Are you thinking about starting a business and need somewhere to set up shop?
Do you already own a business and have a need to expand?
If you have been looking at Atlanta commercial real estate, and have been on the fence as to whether you should buy or lease a property, then you aren’t alone.
Atlanta Commercial Real Estate: Tips On Making A Decision
There are many other business owners in your position who just need a bit more information, which is what we’ll be giving you here.
So, how do you decide?
Let’s take a closer look.
Why You Should Buy
When you think about the reasons to buy or lease, they are much like buying or leasing any other property.
When you buy a property you can do anything you want.
Feel like breaking down a wall and making a room bigger? Have at it.
Want to completely remodel an entire section? No worries, go right ahead.
When you purchase a property, it’s all yours and you can do whatever you please with it.
However, there are other things that come with buying commercial real estate in Atlanta.
Which will lead us nicely into the next section of…
Why You Should Lease
When you lease a property, say an Atlanta office space, you are responsible for a lot less, as opposed to actually owning it.
For instance, should something break down like the plumbing or maybe even structurally like a wall, you’d just have to contact the landlord you are leasing from.
It’s almost like living in a home that you rent.
When you are a renter, you have certain rights and certain things that you are and aren’t responsible for.
Since you are paying rent, you may not be responsible for replacing the HVAC system (provided one came with the property) should it go out, or pay the plumber for any major work that needs to be done.
With Atlanta commercial real estate, there are definitely some positive things you can get when you buy, but as you can see you will also take on the added responsibilities of ownership.
If your company is small and growing and you don’t have the money to purchase a property, then leasing may be your best option.
How Do You Decide What’s Best for Your Business?
Here are a few questions you can ask yourself to make the best decision possible.
Do I currently have the funding or resources to purchase commercial real estate in Atlanta?
Do I want the flexibility to move locations in case I outgrow my proposed location?
Do I want less responsibility when it comes to maintaining my location both physically and financially?
As you answer these questions, you will begin to see whether or not purchasing a location is right for you.
While you may want to purchase right off the bat, keep in mind that leasing gives you more options to start off with.
If you decide to make a purchase, and find that you want a bigger building later on down the road, then you will be locked in and your money will be tied up until you are able to sell that building.
If you are leasing a property, then moving will be much easier to do.
If you would like more information on commercial leasing or buying in Atlanta, please give us a call today at 404-348-4448.
Let’s continue the conversation in the commments below. Do you have any tips we haven’t mentioned?
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