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(continued from the previous post …)
As we were discussing in the previous blog, the fundamental question in this venture is: “Why lease when you can own?” Again, the most important decision to be made is either the purchase of a brand new building or continuing some type of leasing arrangements with an existing property owner. Think about this in terms of the advantages of owning your own home. When you went about the purchase process of your home, you knew the number of rooms you required, the size of the home that you wanted, where in your community you wanted to live, and a number of other factors – long before you actually made the final purchase. You probably did this before you even took the step of talking to a realtor, because you were already informed about the benefits of owning your own home. The tax benefits, as well as the eventual re-sale value of your home in the future, probably contributed to your decision to purchase instead of continuing to rent.