OFFICE BUYERS

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Office Buyer’s Guide

Owning a home is a dream for almost every individual who is well settled in his or her career And often, such homes are bought far away from inherited ancestral property. Which means, making the decision on home purchase is a rather tricky one, as it is a major investment for most individuals.

BUYING OFFICE

Here are a few factors that need to be pondered upon:

Meetings & Presentations

The first step is to understand the occupants’ needs and study the feasibility of the land and proposed buildings to be constructed on the plot. We follow it up with a brief presentation about the redevelopment overview. This includes the layout, draft plans, commercial terms, timelines, specifications, shifting arrangements and document requirements.

Budget

It is vital to do a fool proof budget planning beforehand. As the investment is steep, it is imperative to figure out the funds that would be required along with the miscellaneous business transactions. Leasing the property to manage the down payment and paying the mortgage for the remaining amount might be a good idea.

The Physical Condition Of The Place

The first step is to understand the occupants’ needs and study the feasibility of the land and proposed buildings to be constructed on the plot. We follow it up with a brief presentation about the redevelopment overview. This includes the layout, draft plans, commercial terms, timelines, specifications, shifting arrangements and document requirements.

Availability Of Amenities

As your space is a reflection of your brand, you need to ensure the amenities fit in with your needs. Services like parking space, lifts, electricity, the internet need to be up and running smoothly as they affect resale too.

Market Rent Vs. IN Place Rent

If you can, this helps you to evaluate the risk attached to the property. Comparing rents of nearly identical locations will aid in identifying the factors which might be the reason causing a difference in the rentals. This factor ensures you don’t end up paying a higher amount for an overrated asset.

Know Your Neighborhood

Keep yourself updated and informed about any development plans of the government as it impacts the business both positively and negatively. Also make sure to find out the chosen location is not prone to natural calamities.

Get Your Property Surveyed

It is highly recommended to hire a professional inspector for a full professional survey before paying the deposit as a huge investment is at stake. This is recommended for residential property too.

Future Opportunities

The space should have an option to be up scaled in future and also to be sold off in case your business is not well received.

Be Flexible

It is better to be futuristic. As you would be looking to expand your venture in the future, pick a place that can be modified as per your needs.