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Consider The Following When Buying Commercial Real Estate

| Jan 8, 2021 | Real Estate

If you’re in the market for a commercial lot that you can develop or a building you can use to start your new business, you need to know exactly what to look for. The real estate that you choose could help to define the level of success your business sees. It’s not all about the bottom line and getting the most for your money. You have to get the right property.

Questions to ask

What should you look for? Start by asking yourself a few questions so that you know exactly what is on your list of must-haves:

  • Do you want a building you can use right away or something you have to renovate?
  • What are the taxes and other costs going to look like?
  • What zone is the property in and will that zone work for your business?
  • Does the property give you room to expand as the company grows?
  • What location do you want to be in? Is there an ideal location and a secondary option?
  • What type of clients are you trying to attract?
  • When those clients or customers come to your company, what impression do you want to make?
  • How much capital do you have to invest in the property up front?
  • Are there any limitations in the way you can use the property?
  • Does the property have enough parking?

These are merely a handful of questions to get you started. This can be a long and important process, so be sure you know where you stand and what legal options you have.