4 Benefits to Buying Your Business Property


Owning a business is a dream for many aspiring professionals. Many business owners cite a variety of reasons for making the jump into business ownership: the ability to be their own boss, the ability to explore their creative freedom or simply because they are tired of the “corporate grind.” For many business owners, one thing that is often considered is whether they should lease or purchase their business property. We’ve put together four benefits to buying your business property.

No Surprise Rent Increases

For many business owners, one thing that is often considered is whether they should lease or purchase their business property. We’ve put together four benefits to buying your business property.One of the benefits of owning your business property is the ability to rest easy knowing your rent will not increase when it’s time to renew your lease. It is not uncommon for rental prices to increase, especially as the space you are occupying becomes more desirable. This can save you the headache of budgeting more for rent, or even having to find a new location for your business.

Freedom to Make Upgrades

Much like owning your own home, when you own your commercial property, you are free to make upgrades that can increase the property’s value. As your business grows, you have the freedom to add additions to the building, like a new state-of-the-art conference room for your team or a new employee break room.  Because you are the owner, you have total control over the property.

Lease Extra Space

Another benefit of owning your business property is the ability to lease the extra space to other businesses. While this comes with the responsibility of maintaining the property for your tenants, it also adds additional income that can be used to maintain the property, or to improve the property. Additionally, it gives you room to expand your workspace as your business continues to grow.

Property May Appreciate in Value

One more benefit to owning your business property is the potential for the property to appreciate in value. If your business in an area that is growing and is becoming more desirable, it could increase greatly over time. If you decide to sell the property in the future, the potential for a profit is high.

Contact Colonial Today

If it’s time to stop leasing your business space or you are looking to purchase a commercial property, Colonial’s banking professionals will be happy to help guide you through the business loan process. For more information, visit the business loan section of our website, or give us a call today at 817.390.2000.

 

This product is currently only available in Texas. Additional restrictions may apply.

 

Related Article: Looking for more Small Business Tips? Check out these 5 Easy Ways to Avoid Work Stress.

 

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