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How to Move to Toronto and Launch a Business All at OnceIf your existing home can’t support your dream of starting a business, moving to Toronto could be your best bet. While it might seem like handling a move and launching a company simultaneously isn’t possible, that isn’t the case. David Khosravi can help you make it happen.
Buying a New Home in TorontoThe relocation process is broken into two main parts. First, you’ll need to purchase a house that will meet your personal and professional needs.
When you search for homes in Toronto, you want to make sure that it’ll support your new company. Spend time determining the features you’ll need for your business as a starting point. Along with a home office, you might want extra storage, particularly if you’re making products or selling items that you’ll store in your house.
Another option product-oriented entrepreneurs might require is a sizeable, temperature-controlled workshop. Local service providers may need a garage, particularly if they have a company vehicle and tools they’ll need to carry.
As you think about your needs, look beyond what has to be in place today. If you focus too much on your requirements right now, you may not give yourself room to grow. As a result, your new home may soon be holding your company back, which isn’t ideal.
Once you know what you want in a property, it’s time to look at financing. By going through the mortgage preapproval process, you’ll know exactly what you can borrow. Then, you can focus your search on affordable properties.
If getting a lower sale price is a priority, you could consider buying a home as-is. Just make sure you consult with a lawyer, perform a home inspection, conduct a title search, and take other steps to research the land records before moving forward.
Planning for Your Toronto MoveOnce you find the right home and place an offer, you’ll want to start the second part of the relocation process: your physical move. Since buying a house takes time, you can make this easier by beginning immediately.
Contact full-service local movers to get quotes if you plan on using their services. If you intend to handle all or part of the move yourself, begin the packing process immediately. Get boxes and start packing up your non-essentials, ensuring that only items you genuinely use every day are left once you’re within a few days of leaving your existing property. By beginning now, it’s more manageable since you’re spreading out the work, ensuring you won’t have to rush at the end.
Preparing to Launch Your CompanyLaunching a business is typically a straightforward process. By tackling specific steps as you prepare to move, you can ensure that you’re ready to start your company once you arrive at your new home.
Generally speaking, you’ll need to handle the following steps to launch your new Toronto business:
As a minimum, you can tackle the first four steps before you even buy your new house, as they aren’t location-dependent. For the others, you may need to wait until you have an official Toronto address. However, if you already live in Toronto, then you can move forward immediately, as updating your records after your move will be simple.
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Contributing Author: Tina Martin