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My wife and I purchased a new home, but rather than sell our current one, we were considering converting it to a studio for our small business. It would not be retail space, rather office space for our graphic design business. We have no employees, its just the two of us basically. There would be no regular foot traffic and no signage necessary or anything of the sort.
Is this possible without having it re-zoned commercial? Because we may end up a year from now wanting to sell it outright. We're kind of stuck in making a decision here. Or perhaps we can put a bed and such over there and call it a second home?
I'm just unsure of what would be best and what's legal and what sort of impact that would have on the type of insurance policy. We don't pay a mortgage on the property, its owned outright, but we do have a small home equity line of credit that the house is collateral for.
I'm sure there's probably a clear answer here, but I don't know what it is and would look forward to your advice. Thank you for your time.
It should not be a problem.
You may want to check with your town office.
But seeing as you are only running a home office for residents use only,I don't see what the problem is.
That's why I like Maine,here a person can even get a home kitchen license to prepare certain foods for sale.
Keyword being home.
Make sure the professionals you consult review the tax consequences and how that will impact your borrowing power. Pay attention to the different nuances - then once you get the recommendations from the attorney and the accountant, consult someone in mortgage banking........those two may set you up with the best intentions, only to find out you can't get a mortgage.
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New Orleans
