### What does "live-work space" refer to? - [ ] Properties strictly for residential use - [ ] Properties strictly for commercial use - [ ] Rental properties in urban areas - [x] Property used for both living and working > **Explanation:** Live-work space refers to property specifically designated and used for both residential and business purposes. It allows individuals to operate a home-based business within the premises, making it crucial for those requiring such arrangements to be aware of local regulations and covenants. ### What should buyers look for if they need live-work space? - [ ] Availability of public transport - [x] Restrictions on conducting business at home - [ ] Proximity to shopping centers - [ ] Size of the backyard > **Explanation:** Buyers seeking live-work space should be cautious of any covenants in certain areas, subdivisions, or communities that may prohibit conducting business from home. Reviewing these restrictions is essential for ensuring that the property meets their needs. ### When considering live-work space, why is it important to consult with a real estate agent? - [x] To avoid viewing homes in areas that restrict home-based businesses - [ ] To get a lower mortgage rate - [ ] To change the property's designation - [ ] To find properties with high rental yield > **Explanation:** Consulting with a real estate agent is crucial for individuals seeking live-work space. Agents can filter out properties in areas that restrict home-based businesses, saving time and avoiding potential legal issues. ### Why might master-planned communities be problematic for those needing live-work space? - [x] They may have covenants prohibiting home-based businesses - [ ] They are typically commercial zones - [ ] They do not provide adequate infrastructure - [ ] They are usually highly populated > **Explanation:** Master-planned communities often have covenants that restrict conducting business from home. For those needing live-work space, these communities might not be suitable due to these restrictions. ### What is a critical step for current homeowners thinking about starting a home-based business? - [x] Reviewing existing covenants or agreements - [ ] Expanding their property - [ ] Relocating to a business district - [ ] Renting additional office space > **Explanation:** Before starting a home-based business, homeowners should review any existing covenants or agreements to ensure that operating a business from their home does not violate any neighborhood restrictions. ### Who might restrict owners from having a home-based business in standalone communities? - [x] Homeowners' associations - [ ] Local government bodies - [ ] Real estate agents - [ ] Mortgage lenders > **Explanation:** Homeowners' associations (HOAs) in standalone communities can impose restrictions on conducting business from home. It's crucial to understand HOA rules before planning to use a home for business. ### What features define a live-work space property? - [ ] It has separate entrances for business and living areas - [x] It is officially designated to allow home-based business operations - [ ] It is part of a commercial shopping center - [ ] It includes a mandatory 24-hour security system > **Explanation:** A live-work space property is officially designated to permit both living and business activities within the same premises. This designation is crucial for those who wish to operate a business from their home.