Many make the mistake of thinking that buying commercial property is the same as purchasing a house. A property is a property, isn’t it? As such, they make the mistake of using their home hunt checklist during their search. But, while there are crossovers, these two property hunts couldn’t be more different. As such, relying on what you know could leave you with an unworkable property.
Shutterstock licensed photo – By Pixachi
The main problem is that buying a house for yourself is a matter of the heart. Looking for commercial real estate, however, should very much be a case of your head guiding the way.
While you may look out for character in personal property, it has no place in commercial options. What’s more, focusing on things like this could lead to disaster. But, that begs the question of what you should be looking for. And, that’s what we’re going to consider here. During your search, ask yourself these questions to make sure you get things right.
Is it accessible?
The first thing you should ask yourself is whether a property is accessible. Is it easy to find, and get into? This is essential, even if you won’t be hosting customers there. After all, you need to be sure staff members can get to work, don’t you? As such, you should avoid properties which are too out of the way. While these would be ideal for a private country retreat, they’re sure to make everyone’s lives that bit harder. If you do want to attract customers, look out for a property in an area of high traffic, such as a town or trading estate. You can be sure your business will perform better in areas like these. You also want to make sure your entrance is easy to find from outside your vicinity. It may seem strange, but a customer with no reason for loyalty may give up if they struggle to find a way in!
Does it serve your purpose?
It’s also essential you ask yourself whether this space serves your purpose. Some things, such as power sockets and workstations, can come later. But it’s vital you can envision them in the area before buying. If there isn’t even anywhere to desks to go, you can’t exactly add them down the line. Think, too, about how the space would serve you with regards to storage. Often, this is the main reason for investing in commercial property. As such, you must consider whether that office space can hold as much stock as you need.
Is there room to grow?
It’s also worth noting that buying a business property is expensive, and you don’t want to do it again anytime soon. As such, you need to be sure there’s room for your business to grow in this space. To be sure, take measurements, and work out whether the results would allow you expand. If it only offers space for as many staff members as you have at the moment, it might be best to look elsewhere.
