Deciding between leasing and buying an office is an especially confusing and important for start-ups and small businesses. This is because they may not have a budget like that of an MNC and hence need to decide where they spend their money carefully. This article has advantages of having a co working space singapore that you own.
Being Your Landlord
Dealing with a landlord can be a problem. If your office encounters a problem (plumbing, electrical, etc.), you will have to inform your landlord to get it fixed. This is stressful because not all landlords handle situations responsibly and with care. If you own your space, you can solve these problems by your own time, and if something needs to be fixed, you can ensure that it gets done when you need it done.
Freedom To Customize
If you decide to buy your office, you can have complete control over how the space looks and functions. You can create a truly unique workspace that looks the way you want it to. You’ll also have peace-of-mind knowing that you can stay in your location for as long as you want.
When you buy your space, you will build equity over time. Soon, you will be able to use this equity as collateral to expand your business or even fund your retirement. You will also have tax benefits, and get annual depreciation deductions for your property. It is important to choose a contractor that will give you affordable prices.
These days, the cost to buy real estate is extremely low. It is a buyer’s market. However, it won’t stay that way for a very long period. You should take advantage of the market before it has a chance to change. Moreover, your monthly costs will remain steady if you own the property, so you won’t have to worry about random increases in prices during your loan period.
The internet will be your ally in this. If you live in Singapore for instance, you can use the internet to find available coworking spaces in Singapore.