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What’s better in a down economy, buying or leasing office space?
With the current economic downturn, is it best to buy or lease office space right now? My company is looking at moving office locations, but recently I heard from a source that leasing office space is the way to go right now. I thought buying office space would be the way to go in a down economy, so can anyone shed some light on the situation?
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1 Answer
This is certain ways is economy independent. What are your real estate needs going to be in the long term? If you are rapidily growing, purchasing is probably not your best bet. If you are going to be stable in size, then it may be a good decision. Other factors to consider: you will now have to do all your own maintenance, what is the neighborhood like, what type of financing terms can you get, is it better to put the down payment, etc, into a piece of real estate or into working capital to grow the business. And yes be sure and do an ROI on both cases.
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