Image by Gregory Han via flickr.com

Setting up your home office is no different than setting up any other business.  If you don’t have the right tools and equipment then you’re going to make things much harder on yourself than they need to be.

Here’s a good checklist to use to make sure you have all of the things you will need to make your home office a place that makes you money.

Reliable, Fast Computer

This is the nerve center of your home business.  Everything you do will involve your computer in one way or another.  You need to make sure it is capable of running today’s sophisticated software programs with speed to spare.  Also that it has plenty of storage for both documents along with photographs and videos.

Dual Monitors

There is too much information out there on the web to try and see it all on one screen.  Many times you are researching one document while writing another. Or watching a podcast while making notes on a spreadsheet.  Trying to do this all on one monitor is beyond frustrating.  Save yourself the headache and get a good pair of monitors.  The prices on monitors have dropped that you can now get two for the same price that one would have cost you just a short time ago.

Computer Speakers

It pretty much goes without saying that we live in a multimedia world.  Everything online now not only has video buy audio as well.  The only way you’re going to hear it is with a good set of desktop speakers.  They don’t have to be top of the line but you also don’t want ones that are going to sound tinny or rattle on your desk if the volume is turned up.

Wireless Keyboard and Mouse

You really don’t know how important these are until you start using them.  I love being able to move my keyboard all around my desk and still be able to type away.  Or sit back and put it in my lap and type from a comfortable reclined position.  And having a mouse that can go anywhere without being tied down gives you more room on your desktop and less cables.

Comfortable Headset with Noise Canceling Microphone

This falls under the same category as the wireless keyboard and mouse, except this is much more important.  So much business today is done through VOIP. (Voice Over Internet Protocol). This is the feature that lets you talk and surf the web at the same time using your internet connection.  It allows programs like Skype to connect people from all over the globe using nothing more than their internet connection and yet they can see and talk to each other.  Having a good headset and noise canceling microphone is a must for using any of these online communication services.

Surge Protector

All of your equipment is at risk from the smallest spark of static electricity in your lines if you do not have a surge protector.  I recommend getting one that also has a battery backup.  That way if your power surges not only is your computer protected but you’ll have time to save your work and power off your computer properly.

Color Printer

This goes along with the same train of thought as desktop speakers.  Not only is the world multimedia but it’s only in living color!  To be successful you are going to need to be able to share your thoughts, ideas and business proposals with others using eye catching colors and graphics.  Having a good color printer is the only way to go.

Laptop or Tablet Computer

While not so much a necessity, these items just make your life a whole lot easier.  Laptops let your work anywhere you like.  Most laptops today have as much computing power as a comparable desktop.  And tablet computers like the iPad make taking your work on the road much more convenient.  You can download a document or article you want to read onto your tablet and take it with you anywhere.

High Speed Internet Connection and Modem

Most of today’s websites incorporate video as part of their content.  Video requires a ton of bandwidth to watch without it getting all choppy.  Because of this you are going to want to get a mid-range high speed internet connection.  Broadband speeds have come a long way over the past few years and what used to be top speed and highly expensive is now considered mid-level and very affordable.  Along with broadband you are going to want a modem that can handle the increased amount of data that will be coming into and going out of your home.  If your modem is not up to par, then a data “bottleneck” will happen and you’ll see parts of your home network slowing down or crashing.

Daniel Doran is a 20+ year veteran in the real estate industry. He is a previous owner of a law firm, mortgage and title company. Daniel has also written several books on mortgage modification, short sales and real estate investing. He currently specializes in Commercial Finance and Real Estate Development and is a graduate of Manhattanville College and Brooklyn Law School. You can contact Dan at Buildings By Owner.

Image courtesy of Tyler Ingram via Flickr.com

It is difficult to say the least to accomplish these goals without a dedicated work space, but finding that space in an already cramped home can seem impossible. Consider the following tips for creating a functional work station without taking over an entire room.

The Newly Functional Closet

If you have a spare bedroom in your home chances are that the closet is a somewhat wasted space. We commonly store old winter coats, small rarely used appliances or sporting equipment in space like this. With just a little bit of objectivity you can probably either get rid of many of these items or move them to another location in your home thus opening up a brand new office space that you’ve probably never considered.

