|
|
- Define and understand your needs. Make sure the
decision to buy a building fits in with your business plan.
- Allow flexibility for growth or
contraction.
- Evaluate the opportunity as an investment as well as
how the property fits your needs. Do a lease vs. buy analysis as a part of your
financial analysis.
- Know the market and your
alternatives.
- Do space planning and costing prior to removing
conditions to purchase.
- Evaluate your opportunity costs. Is the investment
return comparable to the additional return you could get from investing the
money in your business?
- Compare value with a build to suit option. How much
more would it cost to build your own building if this option is
feasible.
- Have an exit strategy. Know how you will divest
yourself should the need arise.
- Obtain the services of a professional representative
to avoid costly mistakes. They do this for a living and can help make sure
your
decisions are sound.
- Location, Location, Location is an important key for
appreciation and resale.
|
|
