Buying or Renting office Space in Kolkata?
If you own a business or want to open a business and are considering whether to lease or buy office space in Kolkata there are a few things to consider. In some circumstances, it might be that leasing is the better choice but in some buying when possible might be best. Here are some factors that could come into play to think about.
How much money do you have?
First of all, you need a lot less money upfront to rent a place than to buy. So if you do not even have the money for a down payment to get a mortgage then you need to save and lease until then before looking for office space in Kolkata. Some places will lease with the option to buy when you have the money to do so.
More security in buying
Buying a property offers you a lot more security. You will have a fixed cost every month that you are prepared for and there is no chance of rent increases or lease agreement changes that leave you at a disadvantage. You do not have to go through the stress of finding somewhere new to rent when you have to leave, you are more secure. You can also make changes to the building so it better meets your needs, upgrade, extend, reconfigure and so on.
Will the business be expanding within the next 5 years?
When thinking about renting or buying office space another consideration is how quickly do you expect your business to grow, or is this the size you wish to keep it at? If you are going to need a bigger property in 5 years or less then buying is not the best option unless there is the potential of expanding the space. With a lease, you can finish your time there and find somewhere that better suits the new size.
If you buy will the property price appreciate?
When you want to buy office space in Kolkata one of the things to consider is what kind of investment the property will be. Is it going to appreciate over time, what kind of area is it in, will it be somewhere you can resell should you want to, and how accessible is the location? You want at the least a property that will maintain its value but preferably make you a profit if there comes a time when you want to move your business, or sell it and the property it is in.
As you can see there are a few factors to think about and these are not the only ones, just some of them. Ultimately when you are thinking about renting or buying office space in Kolkata the choice is a personal one dependant on your situation now and what your short-term goals are and what your long-term goals are. Evaluate your finances and consider whether you want a permanent home or more flexibility.