Is it better to lease or buy your office space?
When deciding either to lease or buy new office space you have to determine your priorities; namely, you have to know if you need to achieve outstanding results in a relatively short time, or you are committed to building your company at a more gradual pace. In the first case, leasing will free a lot of time and energy to focus solely on your work, while buying (especially a relatively inexpensive prefab office building) might prove to be a better long-term investment.
Leasing keeps you flexible
Leasing your office space is a good solution when you want to have your offices close to your costumers but cannot afford the real estate prices at such location. It also provides you with a higher cash flow which can be utilized for developing your company. Your rent is tax deductible; however, it does not contribute to building your equity, and you can expect it will increase over the course of time. It is true that renting gives you a lot of flexibility, yet it also puts you in a very vulnerable place. Your landlord can easily neglect their duties of upkeep, change the conditions of leasing at will or even sever your contract.
Buying a prefab office building for sale is a good long term investment
Buying your own prefab commercial office building represents a good opportunity to build a healthy equity. Namely, prefab office building prices are relatively low compared to other types of business buildings. Prefab buildings can easily be modified into variously big offices which could be, if needed, additionally sublet. Such modifications could considerably lower the predicted prefab office building cost and ensure a steady income in the future. At the same time, owning your own office space gives you complete control over the property without ever having to fear of being kicked out.