Buying Commercial Property For Sale is always a very serious investment, and this should be done very carefully. A lot of things should be kept in mind before you make such a huge investment because it directly impacts your business. A good commercial property can greatly one-up your business, while a bad one can put huge losses. We have compiled a list of factors which should be considered precautionary when investing in commercial property.
Depending on the nature of a business, you need to specify exactly the kind of location you need. For example, if you are planning to buy a commercial property to open a retail shop in a residential area or a commercial area within a residential society may be a good idea. However, if you want to set up a corporate office, it is important for you to stay away from residential areas. Location is one of the most important factors of marketing in today’s world, and that is why you should pay utmost attention to it. You need to be very specific about the kind of location from where you want to operate. Evaluate your business needs and ask what kind of location would work in your interest. By that, I mean if your business needs a corner location, a place from within the commercial buildings or any specific place. Again, when selecting a location for your business, do not overlook the floor as it’d further help you in establishing your business image. Ask the property advisor to show you different premises to evaluate what goes with your business needs and select the right location and floor to operate from.
Most of the commercial plazas or shopping malls that deal either with a large number of employees or who deal directly with a large number of customers cannot survive for a long time in any society unless they provide proper parking place. It always depends on the nature of your business; always look for a property that provides you parking space that suits your requirement. Parking is always an important thing for any plaza, shop or shopping mall. Suppose if you are planning to build a supermarket and you don’t have enough parking to meet your customers need than where will your customers park their vehicles. Shortage of parking place or no parking can divert your customer’s mind to shop from another supermarket who have their own, enough and secured parking In this way, you will lose your customer as well as your reputation. So always purchase a property for commercial reasons, where you get enough space for parking.
CONDITION OF PLAZA
Always make sure that the building in which you want to buy a shop or a floor for office unit meets all safety standards, for example, fire exits, wheelchair ramps, and elevators etc. In case of a smaller commercial unit, ensure that the wiring is high quality and that there are no issues with provision of basic utilities. Hire an expert to confirm that the building is sturdy enough and fit for commercial use. Do a walk through all the emergency exits when you visit as well. If plaza is just constructed, you should check that whether it is fully furnished from inside and have a good look from outside and if plaza is renovated it should meet the modern technologies and designs. Very big kind of plaza or building can also be dangerous if it located in the area, where earthquakes may happen.
AVOID RESIDENTIAL AREA
Again it depends completely on the nature of your business, sometimes avoid commercial property in residential areas and sometimes buy commercial property in residential area. Now here I want to show you how both are in fact 100% true. If you are looking for an office and require peace and quiet than avoid it in a residential area. Depending on the nature of your business, it may also be illegal according to the building laws of Pakistan. It will make a terrible impression on your clients if your office nestles in the middle of residential houses, and the sights and sounds often don’t get along with a professional setting. Suppose if you want to open a showroom of cars, it will not produce good results in the middle of a residential area and on the other hand if you are planning to open a small kind of grocery shop it may give good results in the residential area.
NETWORK AND SIGNALS
During your assessment period, take your laptop, Wi-Fi device or mobile phone to the building and check all the signals. Business operations or office works cannot take place in a building facing problems with internet and mobile phone signals, and it is always a good idea to check beforehand. Also keep in mind that not just the availability, but reliability and speed as well matter when it comes to smooth and efficient working. All of these things, according to an international research, are part of a list of factors that directly affect employee motivation as well. You cannot expect smooth working without provision of fast and reliable basic utilities and communication and information services.