Investors tend to gravitate towards what they know – and most people know a lot more about home ownership than they do about commercial property. Which makes sense why the majority of investors are focused on building their residential property assets.
Besides – there’s a lot more homes out there than there are shops, naturally.
But, for the astute investors – commercial investments can be a little bit exciting. Why? There’s a number of reasons – including but not limited to:
- Higher Yields
- Lower Maintenance Costs
- Longer Lease Terms
Sounds pretty great – right? It can be – but all investment needs to be thoroughly researched and vetted before you take the plunge.
While property is property, there are differences within the ownership of residential vs commercial that you do need to be aware of. Things like vacancies, ongoing costs, what you can and can’t recover are all items you need to consider.
Knowing your property, the area, the types of leases you might achieve and your risk profile is highly important to know if you’re making the right decision. A good agent is invaluable in helping you make this decision, whether they’re the selling agent or engaged as a buyers agent for you.
Are you looking to buy or sell commercial property soon? Get in touch with us today to see how we can help!
We will be exploring more about the benefits of commercial property in depth in our future posts, so stay tuned.
