One way to maximize and leverage your home, is to work where you live and run a business. For most people, their homes only serve as a place to live. So their monthly living costs create an expense on their budgets. The only leverage you'd have in this case is if your home is located in a real estate market where capital appreciation is rapidly trending up. But this is not the scenario for everyone. If you want to turn your housing expenses into an investment you can leverage, it might be time to consider running a business out of your home. The below examples will feature some businesses who have done this. Auto Repair Medicine HatThis particular business owner lives on a property just outside the city of Medicine Hat, AB. They are located just a short drive off of a major highway, where there is plenty of through traffic and breakdowns of vehicles in need of repair. Due to having the space on his primary lot, this business owner was able to convert his garage to accommodate both light duty vehicles as well as heavy trucks. Now his property is able to act as a repair shop for people who experience breakdowns nearby. Being close to the highway also allows this heavy duty diesel mechanic to offer mobile repair services for heavy trucks who are constantly transporting goods to various communities. This business model has proved to be effective, and with the added benefit of not having to pay for an expensive lease on a separate building. Instead, a portion of the expenses already existing on the home now become part of the business write offs. Saving money from not having a lease is great for bottom line profits too.
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