Home Office or Coworking Space?
If you’re self-employed or a remote employee working from a home office, you’ve likely encountered some obstacles of living and working under the same roof. You’ve probably discovered a dozen benefits as well. As with anything, there is a long list of pros and cons associated with working at home.
Likewise, there are advantages and disadvantages of utilizing a coworking setting. Coworking spaces are similar in appearance and function to traditional offices. But instead of housing only one company, space is shared by a community of people who pay membership fees or rent and work independently.
Coworking spaces are beloved and heavily utilized by freelancers, small business owners, other independent contractors, employers, and employees who want a professional and productive office space but don’t need to lease a traditional, dedicated office building.
Considering all the varying factors to determine which makes the most sense for your business, keep in mind that it doesn’t have to be either/or. Some entrepreneurs choose to divide their work time between a home office and a coworking space. Digging into how the two differ can help you decide the best home base for your operations.
1. People
If you’re an extrovert, if your business would benefit from increased networking opportunities, or if you conduct interviews or client meetings frequently, a coworking space might be an ideal home for your business. For type A extroverts, working in a home office can contribute to feelings of isolation or loneliness. If you feel more energized when you’re around others, working alone in a quiet house might not be a motivating setting for you.
Not only can being around others in a coworking environment provide the human interaction you might crave, but it can also create endless networking opportunities. In a shared workspace, you’ll find other entrepreneurs like yourself who will not only understand the challenges you face as a business owner but many who could become clients, customers, collaborators, advisors, or business partners.
Finally, if your job involves meeting with others, your home office might not be the best place for that. Having a well-appointed external workspace to conduct meetings helps you represent your brand professionally and allows you to keep your home-life and work-life separate.
Conversely, if you’re an introvert or seldom have face-to-face meetings with others, being one of many in a shared space might not work as well for you as a quiet home office would. Remember, this isn’t an all-or-nothing proposition. Most coworking spaces have multiple membership involvement levels, so you could choose to work from your home office most of the time but work in a shared space on an as-needed basis.
2. Distractions
Depending upon your specific type of work and the number of people or pets that share your home, you might find a home office mostly distraction-free or the most distracting place you could work.
Working from home might include regular interruptions caused by pets or humans that share your space and cause it to feel a little chaotic at times. It might be hard to find a quiet area and time to make business calls or join virtual meetings.
For others, the home could be the perfect place to work distraction-free. Especially when compared to a coworking space that has people coming and going all the time. Finding privacy in a coworking space can be challenging.
The type of work you do will play a part in the decision-making process too. For example, if you’re a freelance social media manager or virtual assistant, a coworking space might be perfect for you because of the networking opportunities we’ve already covered.
But if you’re a freelance grant writer, having a quiet space at home with multiple large monitors and a place to spread out the books and paperwork you’ll need as you work will be invaluable. Examine the most important features you need in a workspace, what your work requires, and decide whether a home office or a shared space offers the most protection against disruptions.
3. Costs
It might seem that working from a home office would be the most cost-effective option since you already make a mortgage or rent payment each month, you already pay for utilities, and you might qualify for some tax benefits. Additionally, working from home means no commute, no wear and tear on your car, and no stopping for gas a couple of times each week.
Working from home means you’re probably not getting an expensive cappuccino every morning and going out to eat with coworkers each day for lunch. You might even notice savings on your wardrobe budget if you work from home full time.
But some would argue that working in a coworking environment nets a solid return on investment in a variety of ways. First, going back to networking opportunities in a shared space, many feel the connections they make help increase revenue, so the rent or membership fee is worth it.
Others report that the expenses related to setting up a home office are cost-prohibitive for them. Some coworking spaces provide more than just a desk. Many offer private offices, conference rooms, technology, and printing services. Paying for a membership that offers what you need rather than dedicating that much square footage of your home and purchasing the equipment yourself could make coworking more cost-effective than working from home.
When considering the pros and cons of each option, think about your productivity, too. Working in an environment that contributes to your highest quality work is the best choice for you. And whether you choose to work from home or a shared space, you’ll be spending much less than you would if you went the old-school way of starting your business in a traditional leased space.
4. Time
Just as working from home seems like the most logical way to save money, it also seems like the most logical way to save time. If you work from a home office, your morning routine might be quite different than if you travel to an external work site every day. It might take less time to get ready if you’re working from home.
You won’t have to take time to pack your lunch, and you won’t have to fight your way through rush hour traffic. Whether your commute is a long one or a short one, there is something to be said of no commute at all.
As a self-employed business person, time is your most valuable commodity, so maximizing it when and where you can is a good thing. But if your workday at home is interrupted by housework, laundry, pet or garden care, kids, neighbors, or partners, you might find it better to spend your time in an external coworking space.
If that’s the case, look for coworking spaces near you or off the most heavily trafficked paths. Consider the hours of operation. Some coworking communities allow access around the clock or for extended work hours. Maybe you can plan to come and go earlier or later than the traditional rush hour crowd to reduce your commute.
5. Amenities
If you’re considering a coworking space as a full-time home for your business, an occasional resource when you need it, or some level of use in between, be sure to do your homework before you commit.
The varieties of coworking spaces you will be able to choose between will boggle your mind. If you’re in a small community, your options might be limited. But in most suburban and urban areas, you can find inexpensive and straightforward choices that offer a table and comfortable chair, where you’ll work shoulder to shoulder with someone else. They might offer a desk or cubicle for added privacy, and that’s about it. That might be all you need.
But you can also find coworking environments equipped with more amenities than you could imagine. Many will have coffee stations; a few will have fancy espresso machines and frothers. Most will have sodas; a few will have fresh juice. Some will have vending machines or a snack basket; the premier sites will have organic fruits and veggies, warm chocolate chip cookies, or vegan sandwich wraps for lunch.
On a more practical note, the most popular amenities are the ones related to work. Desks that convert back and forth between sitting and standing and ergonomic chairs are hits in coworking spaces, as are resource rooms with access to copiers, printers, scanners, adaptive technology, and teleconferencing capabilities.
Some offer yoga studios, nap pods, fitness centers, or on-site child care centers. You can go as basic or as high-end as your budget allows in a coworking membership.
Only you can know for sure if working from a home office or a shared space is best for you and your business. Noticing when and where you do your best work can help you decide. And once you choose, be encouraged by the fact that if one doesn’t feel as comfortable as you’d hoped, you can always give the other a try.
Both options are far more affordable and adaptable to your needs than leasing a full-time dedicated office building. As the boss, you have the freedom of choice, and both are fantastic choices in their unique ways.