Buying Property as a Freelancer? 5 Things to Know

Whether you’re buying your first home, upgrading to a larger property, or downsizing after your kids have moved out, it can take time to locate your dream home. If you’re a freelancer or someone who works from home, there’s even more to consider. To help in that regard, take a look at these five things you need to know when you’re buying property as a freelancer.

Photo of a home office
Image by Rudy and Peter Skitterians

You may have a clear idea about the type of property you can see yourself living in. Or you might still be searching for inspiration but, either way, it’s important not to rush your decision. Think about these topics while you house hunt.

1. Plan Your Home Office

Most freelancers work from home. This means you’re going to need to create a productive and comfortable workspace within your new property. There’s a lot to factor in when you’re designing a home office setup, but moving to a new property gives you a great opportunity to create your own unique working environment from scratch.

To figure out how to get started, take a look at this informative blog post from Branch and find out what you need from your home office setup. Think ergonomic furniture, accessories, and storage options. This will make it easier to furnish your new home office. Try out their online office designer which allows you to create a chic workspace in minutes.

2. Check the Cell Service and Internet Connections

It’s easy to assume that everywhere in the U.S. has great cell service and stable internet connections. But this simply isn’t the case. In fact, more than 42 million Americans don’t have access to high-speed internet. This makes working from home virtually impossible.

Homes that don’t have a high-speed internet connection are most often in rural areas. But when buying property as a freelancer, internet speeds are critical. Chances are this will steer you towards larger towns or cities. 

Having cables laid for high-speed internet connections can be costly. So check whether your potential future home is already connected before you write any offers. Similarly, test out your cell signal while viewing properties. That way you’ll have info on which homes perform better than others. 

3. Get Your Mortgage Pre-approved

Being pre-approved for a mortgage is advantageous for any homebuyer. Simply stated, it speeds up the process. For freelancers and self-employed workers, however, pre-approval can have a significant impact on your ability to buy a new home. 

If you’re a self-employed freelancer or you want your side hustle income to be taken into account when applying for a home loan, it may take you longer to secure a mortgage. This is because banks can be reluctant to lend to people who are self-employed. Shopping lenders is always smart but plan for it to take a bit longer if you’re self-employed. 

Don’t wait until you find a home before starting this process. With pre-approval, you can a portion of the work done upfront, then focus on finding the perfect house. 

4. Consider Noise Pollution

When you’re working from home, noise disturbances can have a considerable impact on your productivity. If you’re purchasing a home close to a busy road or near to a playground, you’ll need to determine whether your work will be affected by external noise. Is it a deal-breaker? Or can you work around it? Upgrading to triple-paned windows can help but they come at a price. 

However, noise disturbances don’t always come from outside. If other people will be at home during your working hours, you’ll need to determine how noise travels through the house. Where will your home office be located in relation to the noisier parts of the house? Essentially, you want some isolation from the rest of the home. Otherwise, it could be a sign that it’s not the right property for you. 

5. Look for Outside Space

If you’re working from home on a full-time basis, it doesn’t take too long for your environment to start feeling a little claustrophobic. Taking regular breaks and getting outside is a good way to boost your mood and maximize your health.

So be sure to look for a property with easy access to outdoor space. Even if you don’t have your own yard or patio, choosing a property that’s suited near a park or open space will ensure that you can take breaks throughout the day and enjoy the fresh air. 

Finding Your New Home – and Office

As the number of freelancers in the U.S. continues to grow, an increasing number of people are buying property as a freelancer. If this is you, then your home doubles as your workplace. By figuring out exactly what you need from your new property at the outset, you can create a list of ‘must-have’ features and find your dream property quicker than you think.