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Buying a business premises

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Buying a business premises is similar to buying a house however, there are a few differences. First, you’ll need to undertake a thorough due diligence process, which includes things like:

If you need to obtain finance, allow long enough for your bank to settle; typically 60-90 days. You will also likely need a much larger deposit than a home purchase; anywhere from 25-50%.

We’ve helped many business owners navigate their business premises purchase, so have listed a few advantages and disadvantages to consider.

Advantages

There are a number of advantages in buying a premise rather than leasing one:

Disadvantages

While there is a great deal of freedom in owning your business premises, the disadvantages include:

Let’s Talk

With over 15-years in business and proud owners of our own business property, we can help you navigate the challenges in buying your own business premises. Send us an email below and we’ll help get you off on the right foot.

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