Buying Commercial Property
Property investment is a great way to ensure that your money is working for you. At a time when savings accounts are offering a pittance in interest rates and the financial markets are still struggling to recover from the events of the 2007/2008 crisis, land represents a stable commodity with guaranteed demand. Simply put, no one is making any more land. There is no danger of a strong increase in supply and a fall in rents, especially as the population is increasing.
If you’re looking to buy and list property for rent in either the residential or commercial market, you need to be sure that you’re getting the best return on your investment. So how do you do this? Firstly, and most obviously, you need to avoid overpaying. The less you pay to purchase the property in the first place, the more quickly you will be able to recoup your costs with the rent that you charge. If you get a good enough price, you might even be able to undercut rival landlords, ensuring that your property is always in use. Secondly, however, you need to bear in mind that sometimes the more expensive property is worth the increased outlay. As famous investor Warren Buffett says, it’s better to buy something good for a fair price than to buy something fair for a good price. A shopfront property might be going for cheap, but shifts in the retail market mean that it could be better to purchase office space or residences.
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