Bob Ward & Charlie Printy, CPA’s

Great Hills Village Office Building

We were paying $22/SF/year for 2,000 SF of Class "C" space.

We now pay less than $20/SF/year for 2,000 SF of Class "A" space at Great Hills Village.

We turned an expense into an appreciating asset. For the rest of our careers’ we have fixed a cost that has historically been very volatile.

The worst thing about leasing, other than throwing your money down the drain, is the lease negotiations. We were never familiar with the current real estate market conditions to know if we were getting a good deal.

We saw purchasing as a great opportunity to gain control of our office needs, lower expenses and create an investment.

We have a complete sense of control. We forever rid ourselves of the stresses that accompany lease negotiations, rental rate escalations and moving.

Our clients have been very impressed with our office "upgrade". Our upscale and contemporary office design helped create a very sophisticated and professional atmosphere. Our clients subconsciously believe they are getting a higher level of service when they visit our office. In fact, some of jokingly stated they expect our fees to increase.

We love the archways, store-front glass and classical residential ceilings. We not only feel we upgraded our office, we have a sense we also upgraded our level of service.

Best business decision we ever made.

I had a small, sterile 1,100 SF office in a class "B" building in north Austin. Our total rental cost was in the low $20s/SF.

I now own a spacious 2,100 SF office suite in Great Hills Village.

I was able to buy a Class "A" office for about $2/SF/year less than I was leasing a Class "B" space.

I hated renewing a lease when rates where high. I felt like I had no control over the situation. To save money, I always had leased built-out space. These spaces rarely met my needs. I always felt as if I was always in someone else’s office.

There are a couple of reasons I decided to own. First, I saw it as a great investment. Secondly, I not only wanted to lower my cost, but I wanted to stabilize one of my greatest expenses over the long term.

I feel like I am creating a valuable asset. I also custom designed my office to fit my company’s needs.

My employees and clients love the space. I was unimpressed with the "tired" and sterile looks of most office suites. I implemented a number of residential design features that has resulted in a very spacious and pleasant working environment. I wanted the space to reinforce an image of classical, professional and up-scale design. I know it has helped in hiring and employee retention.

I love the classical residential design elements throughout my space. The archways, interior glass- paned walls and elegant ceiling treatment work together to provide an elegant and up-scale work environment

I leased a number of small suites over the past few years. Most recently, I leased a 1,200 SF suite in a Class "B" building.

2,600 SF of Class "A" space that is uniquely designed to showcase the engineering elements of classical building construction.

With each monthly payment, I am building up equity. I turned one of my largest expense items into an investment for myself.

I hated looking for new space and the hassles of moving the most. I also did not like rent escalations and worrying if I am leasing in an "up" or "down" market.

There are two main reasons. I wanted an investment, and I wanted a permanent address.

I have better financial control. As I have mentioned, the investment benefit is great. But, now I have stabilized my rent expense into perpetuity.

Because I own the space, I was free to spend more on my interior improvements. I created an engineered-style marketing atmosphere that reinforces the sophistication of our designs.

I love the raw construction materials that are highlighted throughout the space. The design defines who we are as a customer walks into our office. In fact, our office was featured in Construction News magazine and News 8 Austin.

Various offices located throughout northwest Austin, including executive office suites.

1,500 SF of Class "A" office in Ladera Park at Jollyville and Duval.

I built extra offices to accommodate growth. In the meantime, I lease these offices to other business professionals. It’s great! I have other people helping me pay my mortgage.

As a smaller user, I was always "pushed around" by the landlord as he/she accommodated the larger tenants’ needs. I now have ultimate control of my office.

It was the only logical decision. I wanted to operate in a nicer office that would impress future clients. However, leasing did not make sense as the landlord would retain ownership of all of the improvements I paid for. I now have a stunning office, AND there will never be any rental rate increases.

The greatest benefit is the acquisition of a valuable asset. I never realized I could turn my rent expense into equity build-up.

My clients LOVE my space. They keep asking me who built it and how much did I spend. A few have even said it is nicer than his/her house. It has also helped me lure agents away from other brokers.

Other than the size of my larger office, I just love the fact that it is mine. No one can take it away from me in three to five years.

Ash Creek Homes Reception Space

We leased in a variety of different office situations until 1995, when we made our first office purchase. It’s been one of the best overall business decisions that we’ve ever made.

3,000 square feet in the Great Hills Village Office Condominiums at Loop 360 and Spicewood Springs Rd.

Our current ownership costs, after tax benefits, are under $20.00 per square foot.

We leased in several different locations over a 15 year period. As a "not so big" tenant, we got bumped around several times because a larger tenant wanted to expand. We also saw some wild swings in our rental rates on renewals…we moved twice just because the renewal rates were so ridiculous.

First and foremost, as an investment. As a stable, ongoing business, we realized we would be paying for office space for many years to come. It simply made sense to build equity and own rather than lease. Secondarily, we were looking for some predictability in our leasing rates, and an ability to customize our office’s interior finish specifically for the needs of our staff and customers.

It’s not a whole lot different than owning a home vs. renting an apartment. We’re now almost 12 years into ownership; we’ve paid off a significant portion of our mortgage and the value of our office has continued to climb.

We really believe that the higher-caliber interior finish of our offices has had a very positive impact on our business operations. We only get one chance to make a great first impression with clients, vendors, new employees and lenders. The general office environment says a whole lot more about your business than you may realize.

Since we’re owners instead of tenants, it made economic sense for us to design and build a nicer interior finish out very specific to the needs of our staff and clients. We’ve got an organized plan room, meeting spaces with built in areas to accommodate large blueprints, and good workflow and separation for employees. This would not have been practical for us in leased office space