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Buying a home with business in mind? Be cautious

On Behalf of | Mar 22, 2022 | Real Estate

If you run a small business and have thought about purchasing a home that you could run the business out of, you need to be cautious about how you proceed. Depending on the kind of business you run and the activities that go on there, you may not be able to use a residential property for business purposes.

There are different zoning laws that impact how properties can be used. For example, if a neighborhood is zoned for both commercial and residential properties, you may be able to use your home for both. However, if the neighborhood is only for residential properties, running a restaurant or other service from home may not be legal.

Always check the property’s zoning rules

Before you purchase a property, it is important to check the zoning. Even if there is already a business being run on the property, you can never be too safe. The problem with assuming that you’ll be able to run your business is that the other party may have been grandfathered into using the property for their business or, in some cases, using the property the wrong way under the local government’s radar.

To avoid a problem, it’s up to you to check on the property’s uses and if it will work for you.

What can you do if you are sold a property that can’t be used the way you thought?

In some cases, you may be able to back out of a sale or take the seller to court if you were sold a property that you thought would be able to be used as a business but cannot be. For instance, if the property has residential features but you actually cannot use it as a home, you may have a case if you were led to believe that both businesses and residences could be present there.

Real estate can be tricky, which is why it’s so important to have someone on your team who can help. The right help when you’re looking for a property may prevent issues with your business or personal use of the property later on.