Do you have a commercial property available for sale or rent purposes? Do you have a particular number in mind for the whole property? Do you know how you can get more out of your place?
The following are 5 broad aspects that can help you understand how your property is valued by the buyers/tenants and what factors can get you a better price for it:
The architectural design of the space matters the most because when a potential buyer or tenant approaches your property, they expect a precise structure and interiors that not only make the space appealing but also gives them enough space to set up their operations. A good design does not mean the place should just be beautiful, but it should also make the most of the available space without hampering on its aesthetic appeal. If you can make the area look more spacious than it is, then you can ask more money for the same size
Does your property have all the right security solutions like security grilles, fences, digital sensors, and systems? Safety is a must! Everyone prefers that the place they work in should be safe and secure. The site should offer peace of mind to the buyer/tenant. This aspect will project positive light on your property; helping you attract your prospects and ask for the desired value.
The features of your property will help you get a better price if you market them correctly. The math is simple- the more the elements, the more amount you can ask for! This does not mean that you should just load the place with high-tech systems and designer artwork because the location & size of the site dominates the price criteria than features, so make sure you install the right features that can suit the location as well as your desired price. Don’t waste your money on unnecessary features because that won’t help you get a notable return on investment.
Size is an essential aspect because some people have specific requirements regarding the size of the place. The number of employees, type of business and budget of the buyer is three significant factors that manipulate the size requirement for the property-in-question. If the size of your property isn’t big enough, then you can play with efficient architectural design to utilize maximum space, or just have a lower expectation of the asking price. If you want to omit the possibility of the latter, then the other four aspects can help you enhance the value of your property remarkably.
Furniture And Add-ons
Is your place fully-furnished or will you provide the desired furniture once the sale is complete? What are your plans about the add-ons that you are going to give the buyer, like a discount on cash purchase, reduction in rent if they rent it out for a couple of years or other appealing offers to make sure that the transaction is complete as soon as possible? Useful options can be adding one-month rent discount for potential tenants or 5% off on cash purchase of the whole property. By attracting potential prospects, you can understand what they truly desire, and quote them an asking price accordingly; a win-win for both the parties. Experts suggest that furnishing the property will fetch you more rent or value than keeping the space empty.
These aspects allow you to market the place in a better fashion, which can, in turn, help you negotiate a higher value than expected. The final cost entirely depends on your property and your negotiation skills, so make sure both of them are well groomed.
Author Bio: Martin Whorley is the MD of Attenborough Garage Doors a Derbyshire based business trading for over 20 years. He helps homeowners get the finish to the outside of their homes with stunning garage doors & gates supplied and fitted.