Whether you are a long time business owner or just starting out, you will want to consider owning your space or leasing. In order to determine what’s best for you, consider the following questions: 

1. Can you handle the up-front costs? If you plan on financing the purchase, you will need to come up with a down payment, which is usually between 10% to 25% of the purchase price. You will also be required to pay certain costs and fees associated with closing the real estate transaction. Is the space move in ready or will you need additional financing for furniture, equipment and improvements. 
2. What are the tax benefits? You will want to check with your CPA for a comprehensive review of the impact to your specific situation.
3. Is there a potential for rental income? Having a tenant could help defray the costs associated with owning your own space, help increase your cash flow or pay down the existing mortgage on the property. 
4. Is there room for growth? You will want to be sure you have room to grow if you plan to expand your business down the road. 
5. How can you benefit from equity and asset appreciation? If you are taking a mortgage on the property, your monthly payments will go towards paying down the principal loan amount, allowing you to build equity in the property. As you pay it down, you may be able to tap into it as a source of equity for your business. As for asset appreciation, the property may increase in value over time, giving you additional capital if you choose the sell the property. 

Thinking about a property purchase?

CNB offers a variety of commercial financing solutions with competitive fixed or variable rates and both short-term and permanent real estate financing. What makes us unique in the market? We are currently offering1:

• No commitment fee
• $999 environmental and appraisal cost

If you have any questions or would like to discuss your options, please see a Bank Office Representative.

Source: ©2018 Broadridge Investor Communication Solutions, Inc. All rights reserved.1With the application of a commercial mortgage loan up to $250,000. Automatic payment from a CNB business checking account required. Subject to credit approval. Offer subject to change. Environmental limitations apply— discount may not apply to high risk property types. Environmental and appraisal costs payable to 3rd party provider for services rendered.