10 things to consider while purchasing a commercial property

The idea of moving your business into a new commercial space is an exciting one. However, it’s only half the battle. Jayesh Dave, MD of Jayraj builders Vadodara, lists a few important factors that must be considered before making a commercial real estate purchase:

Table of content

1. Location

2. Budget

3. Physical condition of the property

4. Property and its allowable purposes

5. Limitations to modify

6. Availability of support services

7. Infrastructure and neighbourhood

8. Take into account your deposit

9. Think with your head, not your heart

10. Hidden Costs

1.Location:

It is very important to consider distance from end user & suppliers. The business must be accessible to the end user to be successful. Also, connectivity via road, rail or water transport is required to run the business successfully.

2.Budget:

According to Jayraj Builders MD Jayesh Dave, it is critical for the investor to lay down the budget allocation towards the property cost amongst all other business related transactions. “This also helps in easy selection of the commercial property amongst the available options,” says Jayesh Dave

3.Physical condition of the property:

How the property was used before your purchase is an important thing to know about. This gives an idea of wear and tear the property in question must have gone through and what kind of repairs it might need in the future.

4.Property and its allowable purposes:

Every kind of business would put the property to a different purpose. For example, a CA firm would need an office space whereas a factory owner or a manufacturer would put property to industrial uses. Thus, it becomes critical to know the lawful use that the property can be put to before finalizing.

5. Limitations to modify:

Based upon the applicable laws properties have, there are restrictions on modifying the exteriors of interiors of the property. Jayesh Dave suggests studying the laws in detail and being clear of your requirements.

6. Availability of support services:

Services like parking, lift, security, etc. must also be paid heed to while finalizing the commercial real estate. If available, these services not only help in running the business successfully but also contributes to the resale value or determine a better rental in the future.

7.Infrastructure and neighbourhood:

Infrastructure development in the area affects the property value to a great extent – both positively and negatively. Developments like railway line construction might affect the value of your property value, suggests Jayraj Builders Vadodara MD Jayesh Dave.

8.Take into account your deposit:

Several businesses find it easy to ignore that they might need to place down a large deposit amount. It is important to think about how much money you have available, and whether or not you would be able to put down a substantial deposit.

9.Think with your head, not your heart:

It is vital to be rational while making a property purchase. Don’t just jump head-first into buying a commercial property without having done your fair share of research and considering other options

10.Hidden Costs:

Several properties have certain hidden costs associated with running and maintenance of the property. These potential costs must be estimated in advance and discussed in the contract itself before sealing the deal, suggests Jayesh Dave.


Got any queries? Let us know in the comments section!

 
Source: TopTen

Tips by Jayraj Builders That Make Your Home Appear Big

Everyone wants a bigger, more comfortable home. Ever wondered how can your tiny nest be transformed into a spacious home? With latest advancements in interior design, this seemingly impossible task has become possible. Interior design experts at Jayraj Builders Vadodara have come up with some marvelous ways to create some extra space in smaller homes.

• Keep it minimal

If you live in a rented house or cannot afford to remodel your house, you can pull out some extra space by moving the junk out. There so much stuff crammed in our homes that we seldom use. Keep only the stuff that you really need and donate or sell the extra stuff. A tidy arrangement of the things that are left would make your home appear more spacious than ever.

• Let there be light…

Lighting plays a very important role in the overall appearance of a room. In order to make your home look bigger, you can try removing the blinds and letting the sunshine do its magic. According to interior experts at Jayraj Builders, natural light tends to brighten up the surroundings, making a room look bigger. Alternatively, you could use indoor lights to create an optical illusion of a room being bigger than it actually is. Light colored wallpapers and paints also do the trick.

• Fold it up!

To create some extra space in your not-so-big apartment, you can replace your conventional beds and sofas into those which could be folded and transformed into something that takes up a tad less space. A bed that folds up and poses as a wall, racks that could be folded up into blinds, or a sofa that could be folded and transformed into a bunk bed are some of the options available.

• Perfect fit

Another way to free up some space in your home is to use pieces of furniture that could fit into each other, suggest interior design specialists at Jayraj Builders. A set of chairs that could fit up into one unit or a tea table that could fit with its chairs in the shape of a cocoon are some of the examples.

Have another space-saving idea? Let us know.
Source: Horizon Cottages