Whether you’re looking to lease or buy office space in Houston, you’ll need to consider some crucial elements about your desired property before signing a contract. That is, you’ll have to think about expenditures like a down payment, equity, deductions, depreciation, and any modifications you might want to make. Depending on the type of operation you intend to set up, the location you choose, and the volume of business you plan to bring in, these costs can sneak up to bite you.
Your business deserves the ample, comfortable, affordable space you want it to have to help it succeed. Your desired accommodations require working with a licensed professional who knows the city inside and out, as well as the properties on the market and any zoning regulations or ordinances that may apply. Your business venture is significant, so don’t put it in the wrong hands.
When looking for Houston office space, you’ve got some solid options. But first, you’ll need to determine whether you intend to lease or purchase. If you know the size of your operation, that will help to decide whether or not you want a single-unit space or something much more significant to accommodate a bigger team. Your type of business will also assist in determining your best options as well.
From medical buildings to retail, industrial, warehouse, flex-use, and data hosting offices, you have a wealth of opportunities here. Office spaces for sale show that listings range anywhere from $120K to $16.5M. Several other options offer prices upon request. However, if you’re looking to lease, you also have extensive options. Some include rates as low as $.22 a month, while others go for up to $12 to $13 per square foot per year.
Rent vs. Buy
If you’d prefer to rent, keep in mind, you’ll need to understand the differences between percentage, full-service, and net leases, as well as their terms. When leasing, you’ll have a smaller up-front outlay and tax-deductible payments. You’ll also have more flexibility, able to run your business without managing the property, and there’s a short move-in lead time. However, costs vary by market, landlords may impose limitations, and you won’t accrue equity.
When buying, stay informed by consulting with inspectors, surveyors, and lawyers. Benefits of buying mean your property value will appreciate while dealing with predictable costs and deducting interest payments on tax filings. You can also rent out extra space or make changes to the property per zoning ordinances without permission. However, you’ll have significant cash outlay, high down payments, long lead time, property management to deal with, and the possibility of a low return.
You’ll have to weigh the pros and cons of each option when it comes to lease or purchase, as well as which type of office space in Houston you want to acquire. But you do have extensive possibilities.