If you’re looking for commercial real estate one of the main questions you might be asking yourself is should I lease or buy. Our experienced team at Menlo Group Commercial Real Estate can help you through the decision making process. Below, we’ve highlighted just a few of the many things you might want to think about when making your decision to lease vs. buy:
- Know your business and know your industry. Consider what the trends are and will be so you can project how you and your business fit into the bigger picture. This will help you determine if it’s better for you to stay in one place for several years or if you should consider a shorter term lease.
- Have a good sense of your potential growth. If you know your business will grow a lot in the next five to 10 years, this could mean that you’ll need and want to extend your building or expand your office space. In this case, it’s important to know what your lease allows for expansion and growth.
- Research growth of location/neighborhood. It’s always good to do research on the area that you’re looking to move into. As with the other two bullets, this is where our professional commercial real estate team can help. You’ll want to know data on how businesses in the area have changed in the past, as well as what might be projected for the future. This can affect your long-term view of the property and how it best fits your needs.
The decision to lease vs. buy can sometimes be challenging. But knowing your industry, having a clear vision of your company’s future, and having good data can help. It also helps to have a knowledgeable commercial real estate expert on your side – like the Menlo Group.
At Menlo, we won’t rest until our clients have the perfect commercial real estate property, in the right location. Let our experienced team of professionals get to work for you today.