My husband and I have started, owned, and grown four businesses in our 24 years of marriage and are starting a fifth. In that time, we have owned four homes. Although the majority of our business has been conducted outside the home, most were started at home or involved the use of our home in numerous ways. If you are a business owner or ever think you’ll be one, below are questions to think about when buying a home.

Is there potential “regular and exclusive” office space? Home-based business tax deductions are based on the square footage area or ratio of rooms used, but must meet the regular and exclusive test set by the IRS. While I do not do taxes and this is not tax advice, the amount and size of your home office deduction can be a huge money saver at tax time for small business owners.

Is the house suitable for client visits? Will any clients who come to this house feel comfortable? Even if you have another place where your business is located, it is not uncommon for clients or vendors to meet at your home to drop off or pick up papers, supplies, products, etc.

Is the client meeting space separate from the kitchen? My husband cooks and likes to make spicy food; let’s not impose that on sensitive clients.

Is there a separate entrance for clients and vendors? If clients are coming for a meeting, I don’t want them coming through my kitchen or other common areas, otherwise I would have to clean up every time. No way!

If employees need to work in my home, can they reasonably stay separated from my family space? This is connected to the separate entrance question — and don’t forget about the bathroom they will need access to. When dealing with my children, I needed space away from “the office.”

Is it a potential source of diversified income? Even if your current business does not need any home office space, does it offer potential if you create a new business? Can part of it be rented? My current house has an upstairs apartment; this feature is the main reason I agreed to buy our Coventry Cottage “fixer-upper.”

Is there a quiet place to work, a separable space away from the TV, traffic noise, and family? I started my first business when my son was four months old; I was glad for an office away from the noise.

Is there a place to leave work materials out safely? I do not want to clean up my home office area mid-project at the end of every day. Nor do I want the kids or my husband stirring my papers so I can’t restart quickly tomorrow.

Is there potential for two offices? My husband has always had his own office (see note above). His filing system has always been to find things where he left them and have multiple projects with multiple piles. Two offices definitely helped us stay married for 24 years.

Can the work area be locked? If you work with medical or financial information, the space should have its own locked door. My Bernville house had lockable French doors with a keypad lock.

Merra Lee Moffitt, AWMA, CMFC, CFP®, AIF® is a Senior Partner, Wealth Strategist with The Goodlife Financial Group. To contact Merra Lee, call 610.628.2055 o; 610.488.7353 c; email: Merralee.moffitt@lpl.com; website: www.Welcome2TheGoodLife.com/MerraLee.