Are you looking forward to building a commercial building?
If that’s you, we know how overwhelming it may feel. However, our team at BluWav Capital has the expertise and experience to help you in such amazing enterprise.
For that, we came up with a list of 3 things to consider before actually building. If you have the vision and a project, these may be some ideas worth considering!
3 things to consider before building a commercial building
Building a commercial building does not have to be a risky business. If you do your research and have the right information, things can go smoothly!
In any case, here are the 3 key ideas for you to keep in mind.
Building a commercial building: it’s all about the location
Location, location, location! You’ve probably heard this mantra when real estate agents assess property values. It also applies to commercial buildings. As commercial building is a very important investment, you do have to choose well where it is going to be located.
By analyzing specific indicators: investors can systematically evaluate their choice of building location and be confident in their decisions. There are warning signs to pay attention to in order to minimize risks before choosing a specific location. Let’s point out some of the factors to pay attention to.
Accessibility to customers
A building’s proximity to nearby transportation systems affects its accessibility to customers. An investor must also assess the walkability of a building. If the building is located within walking distance of a restaurant, is a good sign for business.
Make sure your location does not have a building moratorium. Before buying a property, investigate the condition of nearby infrastructure, such as fire hydrants and pump stations, to see if they are sufficient or if new ones need to be added. Also check the sewer and water lines. If they don’t exist, it can be very expensive to install new ones.
The best advice for investors is to look for economically stable areas to invest.
They can look at the area’s labor market, median wages, and job growth. In economically depressed regions, lack of maintenance and general poor condition can be a setback in attracting customers.
Understand building requirements
Before starting construction, the requirements of the building must be established according to the characteristics that are needed.
You have to take into account the size, number of rooms and occupancy. It is essential to have the participation of an architect so that he can adequately capture her needs.
In this way, a vision of the project and a platform to build the substantial parts of it are obtained.
Permits, zoning and local laws
When building commercial buildings, everything must be done in accordance with the zoning laws and permits that govern construction in the area. There may be restrictions on colors, floor heights, and other surface requirements.
It would be best if provisions were also made for the conveniences of modern technology to suit your building plan. Some tenants demand some amenities such as wireless Internet, parking and gyms.
Still don’t know how to move forward? Contact our team of experts and let us guide you!
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