Having a business is amazing, especially if you live in California. Being your own boss is the best thing you can do for yourself. Even though it is stressful, it is much better to work for yourself than to work for somebody else. But having a business is stressful and you need a lot of money in order to do this. Especially if it is a serious business that requires you to have office spaces. Buying an office space for your California-based business has its pros and cons. I would personally say that there are more cons that there are pros to doing this and it is why I don’t advise you to buy office spaces. Well, at least not before you read some of the pros and cons of buying an office space for your California-based business that I think are important to mention and know before you make such a huge investment. So, if you were planning on doing this, read all the pros and cons before you make your final decision.
Pros of buying an office space in California
I want to start this off on a positive note and that is why I am going to tell you about all the pros of buying an office space for your California-based business first. Only after studying them closely should you get down to looking for respectable movers like those at Good Neighbors Moving Company who can relocate your office in no time.
1. You can do whatever you want with your office
Owning office spaces means that you can do with them whatever you desire. This means that you can remodel them whenever you feel like it. You can repaint your office spaces any color you want, add and remove walls. You can basically do anything you desire. Creating a perfect office space for your business becomes much easier which is really important, especially if you have plenty of employees.
And if you plan on staying in the same office space for a long time, this is a good thing. Every couple of years you can do some remodeling and make your office spaces feel new. This also means that you only have to organize the transport of all the items from the old office just once. This makes having a business so much easier as you won’t be moving any time soon.
2. You are investing in commercial real estate
Office spaces are considered to be commercial real estate. And commercial real estate values much more than apartments and homes. Investing in commercial real estate has never been a bad idea. And there are plenty of reasons why this is so. And as you are based in California and you are probably searching for office spaces in California, this is even more valuable. Having commercial real estate means that you can rent it to somebody else if you stop using it. And by renting commercial real estate you can actually earn a lot of money. California is one of the most expensive states in the country when it comes to real estate. And especially commercial real estate. So, overall, this would be a good investment to make.
Cons of buying an office space in California
As you can see, sadly there aren’t plenty of pros of owning office spaces in California. But there are a couple of cons which you also must know about before you actually make such a huge investment. And that is actually the first con – it is a huge investment.
1. Office spaces in California are very expensive
In order to purchase commercial real estate, in this case, an office space, you need a lot of money. And when I say a lot of money, I mean very large amounts of money. This is because real estate in general is very expensive in California. Especially commercial real estate such as office spaces.
If you want an office with a good location, in good condition that doesn’t require a lot of remodeling and repairing, and that it is big enough so you don’t have to move in a couple of years, you need surely more than a million dollars. And this is not the amount of money anyone has. Not a lot of business owners have this much money. This would mean taking out a loan. A big loan. This can have a negative impact on your earnings sadly. Especially if you have a small business.
2. You can’t relocate your offices for some time
If you do end up buying an office space for your California-based business, you won’t be able to move for a certain period of time. And you might want to. You might want to expand your offices, relocate to a better location. What if you don’t end up liking the location where you purchased office spaces or if the building is in bad condition? As you made such a huge investment, you won’t be able to move. You can of course always sell the office space. Well, that is if there is someone who is willing to buy it. Not a lot of people are actually buying office spaces in California. This means that selling your commercial property might be an issue. Besides, constantly moving and changing offices is not good nor for your employees nor for your business. It can really slow down the progress of your business.