When it comes to buying a commercial property, there are many aspects you want to consider before making the final decision. Not only do you need to think about what property you want to invest in, but also who you want to buy it from. When it comes to this type of industry, we tend to focus on numbers far more than seeing the investment for what it actually is. Just because the value of the commercial property is very attractive, doesn’t mean it will be a good investment for you.
There are two simple, but very important factors you want to consider: will this property increase in market value over the next few years & is my commercial agent experienced within this industry?
If your commercial agent cannot provide you with useful and important information, not just around the property itself, but also other aspects like the location, transport, helping you find low-interest rates and more, then you may want to re-think who you are doing business with. We have come up with a few tips that we believe you need to consider before committing to buying a commercial property, so keep reading!
Firstly, you want to create a checklist that covers all of the crucial factors that you need to look into. This checklist should look something like this:
Once you drop down all of the important points start working through them & speak with your commercial property agent, as they will be able to guide you or even offer to complete some of those tasks for you. Find out more about the commercial property The two important questions you most likely already have is ‘will this property be a good investment for me & can I trust my commercial agent to give me a good deal?’.
The only way you will be able to find out the answer to those two questions is by doing your own research. Conduct research into the actual property to make sure that there are no hidden surprises and to see what you can do to increase the value of the property itself. One thing you always need to remember is that if your commercial property value declines, this could decrease your business capital. Hence why the research stage is vital to make sure you’re making a smart investment. It is a long term gain when it comes to buying commercial properties, so you need to ask yourself ‘is this property worth the current market value & how can I continue increasing its value in the coming years?’.
Your commercial property agent should be able to answer these questions too, so consult with them. The more you engage with them, the more you will understand if they are someone you want to do business with. It’s all about their knowledge and how well they are working with you on buying these commercial properties.
When you are dealing with a company like Ultimate Connexions, which is a commercial property estate agent in Luton, Bedfordshire, you will get the best expert opinions on the properties and how good of an investment they will be to you. Their buyer's guide gives you a good idea of how they work as a company but most importantly gives you a lot of great tips on what you need to consider when buying a property.
Set up a meeting with the agent to visit the actual property and to answer your questions. Make sure to get all of the information you can from them in writing, by asking them to send you a follow-up email with all of the details they have shared with you during that meeting. This will not only help you to make sure you didn’t forget anything but also in future, you can always refer back to the email for full transparency.
Now you know where you need to start when looking at buying a commercial property, so begin your research and start inquiring. Ultimate Connexions has many commercial properties for sale & for rent available now. Get in touch with the team now to find out more!