By installing a fairly simple shelf that measures roughly the width of the interior of the closet and some storage compartments along the interior back wall you can quickly, easily and relatively cheaply formulate a functional office space that doesn’t take up an extra ounce of square footage. Still don’t have quite enough space? Consider installing racks or a handy memo board on the interior of the closet door itself to further utilize every available inch of space.

To make the space your own and decrease the feel of “I’m working in a closet” consider adding decorative touches such as wallpaper to the interior walls of the closet and a more ornate light fixture. Look here for more tips on turning your least-used closet into your most prized work space.

Compact Hide-A-Way

No matter how cramped your living situation chances are that you have a piece of unused wall somewhere in your home. You can use even the smallest of spaces to add a piece of furniture that can double as your work station. This is most easily done using a small, old fashioned desk that more or less closes in on itself to reserve space when it’s not in use. This type of small desk can be placed behind a sofa, in a corner or even in a wide foyer and be put to use only when needed, thus leaving the rest of your space in it’s normal function the rest of the time.

Working from home is a great option for many Americans because it requires little to no start up expense and offers an alternative to those having trouble finding work in their area. But without organization and a dedicated work space your small work-from-home endeavor can quickly become unmanageable and unsuccessful. By creating a personalized workspace you can both feel professional and help to ensure your success.

You don’t have to live in Tornado Alley to have your life blown away. There are many more pitfalls today’s property owners have to evade somehow. Can you afford NOT to understand them all? You may also find that revisiting your homeowner’s policy saves you premiums, at a time when every penny can count too.

Let’s take a look at ten really good reasons you may want to look over your homeowner’s insurance policy.

1. Put simply, you simply have more things to ensure than you did before. The attic is full, the garage overflowing, and many of the new purchases may, or may not, be covered for all eventualities. Also, the value of your home’s contents has in all liklihood, gone up. Add to this the fact that the entire policy payout may not be enough to cover new items, the higher total value of your possessions and even the home, and you have a problem. Conversely, your situation may have changed in the opposite direction. Maybe the kids moved out, you decided to simplify, you simply do not need as much coverage as before. Whichever situation exists, you may be vulnerable to losing lots of money. The best way to determine this is with an inventory of your home, and an evaluation of your existing coverage.
2. You say you just remodeled? Just adding a new bath or kitchen upgrade impacts the value of your home significantly. Take today’s cost of remodeling, materials, and so on, and your homeowner’s insurance could be thousands off where replacements are concerned.
3. Rebuilding costs are up. The market value of your home is sometimes drastically different from the cost you will incur to replace it. The “real value” of the property is what you will be paying for if you have to rebuild, not the land and 2 x 4′s bought back when. This simply concept escapes many homeowners when they think about buying insurance, and especially after they have had insurance for a long time.
4. You’ve installed safety devices. Most insurance companies offer discounts when you add alarms, sprinklers, and other devices that protect your home.
5. Big ticket items like jewelry or even hi end electronics are sometimes excluded in some policies. Even if a policy has provisions for you getting a windfall and buying your spouse the crown jewels, the value of those gems will be lost if you don’t modify your insurance.
6. So you live in a flood or earthquake zone? Well, typical homeowner’s policies do not cover floods. The lightning or fire damage from some local calamity may be remedied, only to find out that all the water damage from the river overflowing is not. Flood insurance is available through some governments, but owners and renters are well advised to seek the advice of their independent agent here.
7. Your office is at home. Some policies have limitations as to whether or not you can have an office in your home. This is something you need to check out so you don’t get caught losing everything over a technicality. Go over your policy for any exclusions.
8. Changing insurance carriers. Homeowners can save a lot of money sometimes by “shopping” insurance carriers. Just combining auto, home and other coverage used to be the biggest savings here, but companies like Aviva, in Europe and the UK, offer incentives like discounts for buying online, and so on.
9. Asset protection. Most homeowners never think of their home as an asset really, but their opponent’s lawyer in a personal injury or other lawsuit may. The structural protection you need is one thing, bodily injury or property damage if someone gets injured in your back yard, is totally another. Are you covered? Can you bet your life you are, right now? You see the point we hope.  This press release via MarketWatch reveals some home economics tips you can use.
10. Home sweet, old home. Basic homeowner’s policies do not cover damage from that occur because of old pipes or symptoms some old homes experience. If you already own an older home, you have already experienced the idiosyncrasies here. Special policy add-on can help you defer loses you might otherwise incurred from owning that charming Victorian.