Buying a commercial investment property is much like finding the perfect dress for your wedding. It’s a crucial and important aspect and one that comes with a long list of requirements, many of which are non-negotiables. We simply cannot have it any other way. What are these, you may ask? Here, take a look.
FOOT TRAFFIC – In business school, this is defined as the level of public exposure an establishment gets and is measured by the number of people that is exposed to it regardless if they are customers or not, whether they buy or not, whether they enter or nor and whether they walk past or drive by. The higher the better. Metropolitan districts and densely populated areas are examples of such places.
SAFETY – We want assets to be safeguarded ad this means choosing a property that is safe from structure to location.
MARKET VALUE – For obvious reasons, the higher their value at present and in the foreseeable future then the better. This means that the owners get to capitalize on any gains there are as time goes by.
LOW ONGOING COSTS – Maintenance costs are a huge part of owning a commercial investment property. They do not form part of the list price but instead are spent after the acquisition on a regular basis. A high number means they are expensive to own and to keep functional.
CONVENIENCE – Choose ones that are accessible to and from for customers, employees and vendors altogether both for public and private transport. A commercial investment property would cease to be effective if people find it difficult to reach.
FLEXIBILITY – Investing in a property that allows for multiple uses makes a great investment because its versatility is good value for money. If it can easily be tweaked as needs change overtime, it becomes a space that does more than needed.
ADEQUATE SPACE – Commercial teal estate must have enough room for everything and everyone. The exact dimensions however will vary as users needs are alao different.
LONG USEFUL LIFE – Why invest on something that wouldn’t last to begin with? That’s just a total waste of money and no investor seeks that.
LOCATION – The location of a commercial investment property says a lot about whether or not it adds value to the business and by how much. It is also a driving factor that affects the presence or absence of the above aforementioned features.
Buying a commercial property is one thing but creating a productive space is a whole other task on its own. It’s challenging too and all the more because we have to be both efficient and effective at the same time. Additionally, we need to blend the perfect balance between aesthetic and function starting off with colors.
Most people would come to think of choosing colors for an office as something like buying toilet paper. It’s a must and one that doesn’t require a lot of brain work. But in contrary, hues play an integral role not only in establishing branding but also in providing visual cues that nurture productivity and creativity in the work space.
But how exactly do we pick? What separates a good choice from a great one? We’ve got some tips!
Consider the logo. The elements and hues in the corporate logo play a huge role when it comes to picking colors. This however does not go to say that we should paint all the walls and buy furniture in the said hues because that can be too overwhelming. Opt for accents or details instead.
Think psychology. Science tells us that hues have a subconscious effect on people especially when exposed to them during prolonged periods of time. For instance, many companies choose blue for their logos to signify loyalty and trustworthiness while restaurants go for red, orange and yellow interiors because they increase one’s appetite. Offices are no different. To better illustrate here’s a list of the more popular colors and what they mean.
Blue — Promotes a sense of trust, loyalty, efficiency and communication. It’s known to harness calmness which is why it’s known to lower blood pressure, respiration and heart rate.
Yellow — It’s a high energy hue that stimulates optimism and energy. But too much can be too loud creating anxiety or even building bad temper.
Orange — It generates enthusiasm and is known to help boost creative performance. Like yellow, it’s a high energy hue great for creative spaces.
Red — An appetite and brain stimulator, red is best for offices with a lot of physical activity or graveyard shifts.
Green — Of all the hues, green is the most eye friendly. It also boosts creativity and innovation and even promotes harmonious balance.
Choose the right intensity. How intense a certain color is affects how we respond to it. This is why darker shades can sometimes feel cold or too stiff, pastel shades can be innocent and sweet and brighter shades are loud and energetic. Additionally, highly saturated hues are more stimulating which makes them great for brainstorming rooms while low saturation colors are more calming.
Buying a commercial property for your business is crucial because it can either make or break your success. All companies need space and more than that it needs an effective area to house its operations. It’s not easy to find the perfect asset in the least amount of time so to help you on such a humongous endeavor, here is a cheat sheet to guide you along.
LOCATION – This is an item that you’ve pretty much heard of again and again and for good reason. Location is after all a big player in terms of business especially in commercial spaces. The more convenient and easily accessible it is then the better. Plus, heavy foot traffic always provides great exposure. Businesses need to be reachable in as little effort as possible so always op for properties situated accordingly.
ONGOING COSTS – You do not want to buy an asset with hefty repairs and maintenance costs as that will surely call for large expenses in the long run. Before closing out on a deal, be sure that you’ve got the numbers checked first.
FEATURES – Depending on your industry and your use of the commercial property, there will be features that you require and you have to make a list of them beforehand. This shall help you target down on the listings that match your needs so you don’t end up wasting time looking around choices that do not fall within your requirements.
USEFUL LIFE – The longer the asset’s useful life is then the better. As the name suggests, this pertains to the length of time by which the property is considered to be functional or useful for its users.
DEPRECIATION – Assets depreciate in value and the lesser the rate then the better it will be. You do not want your property to go zero in just a few years. Plus, it would be best to actually invest in something with appreciation potentials or those that tend to rise in value over time. This is seen in many growth areas and highly sought after locations. Businesses can earn from the capital gains in time should it cease to make use of the property and want it sold.
PRICE – When buying commercial property, you have to make sure that you’ve got the market value validated and all. You do not want to be overspending on an asset that costs significantly less. Always call for a surveyor to get this checked.