Should You Rent Or Should You Purchase Office Space In Kolkata?

If you run a small business you likely need to make a choice at some point about having your own office space. Whether you are too big to work from home, what location you need to be in, whether you look for office space for sale in Kolkata or whether you should rent. There is a lot to think about when it comes to having your own office space but here we look specifically at the to rent or to buy question most businesses eventually face when they reach a certain size and are more established.

What cash are you able to access?

If you want office space, in order to have the option to look for office space for sale Kolkata you will need to have access to a good lump sum for the initial outlay. If you cannot get the money for a large downpayment sum, then you are not ready to buy, you should choose to rent. Renting is a lot cheaper initially, you just need the first and last month’s rent money.

Think about the rate of return

You need to consider what that money is going to best do for you, is it going to get you better returns if you invest it elsewhere? How much of a cash cushion can you still give yourself if you use a lot as a downpayment? In these times it makes sense to have a cushion in case business drops for a while. You also have to consider what costs you can manage on an ongoing basis. When you buy an office you have upkeep, maintenance and repairs to keep up with. With a rental, you pass those issues to the owners of the property. But with your own space, you can make changes that will improve your business and hopefully your profits which you cannot do if you lease.

Think about the growth of your business

With office space for sale in Kolkata when you own it, you do not have to keep moving as you grow, you have your own building to grow into. If your business is going to grow into something a lot larger though, you might want to stick to renting until you are at a more stable size, as it is easier to move from one rental to another than to sell and buy another larger property. What some businesses do if they want to own a building but are not large enough to fill it, is use it as a source of income and rent out the rest of the space. Owning the space is the better long-term investment if you want to be in the same place for a number of years.

Summary

It is a good idea to have a chat or two with an experienced commercial real estate expert when you are considering buying office space for sale Kolkata. They can help with what opportunities are out there and with what you need to know and do to have the best success.

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Created on Oct 25th 2022 02:03. Viewed 99 times.

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