How to Build a Home Office Without Breaking the Bank | personal finance

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Annie Millerbernd, NerdWallet

Beginning in January, James Hulett’s garage became his home office for about six months. His company sent him home earlier than most jobs to prevent the spread of the coronavirus.

“I have a 3 year old son who is very interested in tools so it would be him [in the garage] Finding tools to bring them in and taking toys and stuff apart,” he says. “It was a circus.”

Over the summer, he and his wife bought a home west of Salt Lake City that had room for an indoor workspace. It just had to become an office.

Hulett, like employees at many companies in the U.S., expects to work from home at least through the end of the year. Some companies have announced plans to keep office doors closed well into 2021, while others have offered remote working as a permanent option for employees.

When you’re ready to start building your home office, here are tips on managing costs and financing options for larger projects.

Look at your existing cash

Hulett set up his office with money to spend within his weekly budget. His emergency fund is rock solid, he says, so falling back on it wasn’t an option.

Over a third (34%) of homeowners who have completed renovations since March 1 took the same approach, paying for their projects with cash they had on hand, according to a recent study NerdWallet survey.

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