You know you’re ready to open or expand your business, and you’re wondering, “Should I rent space? Or buy commercial property and build?" Purchasing a property helps you enjoy higher flexibility and freedom, but the search for commercial property that suits your needs can be difficult. Here, Team Nest Builder offers tips to ease the process:
Location, Location, Location
Make sure you buy land that’s in an ideal location, not just for you, but for a range of future business-owners. Should you decide to move your business and sell your commercial property, you’ll attract more, and better, buyers.
Off to Market Analysis
Carry out a market analysis before you even choose the land to determine the market value of your property. Don’t be tempted by far-flung cheaper parcels of land when a perfectly situated, high traffic location is staring you in the face. Based on your market analysis, if the value of your property appreciates while your business grows, you’ll be better able to decide if it’s feasible to move your business to a bigger space.
Pause For Commercial
Never assume that because land is located nearby a commercial area, it’s available for commercial purpose. Evaluate the property before starting any transactions. Get professional advice from a trusted real estate agent with experience in commercial properties. Visit the local administrative land office and seek the right assurances on the land classification.
Seek Professional Help
Purchasing a commercial property requires you to focus on various aspects while ensuring that the entire process of the transaction goes smoothly. Working with a professional real estate agent with experience in commercial property, especially an agent that truly knows the local areas you’re considering setting up shop in, is key to a successful commercial property purchase.
You’ve made the huge decision to open or expand your business. Don’t let the property purchase become a huge headache!
Interested in purchasing commercial property for your business? Contact Team Nest Builder’s Lynn Garafola at 973-222-3777 today! Interested in purchasing prime commercial property in the heart of Sparta, New Jersey? Click HERE to view our newest offering! Liked this article? Check out our blog for loads of helpful information on real estate, home improvement and community events!
Additional Source: realtybiznews.com