Commercial Real Estate
Building your business from the ground up is no small feat. Taking the leap and purchasing commercial property can be intimidating, so here are some things to keep in mind.
Consider Advantages to Buying
Buying property as an investment or to support your business is considered commercial real estate. Along with that comes a unique set of perks. Not only is it an opportunity to build equity and make monthly expenses more predictable, but there are also tax advantages. Having your own property allows you to deduct mortgage interest, property taxes and more.
Find the Best Property
Depending on your risk tolerance, business goals and intended use for the property, finding the right fit can be challenging. Location is arguably the biggest factor, followed by zoning and other legal considerations, environmental or liability issues, and parking and access.
Work with Experts
You will want to assemble a team of experts to help guide your purchasing journey; a commercial real estate broker to help you find a property, an accountant to advise on business financials, a lawyer to help facilitate the transaction and a commercial lender to secure financing needs.
