A business owner who is on the lookout for an office space in economic times need to explore buying or renting one. Pre-leased property to banks in Greater Noida presents a decent option. In some cases business might be better off with a rental option. It does make sense to explore the options on how to save on office space before availing pre rented property in Greater Noida.
Cash up front is a major consideration. When you rent out space it will cost you less in comparison to buying. It would free up resources to be used in other areas of business. The business might avail the lease option in the hope to buy it later. This would be less than the amount you need to purchase the premises. So office rental provides a better option.
If you decide to buy office space, measure your financial pedigree as well. A building has a fixed cost and you will be aware on how it costs on a yearly basis. A silver lining is that no longer you would need to compensate for rising rents which is not manageable in a budget. A major advantage is that business men do not have to expose themselves to the market risk once a contract is done, just like executing a rental agreement.
When you consider between rental and purchase of office space, explore the possibility of an expansion. The space or the building might be ok as of now, but what about the future. A business would like to expand and an office space should allow you to do that. Outgrowing of a building cannot be termed as a financial loss. There are companies who buy a large office space and lease it to small companies for a profit. These companies who rent out their premises have the benefit of availing a large space for their business needs.
A common tip for the buyers would be to evaluate the appreciation aspect. This is a term used in real estate circles that outlines value of a property in the years to come. You need to evaluate on how much the value of a property is going to increase over a period of time. There are other points of consideration like accessibility and location. The prospect of buying a large area and selling your current building at a profit no longer suits the needs of business owners. Be aware that it runs down the risk of a property in the coming years.
Do not forget the consideration of taxes. Sometimes depending upon taxes it would be better to rent a profit from a financial point of view. In this regard it would be better to consult a lawyer along with a real estate agent. Both of them will present you a clear point of view the tax implications in renting or buying of a property.
A lot of factors come into equation during the course of buying or renting of property.