Business owners must exercise due diligence every step of the way when buying real estate. Inadequate financing, unexpected construction costs, an inefficient layout and environmental lawsuits are just some of the problems entrepreneurs may face without proper planning.
Although real estate costs have plummeted since Covid in 2022, it is still preferable for entrepreneurs to buy rather than rent properties. In addition to not having to pay rent increases, your property may also appreciate in value and contribute to your investment portfolio. As a buyer, you can deduct the interest paid on your loan, the value of the building’s depreciation from your company taxes-something you can’t do with renting.