Whether your current lease is about to expire or you are looking for a spot to launch your business venture, choosing a location is a huge decision. As they say, location, location, location. If your customers reside in a particular area of town, it only makes sense to make sure you are operating close to that area. But how do you decide between leasing or buying a commercial space?
One of the advantages of owning your own space is knowing exactly what your future costs will be. Unlike lease costs which can fluctuate, mortgages have been declining for decades. Depending on your business type, ownership may also be beneficial. For example, if your business requires specialized equipment and machinery. You also have the advantage and option of bringing in additional revenue by utilizing any extra space on the location.
On the other hand, a downside to ownership is … Read More