Hi Everyone
My friend and I are looking at building or buying a factory type commercial building for our business. I wanted to know what has been everyone's experience with building over buying. Which do think is better and which has had the most problems.
Cheers
Adam
There a few big differences:
- lead time – you can't move straight into a block of land vs a built factory
- you can't see what you are getting if you are buying a block and then imagining the built factory
- you can customise a new build to suit your requirements
- if you are buying as an IP there will be more profits to be made if you do the development work yourself
Buying an existing building or building a new one has its pros and cons. One of the disadvantages in buying, is the inherent defects of the building which might result to high maintenance i.e. structural electrical, plumbing etc. However, If you are racing with time and don’t want to build or manage construction, your option is to buy. Maybe, we can relate that to the pros and cons of buying or building a house
http://www.homebuyerscentre.co.nz/building/content.aspx?PostingID=289
I would prefer building over buying because the commercial property you are about to built is according to your specifications unlike buying which you need to do renovations and stuff…
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