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Lease:
Longevity:
Start-up companies or those that are likely to relocate
within the next 10 years should lean towards the flexibility
of leasing space.
Flexibility:
Leasing space may provide a business with more flexibility
as office space needs change.
Responsibility:
Business owners should take into account the added responsibility
that comes with owning a building. Leasing space allows
an owner to focus more attention on their company’s
performance instead of utilities, repairs, and remodeling.
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Buy:
Longevity: If your company
is established and plans to keep your business in one
location for at least 10 years, then purchasing your
own building may be the smart choice. For a growing
company, it may be wise to purchase a larger building
and sublease any excess space that could be expanded
into in the future.
Building Requirements:
If your business location has a number of unique requirements,
constructing your own building could be a wise investment
as opposed to the high cost of reconfiguring leased
space.
Tax Advantages: Purchasing
your own building will result in more fixed expenses
and overhead costs, as well as a number of tax advantages.
See your tax advisor about your specific tax situation.
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