Investing in commercial property requires some calculations beforehand. It’s not like one fine day you get up and decide to expand your business. Definitely you contemplate and make strategies to affirm that you do not make any mistake.
For example if you are looking for a commercial property for sale in Bangalore, you need to identify with the location at first place. Real estate market in Bangalore is huge; besides the city is IT hub and pivot to important activities in the state of Karnataka, hence several commercial ventures have already being established. Therefore the market goes competitive and locating a property mid of all the amenities and facilities can cost you a fortune.
Therefore it becomes essential that a thorough market research is done before any investment is taken up.
5 Do’s Before You Settle upon a Commercial Property
Learn the Difference: – The most important thing to remember is how the commercial property is different from residential property. You need to learn few basic points as in what is the difference between the commercial and residential property. Besides just using the property for your business, there are other basic differences to be drawn as in what are the amenities required, the location chosen, the growth prospects and future benefits associated.This will help you in careful planning.
As residential property location is different from the commercial property. In fact you would chortle at the thought of establishing a BPO unit in the residential society. Avoid such sites and look for a location that adds to the growth of your business and has huge customer base for products and services you sell.
Set your parameters: – Before selecting any property, it is imperative to cross examine and see that whether property meets your requirement criteria’s in all possible ways or not.It is indispensible.
Check to determine that does the commercial space meet your present and future expectations or somewhere you are compromising, because you are unable to find better options. In such a scenario, hold on your investments, don’t be haste as you are investing big and repentance later might be something you would loathe to go through.
Try to make most out of the deal made. Don’t compromise on your choices as you are making huge investment.
Location: –Remember you should never overlook this. Look for a professional ambiance. You can choose a space in commercial complexes or in a marketplace but don’t get it somewhere amid residential places. You may not get many customers there. Also if you think of expanding your business base, then how hard you try wrong location turns to be an impediment to your growth.
Growth Prospects: – If you are taking a property on rent, then you can surely skip this point, but if you are making a purchase, then you need to stop and contemplate it over.What is the growth history of the property? If it’s a newly constructed venture then how does the property tends to grow in future is essential to know.
Remember you would never wish to invest in a property that fetches no returns in future.
Find Best Property Agents: – If you are new to a city and looking for assistance from property agents, talk to the renowned ones. Make a list of all real estate brokers; check their profiles and years of experience, as all this really matters.
Experienced players have wide network and are well acquainted with property market trends. These agents may charge a little higher but assures best deals as they never want to ruin their image in the industry by providing bad deals to the customers.
Subhadra B hadauria is an ardent writer with leading real estate site 99acres.com. She is a regular blogger, contributes her pieces of writing on various online portals and updates the keen investors about the changing scenarios. Real Estate in Bangalore is in high buzz; therefore the writer highlights booming scenario of the city and unravels the commercial property avenues there.
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