When I started out on my making-money-online journey, one of my personal goals was location freedom. I didn’t want a 9-5 desk job – I wanted to be able to work from anywhere in the world.
When I am at home though, that’s where I like to stay, but many people have asked me about the pros and cons of a home office lifestyle, so I decided to put together a list, and compare it to the renting/buying alternative.
Working from Home: The Pros
- There are no overheads other than your normal living costs
- This approach is much better for people who prefer to work alone
- My favourite – there’s no commute! Plus, you get the flexibility of being able to take your work abroad
- There’s no need for the tight collar of an office – you can sit in your PJs if you prefer
- Working from home enables you to fit your hours around your home life
Working from Home: The Cons
- It can be quite lonely if you prefer people’s company
- There’s a danger of overworking yourself, as you’ll find it harder to switch off in your own home, as well as many other risks
- If you work with a lot of clients or you’re a remote worker of a company, it can be difficult to deliver on projects with no face-to-face time with coworkers
- Family and friends tend to see you as permanently available
- Distractions! You have to be very self-disciplined to make a home office lifestyle work, otherwise you will always find time for procrastination.
Renting Office Space: The Pros
- You can have more of a “normal” working environment in a shared office space
- It’s easier to mentally separate your workplace from your home
- No interruptions – no two hour phone calls from your mother or a neighbour popping round
- If you’re thinking of buying, investing in commercial property can be a smart move
- The ability to host meetings with clients is a big bonus, as many office spaces have meeting room facilities included
Renting Office Space: The Cons
- The expense – whether you choose to buy or rent, the overheads on an office space are the biggest downfall of this venture
- You will always have a commute involved
- You’re far less flexible in terms of where you work, so any problems that occur once you’ve left the office can’t be dealt with immediately
It all comes down to the type of person you are. If you’re a sociable character that thrives in a co-worker environment and is easily distracted, then an office space is definitely something you should consider. It could also be a fantastic investment. If you’re like me though, and prefer the lack of commute and ability to work from anywhere in the world, perhaps you should be thinking about how you can re-use that spare room.