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Living above your office...? |
I was thinking about, when I build my new office space (a decent sized building, good looking) whether I should save money by putting my apartment above the office. It would be conveneient, cost effective, and would simplify my life. I don't need a HUGE space, just enough space to live comfortably. You may consider looking at the local building codes, this is not allowed in many major cities(usual found in fire code or under occupancy code. You may consider looking at insurablity also, many insurance companies do not want to insure a building that is also used as livings quarters. You can take a federal tax deduction for operating your business out of your home. In general, you can deduct a portion of the rent and utilities that is proportional to the percentage of total living area your office comprises. Living above your office would make your commute very easy that is for sure! As one of the other answers brought up, you may run into problems having living quarters in an area designated for commercial. Have you thought about putting your office above and having one or two office spaces below that you can rent out? Just a thought! |
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