Business owners have
the choice
between
renting their locations
and
buying their locations.
In the past,
if the business owner
had the funds and/or the credit,
it often made financial sense
for them to buy
their buildings and/or lots.
It was rare
that the land would decrease
in value.
And it was assumed
the site could be insured.
Today, we can’t assume that.
Due to climate change
and other factors,
many places, many structures,
many lots
can’t be insured.
If they can be insured,
the insurance premiums
are often larger than
mortgage payments.
Factor
the current insurance situation
into your buy vs rent calculations.
It is a significant variable.