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Buy, Lease or Build? Finding a Space for Your Small Business

Buy, Lease or Build? Finding a Space for Your Small Business

Small Business
SouthEast Bank| June 25, 2021
Buy, Lease or Build? Finding a Space for Your Small Business

Buy, Lease or Build? Finding a Space for Your Small Business

There’s no question that small businesses make a big economic impact. According to the Small Business Administration (SBA), there are over 30 million small businesses in the country. Those businesses employ nearly half of the private workforce. 

If you own a small business or startup, you may need a dedicated office or workspace as you grow. When it comes to your commercial real estate options, there are three choices: buying, leasing, or building. Each option has its own benefits and drawbacks, so here’s what to consider before designing your new space. 

1. Buying commercial real estate

Whether you need a manufacturing facility or a bright and airy space to meet with customers, investing in commercial real estate for your business can be a wise decision. However, there are also a few downsides to keep in mind. 

Pros

Cons

2. Leasing a space for your business

If you don’t think buying commercial estate is right for you, leasing can be a viable alternative. When you lease a property, you can use it for your business needs and customize the space, but you have to get approvals from a landlord and pay rent. 

Pros

Cons

3. Building a custom workspace 

If you’re unable to find a current structure to buy or lease, you may be considering building commercial real estate specifically for your needs. While that can be a smart move for some, it’s not a good idea for everyone.

If you decide to go this route, choosing a trusted financial partner for your commercial real estate loan can help simplify the process. To learn more about these types of loans, you can contact SouthEast Bank’s expert mortgage lending team for knowledgeable guidance.

Pros

Cons

If you’re a business owner, your business location plays a big role in your operations and profitability. By evaluating the advantages and drawbacks of buying, leasing, or building property, you can make the best choice for your bottom line. 


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Information contained in this blog is for educational and informational purposes only. Nothing contained in this blog should be construed as legal or tax advice. An attorney or tax advisor should be consulted for advice on specific issues.
 

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