Your business is going to be more successful if you are in a location that suits your needs, meets your budget, has the right space and makes operations easier. For some owners of businesses, they choose to lease because they do not have the down payment or they prefer the freedom it gives them. But on the other hand, there are also advantages to finding commercial shops for sale in Kolkata and buying your own one so here is a look at the advantages each option offers.
Buying commercial property
Some of the advantages of buying include;
- Having a secured location – When you buy rather than rent you have a location that is completely yours with no possibility of someone taking it away, asking you to leave, selling the space, not renewing the lease or having terms you are not happy with being thrust upon you.
- Having some equity – When you are the owner you have some equity so in the chance that you face some kind of financial crisis you have something you can borrow from. Even if it is only a small office space for sale in Kolkata that is something you could borrow against if you were in serious need.
- Changing the property how you want – As the owner of the property, you can do what you want with it, remodel, make changes, expand anything! You do not have that freedom when you rent. It means you can turn it into the perfect space needed for your business needs.
- Enjoying tax deductions.
- Being able to earn rent from space you are not using – if there is any part of the building you are not using when you look for commercial shops for sale in Kolkata you could rent that out and earn some money from it.
Leasing commercial property
Some of the advantages of leasing include;
- Leasing is more cost-effective – Leasing rather than buying a small office space for sale in Kolkata usually just needs enough money for a one or two month deposit. It is a lot easier to raise the money for renting space than to buy a space. For newer businesses especially leasing tends to be more cost-effective.
- More financial freedom – When you buy you are taking on a mortgage which adds to any other financial burdens you are experiencing. Leasing gives you more financial freedom and does not interfere with profits as much as a mortgage might.
- You may be able to sublet in some situations – It is possible you could be able to sublet parts of the space you are not using, that depends on the agreement you have with the property owner.
- Allowing you some flexibility – If you lease you are more easily able to move if you need to, downsize if you need to, or indeed grow.
- Maintenance is the owner’s responsibility, not yours – When you lease somewhere looking after the property, its repairs and plumbing, and electrical corners are all the owner’s problem, not yours.