Are you interested in purchasing a studio space, or even just cutting down on rental fees for your projects? I’ve been in production for over 15 years, and I’ve rented studio spaces in different parts of the country.
These days, it’s important to reduce your overhead, and still ensure that you have the space you need to do your work. The pandemic isn’t going to last forever, but it will forever change how we work and where, so it’s important to consider how to stay caught up.
I sell real estate in Nashville TN, and I’ve been working in production here for a long time. Something that people may not have realized is that until July of 2020, it was illegal to operate a studio out of your home in the metro area. This might seem crazy, and it is, in fact it was rarely enforced. You likely wouldn’t know about it unless you tried to pull a permit to build a studio for commercial purposes in a residential area.
But the law just changed. And with the advent of this change, it’s going to make it not only easier to build some custom spaces, but should also open doors and loosen neighborhood restrictions all around the city.
That said, if the question is, should I rent studio space or create space where I live for my studio? Or maybe even, should I look for a new place to live, where I can have more space for my home studio? Well, that may be a personal question, but you do have to live somewhere, and you do have to get the work done. Isn’t one payment better than two? Especially considering the rates for a home loan are very low at the moment, and you can own more space than you can rent in most places around town, I think the answer is clear.
A lot of the artists that I know and work with also wonder how they can get approved for a loan based on their self employed status, and fluctuating income. I have a few lenders that I work with that do loans based on bank statements, or other sources of income declaration that can help free up that concern.
I’m recording this video from my home studio, and I wouldn’t have it any other way. If you feel the same, and you want to start looking for a home to buy that has a bonus room or extra space for your needs, or a totally finished studio in the basement – they exist all over this town. I’d love to be the one to show you.
I hope this helps, and please let me know if I can be of service to you. Good luck out there.