Ottawa Commercial Property: Factors to Consider in Lease or Buy Decision
Argue specializes in Ottawa general contracting and is a leading builder of Ottawa steel buildings. We’re here to help you get your new Ottawa commercial space up and running if you decide to build or renovate – but before you do, you need to make the decision of leasing versus buying.
You should purchase or build *with the assistance of an Ottawa general contracting firm) your Ottawa commercial space is this describe you:
- Control of the Ottawa commercial space is critical. You may need to make substantial changes, structural or otherwise. Or you may want to have flexibility to change your hours or operate around the clock. If you lease an Ottawa commercial space, you can only do this with a landlord’s permission.
- You are in the Ottawa commercial space for the long haul. A lease can be more economical and cash flow friendly for short term needs, but for Ottawa office space you plan to keep long term, buying and/or building will prove more affordable.
- You need security of Ottawa commercial space. Location. It could be especially important if you are establishing roots and do not want to lose customers or employees if forced to move.
- Supply doesn’t meet your demand. Many of our customers seeking Ottawa general contracting for commercial space come to us after failing to find suitable space to meet your needs. Building or renovating ensures your space will fit your needs.
- Investment. If you find a location to buy and.or build Ottawa commercial space in an area that you deem as “up and coming,” it makes sense to buy so you can reap the rewards should you want to sell down the road.
- Tax savings. Purchasing lets you recover your cash outlay over time by yearly depreciation deductions. And if you financed your purchase, interest-paid deductions are also available.
Buying and/or building isn’t for everyone – if this describes you, stick with a lease for your Ottawa commercial building:
- Cash is king. Many Ottawa businesses just don’t have the money or cash on hand to buy/build. A purchase will require a lump-sum purchase price or at the very least a down payment on a mortgage.
- Maintenance is a menace. Leases typically the task of maintaining the property on the landlord – taking unexpected expenses or hassles off the table.
- You want flexibility. A lease for Ottawa commercial space, especially a short term lease will provide you with an option to get out of your Ottawa commercial space, move to new space, and/or build when you are ready.
- Your credit rating makes a mortgage impossible. If your Ottawa business is new or have had rather new, or has experienced some financial difficulties, lenders may not be willing to extend it sufficient credit for a mortgage on the facility.
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