Becoming an owner-occupant during the construction of a new commercial building has several advantages:
- Being a homeowner means you don’t have to pay rent, which can mean significant savings in the long run.
- When you are an owner occupant, you can customize the space to your specific needs and preferences. This may include changes to the layout, addition of amenities, etc.
- When you’re an owner-occupier, you’re making a long-term investment in commercial real estate. In the event of subsequent resale, you can realize a capital gain on the value of the building.
- By being an owner occupier, you have better control over the costs of operating the building, as you can make renovations or improvements to save on energy, maintenance and repair costs. li>
- By being an owner occupant, you have the flexibility to change the use of the building as your business needs change.
- Homeowners can benefit from tax advantages such as tax deductions for mortgage interest and operating costs.
Ultimately, becoming an owner-occupier when constructing a new commercial building can provide long-term financial benefits, flexibility and control over operating costs. However, it is important to consider the upfront costs and responsibilities associated with real estate ownership before making a decision.