Starting A New Business: Should You Lease Or Have Your Building Built?

Construction & Contractors Blog

If you are going to be starting a new business and you are not sure whether to purchase a building or have one built, then you obviously have a big decision to make. There are many advantages and disadvantages of each possibility, and if you're unable to decide, then here are some things to consider:

Lease an existing building

Pros –

  • If you opt to lease a building where your new business will be, then you can plan your grand opening as soon as you can sign the lease, move everything in and get it set up.
  • Depending on the specifics of your contract, when things in the building require repairing, you may not have to worry about paying out-of-pocket, as it will be the landlord's responsibility.

Cons –

  • You might be required to sign a lease forcing you to remain in the building for longer than you originally planned. You might have plans on purchasing a building in the near future and you only need to lease a space for a short period of time.
  • When leasing a building, you can't choose your neighboring businesses. For instance, if your business is a dance school for children, then you don't want to lease a building near a mental health program for sex offenders, but finding the right lease for the right price might not give you much of a choice.

Have a building custom built

Pros –

  • By simply having a conversation with the commercial construction project manager, you can customize your building to meet your specific needs.
  • By having your company's structure custom built, you won't have to worry about a landlord dictating what you can and can't do in the building.

Cons –

  • Time is a crucial factor, and if you're anxious to open your business as soon as possible, then it isn't going to happen if you opt to have a building built. The weather and various other factors could delay things even more.
  • Cost is definitely a factor to consider, because having an office building or warehouse custom built is likely to be very expensive. You will need to have a sufficient amount of money to cover expected and unexpected expenses.

If you're trying to decide whether to lease an existing building for your new business or have one custom built, then there are obviously many advantages and disadvantages of each choice. The option that you ultimately decide on will depend on many different factors that must be taken into consideration. Of course if you like the idea of a commercial build to suit, then you will want to seriously consider having your building custom built. However, if you need to open your new company as soon as possible, then leasing a building that already exists might be your best bet.

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 Pool Care Perfection

Before you decide on adding a pool to your backyard, you need to decide how you’re going to take care of the pool once it’s in. This is a very important part of the pool addition process, because you’re going to spend a lot more time on the upkeep of the pool than on the installation, and it’s important to have a plan in place. After years of pool ownership, I’ve learned a lot about how to take care of a pool, what you can do yourself, and what to leave to the pool professionals. I started this blog to help others learn what they need to know about pool care and maintenance. Take a deep breath and dive right in!