[Elizabeth]

A question in my mind that needs inspiration..

[Kyley]

House- banks HATE self employed people and you would struggle to get a mortgage without paystubs – I’ve been self employed for over 15 + years with multiple businesses and am in Canada. Once you get a house you can run your business in your house, collateral your house, and just peace of mind that if business tanks you have a roof over your family 🤗 just my 2 cents.

[Valerie]

If you buy a house in a business zone that has 2 floors, you could live on the top floor and have a business on the first floor.

[Trish]

You can use your house as a tax write off for self employment and other expenses.

On the IRS website they have all the rules for write offs now. Just be sure to use the .gov website.

Good luck!!

[Diane]

What is best means you first have to define best for who? Where is this person at in life (age, martial status/family life, current talents, experience, etc.) Does this person have current debts? What assets are available?

A business can sometimes travel meaning it can be done in places that exceeds the distance or use of a home. A home builds equity (one, I wouldn’t suggest be used against to build a business). But, if the living situation now is stable and predictable and dependable and a business has capacity for success that would make the home-buying option easier or faster to obtain, then I would use these questions to factor in any decision.

[Katie]

House. A lot of self employed individuals struggle to get a loan for a mortgage in the early years of their business and it can be difficult to get it done. Great idea to own, build equity, and then start the biz.

[Anna]

A house you can section off as a business. My finance is currently booking short term rentals out of his space to make some extra money without having roommates. He keeps all his stuff upstairs and locked away so he only needs to clean the main floor.

[Author]

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