Lease or Buy?
Many businesses reach a point in which they are faced with deciding if buying a building would benefit them more than leasing space. There are several factors that need to be considered when evaluating your needs.
- When you buy a building, you have a good idea of what your costs will be over the long term. If you lease space, the market will dictate what you will end up paying for rent in the long run.
- When considering tax factors, it is always sound advice to consult with your attorney and tax professional about legal and financial considerations to owning a building. The good news is if you buy, you get to take depreciation on the improvement portion of the property and can usually deduct all of your interest payments.
- Many of the lease vs. buy factors can be decided by you, but having the helping hand of a commercial real estate professional is important. There is help, feel free to call our office and get advice from our brokers who are experienced in this process from the beginning to the end.
