One of the many decisions that a business owner faces is the decision about whether to buy or rent the commercial property that serves as the public face of their business. And, like most things, there are plenty of pros and cons to consider when making that decision.
For example, when buying a commercial property, the down payment is typically much more than is required for a residential property – typically around 20% of the total purchase price. However, owning the property also gives you access to other financially beneficial perks, like the ability to take advantage of tax write-offs or other credits. And the commercial space you own is more than just a public face – it’s also a place where work gets done, and you may need to make renovations or other customizations to the property that are simply not possible to do when you only rent the property.
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