When your company needs to move into a new facility, you have the choice of buying or leasing a location, or building one from the ground up. While each choice may have its own advantages, you don't want to assume that building a new facility is more costly or that buying an older building is automatically the right choice. Note a few benefits of building a new commercial facility versus buying or leasing.
1. Sublease options
Building a new facility can mean the opportunity for subleasing either office space or additional retail space to other companies. This can mean additional income for your business from a new building that you have built, and in some cases, it can also mean additional foot traffic for your own business. For example, if you operate a large retail store or restaurant, you might build a new building with your store or restaurant as the anchor and then space for smaller stores. Customers who visit the smaller stores may then more easily visit your establishment.
2. Tax breaks
You may be eligible for certain tax breaks or tax advantages if you have a new commercial facility built, as this may mean construction jobs that are created in the area. If your facility includes space that you sublease, this too can mean tax breaks as this encourages more business in that location. These tax breaks can more than compensate for any construction costs that are above the cost of buying or leasing a space.
3. Energy efficiency
A new commercial facility can be more energy-efficient than an older building, which in turn can mean saving you money on utilities for years. This can include high-quality insulation that keeps in more of your air conditioning or heating, low-flow toilets, motion detectors for lights so they don't need to run in unoccupied areas, heavily glazed windows, and split system air conditioners that save money on energy versus central air systems. Having these included in a new building can often be much more affordable than replacing these pieces and systems in an older building.
4. Good repair
A new building of any sort often means that you won't face repairs to the building as quickly as you would with an older building. For instance, a newer roof is more likely to stay in good repair longer than one on an older building. This is even more likely if you choose the most durable building materials for your new construction, such as a metal roof versus asphalt tiles and a steel frame rather than standard wood studs.
For more information about the benefits of building your own facility, or to start making your plans, contact experienced commercial builders in your area.