One of the most challenging aspects of owning a small business is dealing with office and warehouse space, especially during periods of rapid growth. At Workspace USA, we know finding an office space that suits all of your business’s needs is a complicated and tedious process that often turns into resentment rather than excitement when it’s all said and done.
When considering what you need from your office space, it’s essential to think about what you or your business may need in the future. Traditional business parks and office spaces are expensive. They don’t leave a lot of room for growth, and with COVID-19 affecting more businesses with every variant, business owners are looking for alternative solutions.
Below, we discuss everything you should consider when looking for your small businesses’ next office and warehouse space.
The Modern Approach to Office and Warehouse Space
Many small business owners are adopting a more modern approach to the traditional office and warehouse spaces by purchasing Flex Spaces. Flex Space offers modern, attractive exteriors in different sizes and finishes options to meet your business and personal needs as you grow. Working with owners to make sure each suite, small or large, accommodates your specific needs. Every interior is as different as the owner that occupies it. Whether you need warehouse storage or a brick-and-mortar office outside your home, a Workspace USA Flex Space building is most likely suitable for you as they are fully customizable, so you can make it your own.
A Workspace USA Flex Space is fully equipped with finished, conditioned office space, bathroom and breakroom plumbing, fixtures and cabinetry, and HVAC. Plus, your suite will be wired for high-speed fiber internet service so that you can design your space to best suit your business.
Buying vs. Renting
Workspace USA offers multiple leasing options, but why rent space when buying and owning can ultimately cost less? You can recoup your investment when you wish and potentially create appreciation and wealth.
After the initial down payment, the ownership costs usually are less than renting a comparable space. Plus, you can build your net worth and balance sheet and improve your financial statement and borrowing capabilities.
- Other benefits of owning rather than renting include the following:
- Rental rates will only continue to rise, so now you can enjoy no annual rent increases!
- Reap the tax advantages of owning versus leasing.
- Realize property appreciation, build equity, recapture your investment, and ultimately profit!
- Hedge against inflation with low, fixed monthly payments.
- Utilize the depreciation of your unit’s total cost to provide significant deductions to your yearly income taxes (if your building is used for commercial/business usage).
- Individual control of your space and its design.
- As is the case on a lease property, expenses for customization and improvements can be recaptured at the time of sale rather than lost.
- A low-risk investment to provide future cash flow and retirement income.
As commercial real estate becomes more expensive and available real estate product dwindles, flexible office, storage, and workshop space are at a premium. A Workspace USA Flex Space Condominium is a real estate investment that will appreciate, just like a home or an office building does, building your equity. Like a residential condominium, a business condominium is a piece of real estate you own, and you still receive a deed at closing.
Need a little more time to save up for a down payment? Talk to us about a lease purchase that allows you to move in with a lease and later convert that lease to a purchase contract. In many cases, we can structure a lease-purchase where a portion of your initial lease payments is credited towards your purchase price.