How do I decide whether to buy or lease my practice space?

The decision to buy or lease is a financial comparison, not an ideology — and it should follow the location decision, never lead it.

Buying makes sense when the location is right for the long term, the price is supported by real income and comparable sales, and the capital is not needed for higher-return uses like opening additional locations. As an owner-occupant, the rent you would pay instead builds your own equity, and you gain control over the space. Leasing makes sense when flexibility, growth capital, or location uncertainty dominate. The right answer depends on evaluating the building's net operating income, the cap rate implied by the price, your financing, and what else that down payment could do for your practice. A buyer's advisor helps run that comparison honestly before you commit.