Have you ever wondered if it would be more beneficial to purchase commercial space instead of leasing it? Below are 6 reasons that may persuade you to become an owner!
- Equity – As you pay down the loan principal and interest your stake in the property grows. The equity could be used as collateral for future financing needs.
- Tax Breaks – The mortgage interest is tax-deductible which can help offset the costs of owning the property. You can also deduct property taxes, but there are limitations on what portion is tax deductible or considered a business expense. Please check with your accountant.
- Rental Income – You can rent some or all of your property to tenants building a lucrative income stream.
- Stable Occupancy Costs – Avoid escalating rents and gain peace of mind from ownership.
- Appreciation – Over time, commercial properties may grow in value from year to year if the property is maintained and the location does not decline.
- Refinancing – You can incorporate other debts into one low cost loan with up to 100% financing as part of the Real Estate Purchase.