When I decided that I was going to put my house on the market, I knew that I would have to do some renovating first. The house was a good, solid structure, but I hadn’t kept up the outside of it as well as my husband did before he passed away. I knew that I would need curb appeal if I wanted the place to sell quickly. I had my yard landscaped, my home exterior repainted, and my driveway replaced before putting the home on the market. It cost me a bit of money, but it was worth it – the house sold quickly and I was able to move into my brand new condo – much less maintenance work for me. I started this blog about curb appeal, to help others learn how to move their homes quickly too.
Buying commercial real estate is a sure sign of growth for a business. When you purchase real estate rather than renting or leasing it, you're afforded a great deal more flexibility -- and you can rest assured that you won't need to change locations for some time to come. But it does come with some new transitions. Here are a few things you should keep in mind to make the changes easier.
1. Update All Your Insurance Policies
Many insurance policies will change when you are no longer renting but instead buying. While you may find that the property insurance related to your business goes up, many other insurance policies will go down because you are now in complete control of your environment. And, of course, it's highly location-based; if you're making a significant move, you might see other discounts.
2. Complete Your Build Out Early
When you lease a property, the build out -- the modifications to the physical structure that you require -- usually occurs before your lease begins. Don't forget to complete your build out early for your newly purchased property. As you'll be doing your build out on your own, you'll need to iron out any kinks before you get into business. Any build out may come with some minor issues, such as outlets being in difficult to reach areas or materials not arriving on time. Remember one of the major advantages of purchasing is that you can now create the build out that you want, rather than getting it approved by a property manager.
3. Arrange Your Amenities
Generally, a leased property comes with two major amenities: a handyman and a cleaning company. Make sure that you've arranged these services well in advance, in addition to a landscaper if your property does have outdoor areas. You can usually find the best services for the cheapest price by looking through online reviews, or you can even ask for referrals from the surrounding businesses. You don't want to wait until you need these services to call them! You usually have to schedule them and negotiate a contract in advance.
Choosing to purchase commercial real estate is almost always beneficial long-term; it will improve your company's credit rating, add on a significant asset, provided freedom and stability and look better to investors and clients. A real estate professional can help you find the perfect property for your business and can explain more about the benefits of purchasing over leasing.
For more information, contact Western Realty Group Inc. or a similar company.Share
11 May 2015