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El Paso TX: A City with a Diverse Past
El Paso TX has a diverse history. The city’s military presence is a large part of its character. It is home to a number of military facilities including Biggs Army Airfield and Fort Bliss.
During World War II, many El Pasoans rolled up their sleeves and joined the United States military. Hispanic Americans were particularly affected by this.
The location is in a climate of desert
El Paso has a desert climate with hot summers, and cold winters. Its central location in Texas allows it to be a major manufacturing center, and its border with Mexico makes it a popular destination for international trade. It is also home to 70 Fortune 500 companies, as well as the US Army Fort Bliss which has more than one million acres of land for training soldiers.
El Paso’s water consumption has changed significantly in the last few years. It has, for example, urged residents not to use lawns but instead replace them with gravel and cactus. It also limits how often homeowners can use their sprinklers.
The city is still struggling to balance its needs, those of its residents and businesses, as well as its agriculture and dwindling supply of water. In addition, rising temperatures are making it even harder to find water. According to a recent study conducted by the Texas state climatologist, eastern Texas is heating up faster than other parts of the state.
There are 297 sunny days in a year
El Paso, the sunniest of all Texas cities, has much to offer for families. El Paso is located near the Mexican border and has an active state university. It also offers a variety of family-friendly entertainment, shopping and shopping opportunities. It is also a safe place to live, with low crime rates and an abundance of parks and wilderness areas.
El Paso does have its disadvantages. One of the biggest disadvantages is that it can be very hot. Its annual rainfall is only 9.2 inches, and snow covers the ground for 0 days a year.
Cloud cover varies throughout the year. The brighter period of the year starts around March 24, lasts 3.4 months and ends on July 6. It is sunny, mostly clear, or partly cloudy during this period 80% of the time. These figures exclude rare days of rain and wind. Seasonal variations affect the likelihood of rainy days. These are days when either rain, snow, or a mix of both precipitation types falls.
Wild animals are a common sight.
Located in the arid Chihuahuan Desert ecosystem, El Paso TX is home to a wide variety of wild animals. Franklin Mountains are also located in the city. They consist of canyons, pine and juniper forest and rugged terrain. El Paso’s unique environment is ideal for seeing a wide variety of animals including mountain lions and bighorn sheep.
The city’s zoo is a good place to learn about the animals in the area. The zoo is a fun place for children to interact with animals and have fun. Children can enjoy a variety of activities, such as a water spray area and a treehouse play area.
Wild animals are dangerous when they feel threatened, or if they invade homes or businesses. Residents should always contact a professional when dealing with nuisance wildlife. Homeowners often face problems such as raccoons living in attics, birds nesting in vents and squirrels digging up their yards. Insurance companies can lose millions each year due to these nuisance pests.
Having a lot of outdoor parks and wilderness areas
El Paso offers many parks and wilderness areas for outdoor enthusiasts. Open spaces, rivers, and trails in the city offer a variety of hiking, biking, and birding opportunities. The trails and open spaces are also a vital link between the local communities and diverse binational cultures of the region.
One of the best outdoor destinations for hiking in the area is Hueco Tanks State Park & Historic Site, which is named after the natural rock basins that collect rainwater. Visitors can explore a historic ranch house and admire the rock paintings left behind by ancient people.
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Pros and Cons: Buying vs. Leasing Commercial Space
September 18, 2023
Business, real estate, shopping
Comments Off on Pros and Cons: Buying vs. Leasing Commercial Space
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We’ll be direct. When you have a startup or a small business,leasing offers more flexibility in money,loaning,and changing locations. If you plan to buy a commercial space,only do so if you’re prepared to rent the same space.
Comparison of Benefits and Drawbacks of Buying vs. Leasing a Commercial Space
When you buy or lease a commercial space,you must decide which benefits you want and which drawbacks you can live with. Therefore,we don’t just compare the pros and cons. Instead,we compare the benefits of buying against the benefits of leasing. We also compare the drawbacks of buying against the drawbacks of leasing.
As you can see above in the table,the benefits of buying a commercial space is higher. But the higher the benefits,the greater the risks. Below,we also compare the drawbacks of leasing and buying a commercial space.
Benefits of Leasing Commercial Space
Renting is more viable for small businesses and startups. Leases allow you to move and spend more money on other costs. Below are some of the benefits of leasing a commercial space.
When you only have to pay rent,you don’t need a down payment. This also frees you money for qualifying for other loans. But you’ll need to pay the attorney,broker,release inspection,and security deposit fees.
You wouldn’t need to spend for unexpected damages on the property when leasing. This advantage makes it easier to budget and plan for the future. Check your contract for the extent of your responsibility in fixing what would be defined as minor repairs.
Benefits of Buying Commercial Space
When buying commercial real estate,you also get the advantage of having a property. You are more likely to qualify for loans because your commercial property makes you more stable and secure. You also have more assets aside from your business.
As equity increases over time,so does capital appreciation. Capital appreciation is affected by the same things as equity: inflation and local and industrial economies. With your long-term investment,you can fund your retirement once you sell your property or business.
When owning a commercial space,it is best to take advantage of renting it. Most businesses only use 50% of their commercial space. You can earn extra income from your business by renting the rest of the space.
Countermeasure Drawbacks of Leasing Commercial Space
Just as there are benefits to renting a commercial space,there are also downsides. While rental costs are fixed,they can be bigger than fixed mortgage rates.
Unlike owning a property,rental properties don’t build equity. Fortunately,there are lease-to-own commercial properties where your rent is part of your purchase.
Landlords may increase rent at the end of a lease term,which can affect a business’s bottom line. While you can move,you must consider the moving cost versus the monthly lease.
Countermeasure Drawbacks of Buying Commercial Space
Buying commercial property has its downsides,too. Just as you can have bigger gains by purchasing a property,you also have bigger risks and payments.
Purchasing commercial space requires significant upfront capital. Down payment for commercial spaces in Washington can be 20-25% of the purchase. Getting small business loans can help get the funding you need.
Property owners are responsible for maintenance and repairs,which can be costly and time-consuming. Remember to buy liability insurance for costly legal fees and settlements.
Buy or Lease Commercial Space: Factors to Consider
It will take time and thoughtful consideration whether to buy or lease a commercial property. Below are factors to consider,which we hope to give you insights into your important decision.
To Buy or Lease Commercial Space: Your Final Decision
Buying or leasing commercial property offers pros and cons. We often recommend renting for small businesses and startups. We also recommend buying a commercial space if you are prepared to rent the same space.
However, it is best to look at your business situation. By knowing your business needs and goals,you’ll understand better which benefits are for you. By knowing what you don’t need and what you can risk,you can decide which drawbacks you can live with.
Once you’ve decided,check out Goodale & Barbieri Company to learn more.