If you run a business and live in multiple states, then you have likely seen some success, but that doesn’t mean the arrangement isn’t stressful. Multi-state living arrangements can sometimes be complicated and expensive, but you can make things easier with a good plan. Here at VitalyTennant.com, we love to see business owners succeed, so we have some tips for how you can manage to live in more than one state while keeping your company afloat in the process.
Read Reviews and Purchase Items That Will Keep Your Family Safe
In the case that you have not yet moved into your new home, you should purchase some items that can help to keep your family safe. For instance, you can invest in a security system, a smart doorbell, backup smartphones, or anything in between. Before you make a purchase, do your research and look up reviews from unbiased sources. Such reviews will tell you what items are worth the price, how long they may last, and how to maintain what you buy.
Assign a Registered Agent to Watch Your Business When You’re Away
Since you cannot be in all places at once and there is a chance that you may not be at your office at all times, then it is a good idea to hire a registered agent who can watch things while you are away. A registered agent will accept legal documentation on your behalf so you don’t have to stress about being there in person. Hiring a registered agent also means that you do not need to list your physical home address, which could be important if you aren’t at home to accept the paperwork.
Be Smart About Your Purchases
There is a great advantage to living in more than one state, and that is the fact that the products and services you buy may be cheaper in one place than in the other. For instance, car prices and auto insurance can differ by state. So, if you plan to buy a car, do your research and see where you can get the better price. If auto insurance will be cheaper in one place, then consider registering your car there.
The same can go for health insurance. Prices will differ per state so you can look at where you will get the better cost. Once you find it, insure the entire family and go there for your medical needs. Just be sure to carefully read about the policy beforehand so you can ensure that you will be covered for illnesses that you may experience.
Research All of Your Prices, Including Storage Costs
While you are thinking about what state may offer the better prices for the things that you need, it is a good idea to do some research. Look at the average cost in your state and determine if you are making the right choice. For instance, consider these examples:
- The average grocery bill in Texas can be about $260 dollars per person.
- There are many, many storage units to choose from in Los Angeles, CA, where you can find a 5×5 unit for $100-$150.
- The average car insurance cost in Iowa is about $1,200 for a full policy.
- In Florida, the average cost of infant care in the state is around $8,000 for the year.
- If you plan to buy a house in New Jersey, then you could see an average price of $470,000.
As you can see, there is a lot to consider when living in multiple states with a business. But if you crunch the numbers, save money when possible, and research what you buy, you can make the situation a success. If you would like to know more about the services at VitalyTennant.com, then please contact us at 646-543-2585.