This 5 part educational series will begin with the advantages of owning commercial property. Please follow us in the coming weeks to learn about the additional benefits of being a property owner.
Most business owners eventually confront the question of whether to purchase or lease their office space. There are many factors to consider in making this important decision. For new dental practitioners who are uncertain of future space needs and want to ensure maximum cash flow as they grow their business, leasing may be a wise option. But for new or seasoned practice owners with a strong financial profile, a clear picture of future growth, and the ability to take advantage of the tax benefits of ownership, a commercial real estate purchase can provide a solid foundation for growing the business.
Favorable Financing Rates
The most significant cost of purchasing real estate is the mortgage interest rate. Today, rates for commercial real estate purchases continue to be at an all-time low, ultimately saving you significant funds as you pay down your commercial mortgage. However, obtaining financing can still be a challenge, so it’s critical to maintain a spotless financial profile and be prepared with a comprehensive business plan that makes the case for the viability of your practice. Also consider working with a lender that specializes in dental practice financing and understands your particular needs.