Leasing vs. Buying

If you have completed the worksheets for Chapter One and for this chapter, you should have a clearer picture of your needs and options, as well as a stronger grasp on the financial aspects associated with either leasing or buying space. For a graphic representation of these comparisons, complete the To Lease or Buy Comparison Chart using the totals from your Chapter Two worksheets.

Even after completing the worksheet, you might still be wondering which option – to lease, or to buy? – is best for you. In future chapters, we will discuss the pros and cons of each choice in greater detail. Ultimately, however, the decision is yours, and depends upon your financial abilities and your present and long-term space goals and needs.

Chicago-area property costs vary dramatically, and some neighborhoods are much less affordable than others. Even within neighborhoods, cost differences can be startling. The age and condition of a building, the time of year you are looking to purchase, and the number of open purchasing offers can all affect the final price of a space, as can access to public transportation and the proximity of amenities such as grocery stores.