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Buy an office, rent it, or go the coworking route - what's best?

offices: buy it or rent it?Any starting company or even self-employed freelancers are ultimately confronted with the same question: where to work?

Is it best to buy an office, rent an office or to go the coworking route? Any major city has it's share of options for all three possibilities, and many companies even offer several different solutions like a combination of office rentals, virtual office space, meeting room rentals and coworking.

Let's take a look at the different options availabe to startups and small businesses.  If you're looking for office solutions in Brussels, we can recommend the following site: business address brussels.

 

1. Buying an office

Buying an office supposes a major investment, but when you get right down to it it might be the most economical solution out there. If you can put a small initial capital down, the monthly loan payments will often not be much higher than what you would be paying as rent.

The added benefit of course is that if you're paying off a property, you're actually not paying, but investing: every penny you put towards the payments is invested in the value of the property that you own.

 

2. Renting an office

Renting an office has it's benefits in the short term: you don't need a huge startup capital, and if your business needs change you can quickly change offices or cancel your rental contract.

However, in the long term the disadvantages are clear as your rental money is essentially 'gone', not invested like when you buy an office.

 

3. Coworking

Coworking is an even more economical solution, adored by freelancers and self-employed individuals. It allows you to benefit from the full infrastructure of an office for a small fee per month. It's also great for networking with other coworkers!

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