Our little company is in the middle of a very big decision. We are growing and need offices - so what do we do?
There are 3 viable choices:
1. Rent office space
2. Buy commercial office space
3. Buy a house and use as offices
The problem is trying to work out which one is best. They all have pro's & con's but each seems to have a con that turns me off enough leaving me in no decision hell. Here is a basic intro into each...
Rent office space:
Pro: Relatively cheap compared to buying
Con: Zero investment in property. You're paying someone else's bond
Buy commercial office space:
Pro: It's an investment and this area of the property market is set to boom
Con: You have to pay a min of 15% deposit and the bond is 10 years not 20 (ouch!)
Buy a house and use as offices
Pro: Affordable compared to buying offices
Con: Transfer and legal fees will be more than a years rent under option 1. It's like burning money.
So this is where we are stuck. At this stage any decision will be a good one, even if it's wrong. I'm so stuck with which option is best that I'm happy to make a wrong decision because at least I'll then know and can take it off the list!
Frustrated!