Should You Buy or Lease Your Office Space? Here's A Visual Guide!

Wazzup Pilipinas!

For many companies, location is essential. You wouldn’t want to set up your office in a place where you know the business won’t thrive. In addition, the area should be able to cater to your employees’ needs and still be accessible to your current and potential partners.

Once a decision has been made as to where the office will be, the next question is whether you’d want to buy or rent an office space—and this question is often not easy to answer, even if your business is already an established one in the industry.

There are both pros and cons to buying and renting, and the answer to which one to choose really depends on multiple factors. Some of these factors include the nature of your business, the industry you’re working on, your current financial capabilities, your property preference and its cost, the number of employees, and the business strategy your choosing to implement, to name a few.

Whether you’re setting up your first office or relocating to a new one, your option should be beneficial for your business. In this infographic, you can read up on the boons and banes of buying and renting office space to help you in weighing your options, as well as the considerations you need to put forth before coming to a decision.