Top Features to Look for When Shopping for Property
Purchasing property is a huge investment that may allow you to gain a fantastic return for how much you're putting into it. Unfortunately, many don't look for all of the needed details when they're purchasing a property and may find themselves buying something they shouldn't. When you’re buying a property, make sure to look for most of these items to ensure it’s worth the cost.
A Fantastic Location
Location means everything, whether you’re buying commercial or residential properties. Where the property is matters for commercial businesses because it decides what employees will be able to make it out to you and how many customers are in your area. It also decides how easy it is for vendors to get to you and deliver whatever they need to drop off.
In residential properties, location matters because it's the deciding factor in how much the property is worth now and how much that number is expected to grow within the next few years.
Research the area around the property you’re considering, and avoid making a purchase without ensuring the location fits your needs.
Great Perks and Updates
Throughout the property, there should be perks and updates that catch your eye. In both residential and commercial properties, this might be a radiant floor heating thermostat or a smart lighting system that will help you save money.
Consider what you need from this building and what items might be in place to help make purchasing it more exciting. If you love cooking, look for a home with a kitchen that thrills you or has the size and budget so you can make a kitchen you'll fall in love with.
Curb Appeal You Can Work With
Curb appeal can be nice: but it’s important to consider more than just how the property looks when you’re visiting it. How much work and time will have to go into maintaining this curb appeal?
If the curb appeal is poor now, how much work and time would be necessary to bring it up to a level where it will look how you want it to? Is this a reasonable amount of time and work, or is it too much? If this is a commercial space, is it accessible to everyone, or will there be work required to get it there? This can be an added cost you might not want to deal with.
Moisture and Damage Resistance
Water is one of the most dangerous things in the world when it comes to buildings and property. If you're not able to keep moisture out, it can cause rot, mold, and other issues that will eventually lead to costly repairs. Instead of having to go down that path, look for a property that uses items like moisture-resistant paint, and has little to no risk of flooding. Although you may think a property won't flood just by looking at it, check a local flood zone map to ensure you don't make a mistake purchasing it.
Storage and Ample Space
Regardless of whether you're buying commercial or residential space: you should always buy a property with room to grow. The more room, the better. This refers to both the common spaces like bedrooms or offices, as well as storage space where you'll need to keep belongings and supplies. The more space there is, the longer you'll be able to live there and spread out into it. Every property is different, though, so if you're in love with a property and everything is perfect except the size, consider if there are any ways you can build more storage or space onto it.
Materials That Last Longer for Commercial Use
Commercial properties need to be built to last, so take the time to consider everything from the metal stud ceiling framing details to the way the exterior is built and designed. Does this property have high-quality floors that can handle tons of foot traffic, or does it have unfortunate carpeted areas that will need to be replaced?
Although some carpets can handle the wear and tear, it’s vital that you make sure you have the right one in that office. The last thing a commercial office needs is an old carpet that has fleas or bed bugs living in it.
Style That Works for You
What type of building do you find most attractive? Properties with EIFS stucco have become incredibly popular in recent years, and many people are moving towards properties that have details like larger windows and more attractive facades. Pay attention to what style or design catches your eye the most, and seek that out in properties that you're interested in buying.
Not Every Property Can Be a Winner
Whether you're buying your first commercial property or you're picking a location to flip so you can sell it soon; it's vital that you pick carefully. Consider looking for these items when you're hunting for your next property to invest in.
Ryan Shure is an editor for the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.