Investing in a commercial property that meets your unique requirements, looks at the future prospect, and supports your thriving business is a tough call.
Not only this but purchasing a commercial space is a long-term commitment and a crucial decision.
Whether you are looking for investment property or leasing office spaces for your business, we have you covered.
In this blog, we will share our 7 best property investment tips to make a smart financial decision that will help you shortlist and finalize a suitable commercial property.
1. Location is the Real Deal
Location is the first and foremost factor to consider when investing in a commercial property.
Rate of the property, RERA approval, and current market trends rely on space’s location.
Moreover, the property/locality should be well connected with the transport lines, metro stations, and other parts of the city.
Beyond that, office space in a prime location will ensure proximity to world-class amenities and IT and business parks.
Finally, the property should be accessible for customers/clients and have conveniences such as eateries in the vicinity.
2. Look at the Builder’s Credibility
The credibility of the builder is something you should never overlook when investing in commercial properties.
Running a quick check through the previous projects and analyzing the number of successfully completed projects by the builder will give you a fair idea of their trustworthiness.
The success rate will also reflect the builder’s market knowledge; hence, it is a significant factor to weigh.
3. Look for Construction Quality
A robust infrastructure always supports businesses’ escalating requirements.
Therefore, look out for the construction quality and the interior of the space when Investing in a commercial property.
This also means checking the property’s susceptibility to natural calamities such as earthquakes.
Moreover, analyze if the investment property can accommodate and aligns with your long-run goals.
These considerations will help you learn the space’s current condition and how much maintenance it will require.
4. Look Through the Paperwork
Whether you are planning to purchase or lease the commercial space, it is always advisable to learn how to check the land documents and put some thought into the paperwork.
While buying the space requires you to ensure procuring necessary registration papers, leasing requires you to secure a contract of at least 5-7 years in place.
Lastly, do not forget to look for flexibility in the leasing structure, lock-in period, escalation period, and more.
Investing in a commercial property is a long-term commitment between you (business) and the owner of the area.
Therefore, it is best to put some thought into the leasing structure and learn its viability for your business in the long run.
5. Check for Futuristic Interiors and Amenities
The place you set up your business contributes significantly to its success.
Having readily available amenities will make your everyday operations seamless.
An ideal commercial space has facilities like:
- Parking space
- HVAC system
- Water and electricity supply
- Robust internet connection
Finally, you should check if space comes with flooring, wiring, air conditioning, cabinets, and more, or not.
6. Market Dynamics
Based on the requirement for the property, it’s best to brace yourself with some market knowledge. And learn the best time to purchase land.
If you are looking to invest in office spaces, then you should consider the coworking spaces and other facilities available in the locality.
Moreover, upcoming projects will also impact the market value of the property.
Other things to learn about are the market drivers and current government policies for a low-risk investment.
All of these factors alter the cost of the investment property hence should be counted.
7. Consult an Experienced Realtor
Investment in real estate requires an eye for detail and impressive market knowledge to assess the property’s value.
A professional realtor will assist you in every step and guide you in making the prime choice for your business.
On the Closing Note
Noida is a preferred spot by top IT/ITES companies and thriving startups, given the amenities and growth opportunities available. These 7 Property investment tips will give you a head start for your property search.
Reach out professional realtors at Buniyad to further aid your purchase decision and make a wise investment.