For small to mid-sized businesses, renting commercial real estate seems the natural choice. It’s what everyone does, right? Not so. Purchasing commercial real estate has its benefits as well, and for ambitious entrepreneurs who want to go for the long haul, investing may be the way to go for the following reasons.
With renting, you will always be paying out to the landlord. You might have the perks of having maintenance issues resolved for you, but a percentage of your business’s income will always be less. With a mortgage, you can set a monthly payment rate for a set period of time, and depending on how long you wish to be in business, eventually you will not have to pay anything to use the space. The savings you will get from buying vs. renting will be significant. Investing in commercial real estate is also more affordable than you might think; even though it does take greater capital to make the step, it will save money in the long run.
Maximize as a Business Platform
When you own a property, you can also maximize it to its full extent. As a business platform, your property can boost marketing efforts and employee morale. A commercial real estate owner can change the property’s appearance and add features to wow the public and better engage employees. For example, the Googleplex, Google’s headquarters in California, has a smooth, shiny glass building face suitable for its brand, plus a rooftop garden park as well as other perks for employees. Owning your business’s building can also be an opportunity to gain income by renting out a section of it, which is a highly attractive option.
Over time, properties tend to appreciate in value and have a good return rate. If you ever need to sell your property, it will likely be worth more than what you paid for it.
Take a Risk
Risk is always involved in investing in commercial property. Whether it’s a strip mall, an apartment building, a warehouse, an industrial building, or an office building, investment into one of these is a great commitment. For those starting a business, it is often a jump from financial security to a venture without the guarantee of success. However, it is these types of people who tend to have better outcomes in business.
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for the perfect realtor for your property or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with selling your home and getting the best possible price, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, and Pinterest.