Leasing or purchasing office space is a big decision for small medical or dental practices. There is much to be considered such as the future growth of the practice, the location in regards to patients and the cost and benefits of the condominium itself. Asking yourself these four questions will tell you which attributes matter most to your individual practice, and whether you should lease or purchase.
- Will the practice expand?
- Have all costs been considered?
- What are the tax implications?
- Is there an equity-building strategy?
Excerpted from GlobeSt.com article written by Sonny O’Drobinak in June 2017.