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Definition

market common

Live-Work units, or LWUs for short, are properties that allow for both residential living and commercial use in the same location. In most cases, the owner of the business must be the resident that occupies the live-work unit. The layout of LWUs can vary from simple to quite complex and luxurious. Traditional live-work units are two-story apartments that place the living quarters above the business space. However, there are instances where the living space is located beside the workspace, or even behind it. More luxurious options may even include a three- or four-story townhouse that dedicates the first floor to commercial business, while the second, third, and fourth floors are used for residential purposes. The type of work-live units that are available for use varies on municipal codes and the type of business that residents are looking to operate. It should also be noted that live-work units typically place the residents at precedence, while work-live units will likely place the business in operation at precedence.

Advantages

One of the biggest advantages of residing in a live-work unit is the cut down on commute time. Many business owners enjoy the convenience of being able to take a brief walk to and from work and have found their gasoline and food bills to also decrease as a result. Business owners may also find that operating out of a live-work unit is similar to working remotely from home. Another major advantage of live-work units is that they offer affordable office space. Instead of business owners paying rent for both their home unit and their commercial unit, they only have to pay for one, conjoined space. This is especially helpful for business owners during the early stages of operation. 

Disadvantages

While the proximity of work and home offers benefits, business owners may find themselves having difficulty separating their personal life from their professional life. This may be especially true for those who consider themselves workaholics. The amount of living space may also be significantly decreased since the unit size is divided between two functions. As a result, a live-work unit may not be the most ideal option for residents with children or pets.

The Market Common

If you are a business owner seeking to reside in a live-work unit, consider exploring the Market Common community! The Market Common is a vibrant shopping, dining, and residential planned community located in Myrtle Beach, SC. This community offers residents a coastal downtown vibe with local shops and restaurants, just walking distance from their homes. The Market Common offers a wide variety of options for residential living. With several apartment complexes and numerous neighborhoods, Market Common provides an opportunity for every family. Embedded in the shopping district are units above local businesses, allowing you the opportunity to live right in the middle of this lively community.

the market common

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