Are you struggling with the decision to buy, rent, or lease commercial real estate for your business? You are not alone. Each will have its own opinion, but ultimately the decision is yours. Understand that your company does not have to do what everyone else is doing, your situation is unique.
If you buy a piece of commercial real estate, you get the benefit of asset appreciation. The value goes up, which means they will be able to sell it for more than you paid for it. You also benefit from the fixed overheads. Your mortgage does not go up (unless you have an ARM). Your company will have the option to sublet space to help pay their bills.
One of the disadvantages of buying is that you are fully responsible for all repairs, maintenance, taxes and fees associated with the property. You are also locked into a commitment if you buy larger – often there are penalties to pay, related to commercial real estate mortgages. If you find you did not like the area, again, you’re pretty stuck to it. Think carefully about this decision, both in terms of its business and the area.
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