For those who are thinking of starting a business, the options they have for commercial space are either leased or purchased. Buying is more expensive than leasing but business owners consider this an investment. Some however prefer commercial land for sale rather than purchase it since it is cheaper. Which of the two options should you consider and why?
The phrase that often gets people to buy property rather than to rent it is “rent money is dead money”. While this is a good mindset for when you buy a home, when it comes to business, commercial land for lease is considered the better option. There are many reasons why this is what a lot of business owners believe and here are some of them:
- You don’t tie up your capital in the purchase of commercial property – When you take out a loan to purchase commercial property, banks will usually ask for a bigger down-payment. You can expect your lender to ask you for up to 50% of the property’s value upfront as deposit. If you’re operating on a rather tight budget, buying commercial property isn’t a wise move. Commercial land for lease is a better alternative.
- Maintenance costs on property you own is higher – When you own property, the cost of maintaining it is usually bigger. Instead of pouring most of your capital into such a move, why not look for commercial land for lease? These are less costly to maintain since the property owners are usually the ones who take care of upkeep.
- You can’t move your business when needed – Another drawback of buying commercial property is you can’t just move your business elsewhere. If your business is growing and you need to expand, your property won’t expand in a snap. If you put your business in a commercial space for lease, you can easily find bigger property to move to when your business starts to pick up. The property owner you are leasing your commercial space from might even have another bigger space for you to lease from them.
As you can see, leasing property for your business is the better choice and not only due to the reasons mentioned above. Apart from these, finding commercial property for lease Sunshine Coast property owners offer for rent is easier than finding such properties for sale. If you want to get your business up and running quickly and at a cost that is not a burden to you, commercial land for lease or property for lease is your best bet. Check it out at Henzells
If you need help in finding either of the two, there are real estate professionals who can help you. Henzells Agency is one such entity that can help you find what your business needs in terms of property for sale or lease. The commercial properties for lease and commercial real estate for sale Sunshine Coast companies can look at for their business are available for you to peruse on their site. To find out what listings they currently have for both, check them out at henzells.com.au. If you can’t find what you need on their site, you can talk with one of their specialists to help you find what you need.