Rent or buy is a conundrum that is as old as construction itself. And it isn’t one just for the domestic market either. For businesses, new, established, large or small, the decision of whether to rent premises or buy them is one that they will face.
Pros and cons of renting and buying
To make the right decision for your business, you will need to address a range of factors. Many businesses automatically assume that they won’t be able to afford to buy premises but with modular building specialists MTX Contracts, the ability to create your own bespoke business premises is an affordable possibility.
But still, you may think, there are many issues to resolve in the should we rent or buy business premises?
Rental stock is low and if you have a specific set of requirements, the chances of you finding the right business premises that are neither too big nor too small in the right location with the transport links you need are almost impossible.
You have your staff group to consider too. If you can’t find rental premises local, would moving your whole operation be economical? Would your staff follow you and relocate too?
Buying business premises
The alternative option of leasing or renting is to buy. But again, is there the right stock available to buy?
Are the premises in the right area? Are they flexible and versatile, cost-efficient to run and maintain?
Older buildings can suck a lot of money just to maintain them to a high standard you want and need.
And then there is the same puzzle to solve as renting – can you find a building to buy that has the specialist facilities you need. How many clinics so you see for sale or laboratory spaces?
There is another way.
Design and build your own with modular building solutions
It is no longer a pipe dream or something that only happens when your turnover reaches eye-watering proportions.
Modular building is cost and energy efficient and can negate all the cons that you associate with both renting and buying a property.
Modular building is responsive to business needs. You can easily upscale and downsize your business premises. You can design the building to meet your needs and that of your staff.
Take a fresh look at building your own premises and purchasing an asset for your company.