Kristen Boen: 701.340.5592
Duane Peterson: 701.240.3660

Deciding Whether to Lease or Buy Space for Your Business

Deciding Whether to Lease or Buy Space for Your Business

When you venture into the world of business ownership there are a number of decisions to make. One of them being where you will operate from. While some businesses can easily be run from a home office others may need a little more space. Or maybe you have been doing very well and need to move to a larger space outside of the home. Whatever the reasons for finding the best space to operate your  business from you will want to decide whether to lease or purchase the office space you need.  

Whether you decide to lease or rent an office space, it is a big financial investment. There are pros and cons to each option. Here are some things to consider about both leasing and purchasing a facility to run your business out of.  

Benefits of Leasing 

If you have not found the space that is just right for your business or are not quite ready to make the commitment of buying a property, leasing has a number of benefits.  

Benefits of Purchasing 

The decision to lease or buy is very much dependent upon your current financial situation, the health of your business and projection, and many other factors. There is no single universal answer as to whether it is better to lease or purchase an office space.  

For more information on Minot commercial real estate please feel free to browse the website or contact us below anytime. 


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