Posted by Art Of Legend India [dot] Com On 10:25 PM
Short Summary: Helpful tips on real estate purchasing and relocation.
Commercial real estate has many other caveats that need to be considered over domestic property. If you are buying or relocating, there are many things you need to take into consideration. Below we will go over some of the aspects which may give you an easier ride.
Good preparation and planning are always good steps towards a smoother route forward. You need to plan out carefully all the criteria you require in your commercial property, which are priority and which are optional.
Your commercial property may be for industrial use offer just rental use. Either way you should have a list of criteria, what is the most needed.
Cost per square foot or metre depends on many criteria, no matter if you are buying or renting. Many companies try and buy their property close to town centres or cities thinking that this will be nearer their customer base. First, try and look at properties that are outside busy areas, as these will give you the best prices and also car parking space and ideally extra room for storage. Easy links to motorway networks and roads are important to many companies, but you need to weigh up the pros and cons of costs versus convenience in all cases.
Deciding factors may also include local rates and costs. All these aspects need to be planned and considered before you make a choice.
Unless you are setting up a brand-new commercial premises, it may be that you are relocating due to a variety of reasons.
Relocation for a small business may not be a big job, as there are less things to consider.
If you are a company which have a lot of plant equipment and machinery that needs to be relocated, then you may need a specialist company to take on this task and make sure your new premises are set up and working just like your old ones. If you are in this boat, try and find some reputable machinery relocation specialists within your area that can take on these duties.
Compared with residential properties, investing in commercial properties typically requires an initial down payment that is of a much higher percentage of the total cost. As a result, it is especially important to do your homework on commercial lenders in the area before agreeing to finance through any one company.
There are specialist companies who specifically deal with commercial real estate and all the intricacies that go along with this area. It is an idea to contact a few of these companies, give them your criteria of all your specifications and see what solutions they can come up with for you.
You don't have to sign on the dotted line, you just need to see how good their services initially. Always ask if there are any ways that they can help you in the process with additional services. Like the old saying, if you don't ask you don't get.
Commercial property has its own considerations which need to be planned meticulously for each individual or company. There are many deciding factors which going to a well maintained property which fulfill all the needs of the workforce and the business.
Location can be very important for some, so always consider this aspect at the top of your list. Always be open-minded to potential properties and if you need relocation specialists, then make sure the company that is involved can cover every aspect of your needs.
If you planned in detail all the aspects for a move, relocation or purchase, then the process should go as smoothly as it possibly can.
Jim Saunders has worked for machinery movers and specialised transport companies for over 10 years. He currently is a consultant for large commercial relocation projects throughout the UK.