In today’s competitive environment for some entrepreneurs, working without an office space is beyond their thought. This is very much understandable as for them, an office space is quite synonymous with work, and it may help them in boosting their productivity too. With this importance of having an office space of own, there comes a strong decision which is required to be made– the decision of whether to lease or buy the office space.
This choice involves several factors. As the choice, there are endless options available too. One can easily get a commercial lease in greater Noida at an affordable rate that is within the budget of many start-ups and existing entrepreneurs looking for expansions.
Factors to decide on whether to lease or buy the property for office-
The Choice of property, should be the first consideration. Depending on the local economy, one may find landlords who are willing to work with you and offer space on lease with the additional facility of remodeling the existing property to suit your needs. Many of the financial studies have shown that, for every short term period, leasing is more cost-effective than going with the option of buying. But for those who are considering a property where one can make its business headquarters for a decade or more, buying becomes the more financially attractive option.
Growth of business, whether it is booming or an anticipated good growth is to be seen in the near future, and then the option of leasing will leave you with more possibilities of future expansions. If one gets ready to purchase, it becomes easy as one may outgrow the building or purchase more building than so needed, with the associated expenses kept in mind. The same thing is also applied if one thinks that the business may downsize in the next few years.
The commitment to the location or building, on the other hand, says that thinking of growing the business lines at the same place, one can buy the property. The area which has been a slump and is in the rise to be the future demand of many of the investors is considered the right option for investing.
Nowadays, outlandish offices are offering perks to its employees and the entrepreneur to have a rapid growth in the overall productivity — ranging from gyms to restaurants. These are the norms, and desires that every business owner needs to fit in with the changing times. Only this factor at times become a hurdle for buying the property where it influences some entrepreneurs into getting office space they don’t need. Thus, it is always advisable to see all the pros and cons of the property and finally make a choice.
One must not get into the peer pressure, as some may feel and think that they’re not really running a business if they have no physical office for the work. The option of commercial lease in Greater Noida is also available. Think at least twice before making the perfect selection as the future of your business relies on the same.