When you decide to open a business, there is a need for a special space to dedicate to your work.
But is it better to look for a property to buy or rent? Let's see advantages and disadvantages of each option.
First let's clarify between two terms that are often used interchangeably, but are not: commercial property and commercial premises:
the commercial property is a structure built specifically to host a commercial activity of any type, consequently it can be characterized by a production area, a space to be dedicated to offices, interiors to be used as a warehouse; the classic example of a commercial property is the industrial building ;
the commercial premises is a room (which may be a room, an apartment, etc.) which is part of a building in which other non-commercial buildings are also located; it is the place indicated if you want to open a shop, a private studio, a bar, a restaurant etc.
Especially if you are looking for a commercial premises you need to consider various factors before choosing. Your fund must be located in a favorable place for trade, in sight, busy, possibly in a main street near other shops, schools, offices, public transport or parking lots. Also take into account the square footage , which must be suitable for the type of business you are going to undertake. But, even before all this, direct your search by choosing between a property to rent or to buy.
Buy the property for your business.
Having a place of your own in which to dedicate yourself to your work is a great satisfaction and certainly in our country it is a very convenient time to buy, because the purchase prices on average tend to fall both in the residential and commercial real estate sector, as there has not yet been the recovery of the real estate values expected for 2020. But buying a property is a great commitment, especially if you will take out a mortgage that will bind you for several years. To make sure the purchase is the right decision:
you must be sure that you do not want to change the location of your business for a long time, so buy only if the area and characteristics of the property seem suitable, also evaluating any space needs that you may have in the future, in view of a possible growth of your business over the years;
you must have savings that give you the peace of mind to face the commitment you make with the bank and possible contingencies that may arise;
choose convenient loan conditions that guarantee a sustainable installment and favorable rates.
If you find the right opportunity for you in the suitable area, today mortgage rates still at historic lows make buying really advantageous, giving you the opportunity to make a real investment, paying for a good that will then remain your property .
Rent the property for your business.
Renting a commercial space is a solution that many prefer because it involves fewer constraints than the property. Rent is the ideal choice when:
- you cannot invest large sums of money or ask for a mortgage
- the business has just started and the margins of success and growth are not yet known, or if you are not entirely convinced that you want to stay in a certain area in the future.
Given this greater flexibility, paying the rent over time will in no way contribute to the creation of a property.
To find out which solution is right for your business, contact a real estate agency: in the Gladstone area, relying on the Alternative Real Estate Agency is the right choice!
Your real estate for sale in Philippines will help you evaluate all the options well and, thanks to his advice, you will be able to quickly find the right property for your particular needs. Click here to see the best real estate proposals in our area and contact us!
