Matplotlib adjust inset_axes based on loc parameter instead of bbox?

I’m using inset_axes() to control the placement of my colorbar legend. The label hangs off the plot just a little bit. Is there a way to just nudge it over without having to do bbox_to_anchor()? Some way to do an offset from the loc parameter? I do want to keep it in the lower left.

import pandas as pd
%matplotlib inline
import matplotlib.pyplot as plt
import matplotlib.colors as mcolors
from mpl_toolkits.axes_grid1.inset_locator import inset_axes

set1 = ax2.scatter(df.x, df.y, 
            edgecolors = 'none', 
            c = df.recommended_net_preferred_for_analysis_meters,
            norm = mcolors.LogNorm(), cmap='jet')

cbaxes = inset_axes(ax2, width="30%", height="3%", loc=3)
plt.colorbar(set1, cax=cbaxes, format = '%1.2f', orientation='horizontal')

enter image description here