Things You Should Consider Before Buying a New Office
If you’re setting up a business and happen to have significant amounts of financial backing, you may have considered buying a new office to serve as a base for your company. But is purchasing an office really the best route?
The Benefits of Office Ownership
The decision to buy an office should not be taken lightly, however there are clear benefits of doing so.
When purchasing a property, you will likely be able to secure your payments over the long-term. This ensures you’re paying an affordable amount each month that falls within your company’s budget.
There may also be possible tax savings after deducting the property taxes and mortgage interest from your annual review.
Finally, investors may be keen to purchase an office in an area where property prices are appreciating. This way, they’ll be able to sell the space and generate a profit when it’s time for the business to move or expand.
Despite the potential benefits, there are also a number of downfalls. Firstly, you’ll need to gather enough capital to place a deposit on the property, which many up and coming businesses will simply not have.
Owning your commercial premises will also make it harder to relocate should the opportunity arise, as you’ll be stuck with the task of selling the property beforehand.
Furthermore, you’ll also find yourself stuck with the responsibilities of property ownership. All building maintenance, decoration and security will be down to you. On top of that, you’ll also need to take into account the bills for water, electricity, telephones and Internet connectivity!
It’s clear to see how owning an office could be hard work – not to mention expensive, making it less than ideal for start-up companies.
So, what’s the alternative?
Those who choose not to buy a new office will need to look at alternative means of setting up their business premises.
One of the most common and appealing options will likely be a serviced office. This is due to the flexibility, convenience and affordability of the premises in comparison to a purchased property.
While you won’t own the office, you’ll enjoy the benefits of having everything you need set up and ready to go as soon as you sign your lease.
You’ll find a basic office set-up, high-speed Internet, an advanced telephone answering service, speedy tech support and even a pantry, all included in your monthly fee.
With all this taken care of, business owners will have far more time to spend on those all-important projects.
If you’d rather not invest in an office for your business and instead favour the idea of a serviced office, Asia Serviced Offices can help.
You’ll be able to choose from a number of serviced offices at a range of locations around the Asia Pacific region. Whether your business is big or small, the perfect premises are waiting.