December 16, 2016

To Lease Or To Buy Westchester NY Commercial Space?

The biggest expenditure you’ll probably have while running a company will be in real estate. So it’s important that you do your research and utilize all available resources so as to ensure you make an informed decision. That refers not only to the office itself, but also how you plan to pay for it. That is, whether you want to buy it or lease it. Unfortunately, the answer to this question is not as simple one may think. There are too many variables at stake. Nevertheless, with such an expensive undertaking, it’s always a good idea to read up on current events, and more importantly, to surround yourself with folks who can show your ropes. That’s where Rakow Group, a lease commercial property Westchester NY company with over thirty years of experience comes into play.

Volatility Usually Equals Lease Instead Of Buy

A general rule of thumb when deciding whether to lease or buy commercial property is to first have a look at the state of the economy. How has it been leading up to this point, how is it now, and most importantly, how do you, and the experts of his industry, project it being in the years to come? That refers not only to the local, or even the national economy, but the global economy. Remember that buying real estate should be seen as an investment. Similarly to home real estate, the greatest advantage to making a purchase is that property’s value will grow. That is unless the industry, and more broadly the economy as a whole is showing signs of volatility.

The Markets Looking Pretty Volatile

Well it just happens that volatility is precisely what we’re getting at this current juncture. We are going to be seeing a lot of big changes in the way things are done this year. And that will most certainly reflect on the commercial real estate (CRE) industry. We can’t know for sure how placing tariffs on companies who send jobs overseas will affect the economy. But it’s in this unpredictability that we get less investment in all industries, including real estate. In a volatile market, growth is uncertain, which in most cases implies that renting is the better option. The worst case scenario, which is that the value either remains the same or drops, meaning you end up losing money instead of gaining, is beginning to look more likely.

Minimize Risk By The Guidance Of The Pros

Of course, let us not forget, however, accurately predicting whether you’ll turn a profit from purchasing commercial real estate as as much a science as it is an art. You can crunch all the numbers you like, but at the end of the day, you’ll have to come to terms with the fact that you are making a prediction. And that there’s no real way to know how the future will play out. That’s why the best thing that you can do is to speak to the people who the industry best. The professionals. Rakow Group has over 30 years of experience delivering the best deals to clients. Learn more about our lease commercial property Westchester NY services by calling our office at (914) 422-0100.

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