Is it better to have office space where you can bring a mug of coffee and get to work, or would you instead prefer to invest in real estate that you can see but not touch? That's the question behind lockable vs. virtual office space.
Depending on your circumstances, you will discover that one fits your needs better than the other. What does each mean, and how do you know which will work best for you? Learn more about these two different types of investment.
What is lockable office space?
Lockable office space refers to buying real estate and getting keys to your investment. You can now lock or unlock the doors, hence the name. Lockable space is tangible. You can use it for whatever you like. If you want to start working from your space, you can. If you want to keep it locked up for the next six months, you can do that too.
Lockable office space provides the best investment for a business or individual requiring a physical location to do work. The property will be registered in your name, and when you decide you no longer want it, you'll have to sell it off yourself using either a real estate agent or self-listing. You'll be responsible for the sale, and you'll get to decide what offer to accept. You'll also have to pay for the maintenance and upkeep of the property.
What is virtual office space?
You can think of virtual office space as an office space that's not lockable. While you own the space, you can't physically access it. Purchasing virtual office space is like investing in an IPO — you'll get a slice of something, but not the full rights.
When you purchase virtual office space, you invest in a share of the building, and the owner provides you with a guaranteed return on what you buy. You represent one of many investors putting money into the property, and the owner must pay them all when they decide to sell.
In this case, unlike when you invest in a lockable office space, you'll never get keys to your investment. In fact, you may never even see it. While you know space exists, the investment exists more in theory. You won't be introduced to the people who rent the space, and you will only interact with the investor who sells you space.
Similarities between virtual and lockable office spaces
While there are a great many differences between lockable and virtual office space, you can also find similarities, such as the fact that you can:
- Sell the space whenever you like
- Make money off your investment
- Earn appreciation on your investment as time goes by
Whether you decide on virtual or lockable space should be based mostly on whether you want a hands-on commitment to your property. If you do, Designblendz can assist you with creating 3D renderings when you need them. If you're selling the property or just want a better appreciation for what you own, contact Designblendz to get started.