time.
The Landlord Has Control
You are at the whim of their actions and efforts in basically all situations. You may end up with neighbors who are competitors, that you have no say over. You may have to wait months for renovations that were desperately needed. Your parking may be cut down. When you aren’t the owner, everything is out of your control. This can create problems for companies who depend on the space to look presentable or need a certain amount of parking. When you own your space, you are in control of all these things and you can make sure it plays out the best way for your company.
HERE ARE SOME QUESTIONS TO DETERMINE IF YOU ARE READY
How Long Can You Commit to A Building?
If you can’t wait for more than a few years, leasing may make sense. However, if you are capable and wanting to stay seven or more years, it makes a lot of financial sense. Each case will differ and you may be able to sell your property and move to another one but, generally, that is what I would go with.
Where Do I See the Size of My Business in the Short and Long Term?
If your business is growing at a rate you can’t measure you may want to lease, but if you have a steady plan, then buying is smart. You can always buy too much space and grow into it, renting out the space in the meantime. Also, if you see downsizing coming, take that into account.
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