobby. For instance, let’s say you really love hairdressing and started out doing your family’s and friend’s hair for fun, but now you’ve built up a larger clientele list and you’re thinking about striking out on your own. You’ll probably need more space, more outlets and a sink or two put in, at the very least. All these involve knocking down walls, installing more piping and rewiring the electric; not something you can just DIY.

If you’re in a similar boat and your hobby has potential to bring in some considerable cash, you should seriously consider expanding your home – as in a renovation. Of course, not everyone has the money to renovate, but there is a solution. Refinancing your loan, specifically a cash-out refinance, is a good option to look into. You can use the difference from the refinance to do a lot of things, including remodeling your home. As I said in the previous section, if you’re wanting to turn your hobby into a business, make sure to check what permits or licenses you need in that area to have a home business.

For whatever your passion or what you’re looking for, your Flat Branchers are here to help. Your goals are important to us. Reach out to your local Flat Branch to learn more!

Making Room for Your Passion