East Bridgewater Office Space
Should You Buy or Lease an Office Space in East Bridgewater, MA?
East Bridgewater is a part of Plymouth County and is one of the largest in terms of land area. Many people visit the town, especially the neighborhoods on the Halifax end, just close to the Robbins Pond. This place is popular for the nearby pines and ponds as well as the town park that is listed on the historic places in the country.
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Why Have Your Business in This Town
The community is now improved, particularly at its center where there is the town common, a place where churches and well-maintained homes are located. With over 55 neighborhoods in this area, business-minded people can certainly find what they are searching for here. Communities, such as the Rivers Edge, Meadowbrook Estates, Harmony Crossing, and White Pines Village are great options.
The town has recently constructed a high school, along with a senior center, and a community that is worth $65 million. With these developments, those looking for an office space will surely find the area an excellent place for their business.
The values of the properties in this town have gone up almost five percent from the past year. With a chance to increase 3.4% over the next year, this town may be valuable for those who are looking to invest in real estate in Massachusetts.
The median list price per square foot in this area is $226, and the rentals are around $1,955 on average. However, when it comes to commercial properties, it will usually vary on the specific area in the community. For instance, in Whitman Street, properties on a lot with a size of about 8.20 acres can cost $1 million. For a smaller area, a building at North Bedford Street can cost about $94K, featuring 350 to 1,030 square feet.
Leasing vs. Buying
When deciding whether to lease or to buy in this town, you may want to compare the benefits of these two options. Both of them have some advantages, and it is still up to you to make a decision in the end. With leasing, you may have no other choice but to rent a place. One reason behind this choice is that you have not found the right property that you would like to buy. Perhaps you are not financially ready, or you do not want to commit yourself to one area for your business.
This town continuously evolves, which is why some businesspeople are not willing to constrain their company to just one place in the community. Leasing, however, does have some benefits, including the fact that you will not have to worry about put down a large payment, known as the down payment. Typically, this amount is anywhere from 10 to 30 percent of the total price of the property.
When you choose to lease, you will have to pay the deposit in which it will typically equal to one month’s rent, sometimes two months. An additional payment would be for the broker fee if you used one during your search. Meanwhile, if you hired an attorney for negotiating the office space to rent, you can expect to pay for his or her services for two to four hours for the legal professional’s time.
Leasing does have some benefits for you, and you can use your remaining cash to expand the unit or for working capital. On the other hand, buying is also a great option, especially if you have the money to pay for the building or a unit. One reason why businesspeople choose purchasing a property over renting is that it helps build equity over time. You can use the investment as your collateral as you decide to expand your business. Some people even use it as funds for their retirement.
The costs also remain steady since your monthly payments do not increase for the whole duration of the loan period. Another reason why you may want to purchase a property for your business is that it allows you to depreciate the building. You may not be able to write off the cost of the property all at once, but the IRS will give you the opportunity to depreciate it for about 39 years.
How to Market the Properties in This Town
Marketing the commercial unit is easy once you have found the location in East Bridgewater. The best way to accomplish this part of the procedure is to get discovered, particularly online. With the property online, whether it is meant for leasing or sale, you will find someone who will take the unit for their business.
With much of the discovery process performed online, you can show potential tenants or buyers where your site is located. The town is full of businesspeople looking for a place where they can start their company, and your building may just be what they have been looking for.
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