Investments refer to things that are worth buying because they can be useful, profitable or both at present and in the future. What are examples of it? This includes shares of stock, jewelries and automobiles. Fixed assets or shall we say properties are definitely one. That being said, what are the characteristics of promising commercial properties for sale? Below is a list for your guide.
QUALITY OF THE LOT – The land or the lot itself has to be of good quality. This means that it has to be fit for the type of structure that is planned to be constructed on it or has been built on it. For example, there are areas where high structures like skyscrapers cannot be built on them and there too are those that are best used as farming and agricultural lots instead.
STRUCTURE DURABILITY – If the commercial property is a building or part of it then it has to be durable not only externally but internally as well. This makes it a good idea to ask for the building’s blue print and have it examined beforehand to ascertain its condition.
SPECIAL FEATURES – Depending on your needs and preferences, certain commercial properties may come with particular features. Examples would be a garden front, a huge lobby area, a certain number of floors and rooms, a balcony, a large function room, etcetera.
NEARBY ESTABLISHMENTS – The value of a particular property is very much affected by its location and commercial assets need the appraisal because they are first and foremost about business. This is why those that are situated beside, adjacent to or near key structures and establishments (e.g. roads, hospitals, educational institutions, malls, offices, etc) are considered promising compared to those that aren’t.
SECURITY AND CRIME RATE – At the same time the peace and security are topmost concerns for many which are why those that are located in areas with low crime rates and provide better security for both residential and commercial establishments and its people are deemed best.
LOW REPAIRS AND MAINTENANCE COSTS – Ongoing costs are a concern too. Even if the commercial asset is sold at a low cost but its repairs and maintenance expenses bloat over time, they are still not considered good investments.
GROWTH AREA CENTERED – Another way to spot promising commercial properties for sale is by looking at new building constructions and structures. In most cases, if the said project being built creates jobs, provides the country income, brings in investors and betters the economy then it increases the value of all other assets near it.