Most business owners spend a lot of time looking for an office to rent. But, have you ever considered buying an office building for your business? By doing this, you’ll own the entire building! Still not convinced? Then take a look at some of these points:
No Monthly Rent
One of the big selling points, for me at least, is the fact that you won’t have to pay rent. If you buy a building, it belongs to you. Therefore, you have no one to rent it from. I’m fully aware that you don’t get the building for free; it will cost you money. In fact, it’s probably going to cost a lot of money. Buildings don’t come cheap, just make sure you can afford to buy one!
However, I find it much better if you can buy a building instead of paying monthly rent. By paying rent, you have a financial burden every month. There’s always something coming out of your business expenses. But, if you buy the building, you only lose money that one time. You won’t keep seeing money leave your account each month. Plus, sometimes rent can go up, which can be very annoying!
You’re Free To Make Any Changes
Another great thing about buying an actual building is that it’s yours to do with as you please. You can make any changes to the structure and exterior of the building. Don’t like the colour of the exterior walls? Give the building a new paint job! Fancy doing something to the grassy areas on the pavement? Consider laying down some grass pavers! No matter what you feel like doing, no one is going to stop you. There is no landlord to tell you that you can’t knock down a wall to create more space. Everything is in your hands; you’re in complete control!
Obviously, this means you can alter and shape the building in any way you like. It gives you free reign to create the perfect office for your business needs. In doing so, you could create a place that gives your business a whole new image. You could design a new, modern, office building that makes your business seem important and professional.
You Can Use It To Make Money
The best thing about owning an office building is that you can use it to make money. Your business can rent out some of the floors or office space to other companies. Then, you get to collect rent from them! So, you’ve got your own super office, designed to perfection, and can now rent out office space to others. Your business is still going to be in charge of the building, and you’re still free to make any changes to it. But, you get money from other businesses using your building as their offices!
Of course, if you prefer to have the entire building to yourself then that’s your choice! Some people would rather rent a few floors out to get some extra cash. It can help you reclaim the money you spend on the building!