Commercial properties give business owners the chance to become part of the fabric of a city, helping customers, contributing to the community, and providing jobs. However, before you start working with commercial general contractors to design your new storefront, there are a few factors you should think about. Here are four considerations to make before buying commercial property.
What to Think About Before Buying Commercial Property
Every construction project is different, which is why you should carefully consider your timeline before breaking ground. Think about whether you want to open your doors in a few weeks or a few months, and keep in mind that buying and renovating can be a lot faster than building from the ground up. Talk with commercial general contractors about their upcoming work schedule to see how long your project might take.
Think carefully about how your location will impact your business. Try to choose a highly visible spot where customers can find you easily, and keep nearby construction projects in mind to assess competition.
In addition to talking with your commercial general contractors about project costs, evaluate your company budget with the help of a financial analyst. Calculate what you can spend each month on mortgages and rent, and don’t forget to factor in property taxes, parking costs, and building maintenance.
Also, think about where you want your company to be a few years down the road. Choose a property or building plans that can accommodate a growing business. That way you won’t have to worry about relocating too soon.
Whether you are looking to upgrade your existing company headquarters or you have been dreaming about breaking ground on a new building, the team at BHI General Contracting can help. Based out of Cincinnati, OH, this team of experienced commercial general contractors can help you with everything from renovations to ongoing maintenance. For more information, send them a message online or give them a call at (513) 330-5686.