Are you considering whether to do child care out of a home you don't live in? If so, you should consider many different factors before making a decision.
Not all states allow family child care providers to operate their business out of a home they don't live in. Check with your local licensor. Also find out if the regulations differ - they may be stricter.
There are some advantages of making this move:
* Your own family will have more privacy and freedom from the clutter of the child care business.
* Your new location may allow you to care for more children.
* Your new location may be more suitable for children or in a better neighborhood to attract parents.
* If you buy the new building, you will get the benefit of rising home values over time.
The biggest potential disadvantage is financial.
slightly off topic however I've been looking for a residential apt for over a year to start a 2nd family daycare (while keeping the one in my home). I've found that homeowners abhor the idea of a family daycare in their home because of the noise, liability (even though I tell them I have liability insurance) and wear and tear to their property. So my experience is that it is extremely difficult, and so far unsuccessful, finding a space external to my residence to run a family daycare in.
Posted by: Almond Tree | 10/29/2011 at 01:13 PM
@Almond Tree: I'm in the same boat. We've actually decided to buy a second home rather than try to rent for our second location.
There's a glut of foreclosures on the market right now and with interest rates close to a historical low it seems like a good idea to us. I don't like the idea of parting with the cash for the down payment but there's great demand in our area for daycare and we want to take advantage of it.
Posted by: Chad | 11/18/2011 at 03:06 PM