Considerations To Be Made Before Buying A Commercial Property

By Author: Akshay Argade
Total Articles: 38
Comment this article

Buying a commercial property is quite different than buying a residential property. The parameters to be considered before making investment in commercial property is totally different than those of the residential ones. If you are actually eyeing a commercial property and are pretty new in this deal, then this article is just for you. Let us do a quick check as to what are the considerations you should make while making an investment in a commercial property.

1. Type of the property- Before making any decision, evaluate what kind of a commercial property you are looking for. Is it a store space in a shopping mall, or a office space in a building, or a land.

2. Look for property matching your budget- Once you have made the decision, start looking for a property that matches your budget. Yes, it is important to match up with your budget specially if you are buying it for the purpose of investment and not the dire need. It is not a good idea to go overboard specially in case of property investment as you may end up messing up your regular expenses and savings for emergency.

3. Evaluate the location- Evaluation ...
... of the location can be done before or after finding suitable property(s). Specially if you are too strict on budget, you may not find a property in your preferred location. However, even if you do it latter, evaluation of the location is important. Consider the type of property and if the area is suitable for it. Say you are looking to buy an office space, a location in or atleast near the business hub will be more profitable even if it is a bit low in terms of facilities. Whereas a well-facilitated plush building at the outskirt of the city is likely to fetch you less. Similarly a land suitable for factory site should have good drainage facility and enough open space around. If you are looking for a store space in a mall, check out their daily average footfalls.

4. Rental income- Before putting in your money, you must well consider how much it will fetch you back. Make a good market study and further better consult a good property consultant about the market value of the property.

5. Negotiate a good deal- Negotiation is the mantra for any good deal. Do a proper and logical negotiation till you are making out a best deal for yourself in terms of money, locality and property features. Specially keep sharp eyes for any additional and hidden costs as they are likely to overload you later if not considered before hand.

6. Maintenance costs- Maintenance cost is mandatory be whatever property you buy, residential or commercial. And therefore do a proper evaluation of the age, built, and condition of the property before hitting the final deal.

It is always advisable that if you are new at something, look for a proper guidance. And in this case who can be a better guide than Akshay Argade Real Estate consultant. Akshay Argade has been established in 2012 by a management graduate who envision 'to provide the best, to the best'. The agency specializes particularly in the properties at Navi Mumbai. Presently, they bring an once-in-a-while opportunity to pre-book the commercial property in CBD Palm Beach road. It is a 3000 meter CIDCO tender plot at the heart of the Navi Mumbai business hub. The final structure will have G+12 floors. The lower floors with have space for showrooms and shops while the upper floors will be for the office space with high class amenities. It has been envisioned to contruct the building with finest of the facilities and plush structure. Therefore, it is advisable to hurry up as this deal is too good to miss out on.