You’ve heard it before – the key to making a great real estate investment is all about ‘location, location, location’, but what does that really mean? What makes a good location for investing in a piece of commercial property?
Traditional Retail Shopping Is Booming More Than Ever In Western Canada
More of you may be shopping online today, but traditional retail shopping is far from dead in Canada’s western provinces!
Alberta, Saskatchewan and British Columbia are all continuing to show incredible retail growth. This is not just a blip either, this retail growth is expected to continue to boom and produce record figures.
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5 Simple Tips to Follow when Buying Your First Commercial Property
1) Organize Financing Early
Financing a commercial property is very different from taking out a home loan. In some ways it can be much easier, and in other ways it is much more complex. Most importantly you need to be aware of all the costs involved, and that it can take much longer to close on a commercial real estate deal than a residential one. Make sure you know what types of appraisals, inspections, and engineering or environmental reports may be required. You also need to pay special attention to any lengthy pre-payment clauses, and make sure that you understand them clearly before signing on the line.