Lease vs. Buy Retail Space in Winchester, MA

As you plan to start or move your business to Winchester, you will be faced with several choices to make. One of them is to decide on whether you should buy the unit or lease the space. The suburban town may be smaller than the other neighboring communities, but it has plenty of offers for business owners who are searching for a commercial property.

Click Here to Search

Retail Space

This town is considered the seventh most affluent municipality in the state of Massachusetts. It is comprised of less than four percent water, and a valley that was once a part of the Merrimack River bisects it. The area has some bodies of water, including the Winter Pond, Mystic Lakes, Aberjona River, and the Wedge Pond. It borders other towns, including Lexington, Stoneham, Medford, and Arlington.

Transportation is easy in this town, and the bus lines go through the communities of Cambridge, Arlington, and Medford. It also has stops that are just walking distance from one another.

Should You Buy or Lease Your Space in This Town?

One of the most significant questions business owners often wonder about is whether they should buy or lease the property for their store. The answer always depends on the needs of the business and the choice is situational. Both have advantages and disadvantages, and therefore, there is no fixed solution for all companies.

The town has plenty of options available, but most of the properties are up for lease. If you plan to purchase, the good news is that there is a chance that you will find units every few months. Swanton Street and East Street are among the areas where you can find affordable properties that range from $1 to $2.60 per square foot per month.

Church Street and Converse Place are also great options since they provide easy access to roads, which means you can benefit from the high visibility of the location.

When deciding whether you should lease or purchase, you may want to take a look at the pros and cons of both. One of the reasons why you may want to choose to buy over renting is that it can help you continually profit over time, particularly throughout the course of the investment. You may not realize it, but you are actually saving a lot when you buy because you do not have to pay for the monthly rental, which can increase every year.

You can also save from taxes through different deductions. Buying also provides you with the benefit of realizing the value through the appreciation of the property. You can also take advantage of the ability to have an income source so that you can pay the mortgage.

Meanwhile, leasing allows you to keep your cash, simply because you do not have to provide money for a substantial down payment. Typically, you will only have to pay the security deposit as well as the first and last months of renting. This method can be beneficial for you, especially if you are starting your business. It is common that you may not have enough liquidity, so leasing is the better option.

How to Advertise Your Property

If you have a unit for sale or lease, you certainly want other people to know about it. The most effective way to achieve this purpose is to list your retail property online. The first step toward the accomplishment of your goal is to have some pictures ready. This way, you can attract buyers to check out the property and perhaps buy or lease it.

When taking photos, you should efficiently show the whole building and its curb appeal. As much as possible, there should not be any cars in the shot and make sure your camera’s angle is flattering for the property.

Whether it is a retail store, a bar, or a café, you want to speed up the process of matching the property with the right lessee or buyer. The good news is that you do not have to spend so much time in creating an advertisement that would entice the viewer and the potential occupant. We can help you connect with the right people so that when you list your unit, some business owners will contact you.

The ad or listing should drum up the interest of those who are searching for a spot in the town of Winchester. They should want to ask questions and eventually consider moving to the property to start their venture.

Click Here to Search

Retail Space