Private Practice

[vanbamm]

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Would anyone know what the process is like for setting up practice in a house? Is there a difference in the loan applied for to pay for the house? I am unsure if it is a home loan, and you turn it into an office, or if it is an business loan and you just utilize it as a home as well...thanks.

 

[347932]

Would anyone know what the process is like for setting up practice in a house? Is there a difference in the loan applied for to pay for the house? I am unsure if it is a home loan, and you turn it into an office, or if it is an business loan and you just utilize it as a home as well...thanks.

Are you using this house for your residence as well as for your practice? You may have to change the zoning to make the "house" a commercial property if you are only using the house for your practice location. These are issues/questions you should ask a loan/mortgage officer.

 

[NatCh]

In addition to talking to the loan officer, also consult an accountant, attorney, and insurance agent. Each one will be vital in setting up your business properly.