When looking to start your practice or expand your existing one, location is one of the most important factors to consider. The right location can increase visibility, attract new patients and make it easy for your existing patients to reach you by public transit.
Whether you are starting a new practice or have outgrown your current practice's location, there can be benefits to leasing and buying real estate. Consider your long-term business goals and how much space you need. Here are some other factors to keep in mind.
Even if you decide to buy, you may find yourself limited to the current real estate marketplace and location preferences for where you want to open, expand or grow your practice. If there are few commercial buildings for sale in your desired area of business, you might have to choose to lease for a few years and consider buying later. Waiting to buy can potentially cost you more down the road if property values continue to rise. Each situation and practice is unique, so it is important that you arrive at a decision that is right for you at each point of your career.
Health care professionals have trusted Scotiabank to help grow and manage their practices because our health care specialists have decades of experience in practice financing and helping health care professionals like you thrive. We recognize that as your practice grows, your personal and professional financial needs will evolve too. Our tailored advice and solutions are specific to the needs of busy professionals at any stage in their career.
Visit us at scotiabank.com/physicians to learn more about the Scotiabank Healthcare+ Physician Banking Program or to contact to a Scotiabank healthcare specialist about your business banking needs.
All banking and credit products and services available through the Scotiabank Healthcare+ Physician Banking Program and the Scotia Professional Plan (SPP) are offered by The Bank of Nova Scotia (Scotiabank). Credit and lending products are subject to credit approval by Scotiabank. All products and offers, including promotional or preferred rates, fees and other features and benefits featured are subject to change. Additional terms and conditions may apply.
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