Commercial Property is a good investment for anyone to put their money in. However, it is very much important to understand the basics when you are buying a commercial property.
-Location: One of the major factors to look at is the location of the commercial property. The surrounding decides the tenant and income of your property such as availability of banks, bus or metro, eateries surrounding commercial establishments, etc. Having prime based locations is an added advantage commercial specific to the main road leads to more visibility and inflow of clients
-Structure: Commercial properties can be of various specifications G+2, G+4, G+6, and so on. It is as a buyer you have to decide which specifications suit you and how many tenants would you wanna have in your facility.
-Maintenance: Maintaining a building as a whole is a bit of a challenge. Just how the human body is supposed to have regular check-ups, your building also needs to be maintained on a regular basis. Common areas, basements, Transformer, Generator, Lifts, Security, Housekeeping needs to be maintained and have to be kept in regular check. The buyer needs to be ready to take care of this for the longevity of the building.
-Documentation: Documents of the building is a must and need to be carefully administered. The important things when purchasing are the plot size, built-up area, deviation verification, CC and OC, fire exits, tenant lease papers, ownership details, and much more. It is important for an experienced lawyer to have a look at the papers before finalizing the deal
-Income: Generally all the buyers give exclusive importance to the income which will be generated from the property. The term is “Return on Investment” or simply ROI which means the amount of money you will receive on your investment. It is important as it helps you track the expense of your maintenance and revenue for you to invest in other fortes of businesses.
In conclusion, commercial properties are a healthy option for people who want to invest their money and patiently wait for the income and are ready to take care of the building for a larger duration.
For more guidance and one to one discussion, you can reach to OwnersTown’s Real Estate Experts on +91 96202 46980.
