Is It Time to Get a Commercial Property for Your Small Business?

Posted by Bill Hubbard Century 21 on February 10th, 2021

Are you ready to take your online business to a real and thriving business with a physical space? How about going from renting a place to owning a commercial property in Vernon?

The idea of buying and owning a Commercial Property in Vernon can seem intimidating. But there are a lot of benefits to owning a commercial property in Vernon that you can’t get when you’re just renting or operating your business online. Here are some of these benefits:

1. It’s a good investment.

Owning a commercial property in Vernon can offer good returns. Investing in real estate is always a good idea because the property appreciates over time. According to reports, commercial real estate properties enjoy 6-12% returns in investment every year. It’s much higher than the returns of investment from residential properties, which is only at 1% to 4%.

2. There are so many ways to earn money from it.

One of the ways that you can earn money from your real estate property is to rent the place out to tenants. You can get a passive income from it. However, there are also other ways to earn a passive income such as offer a space for advertising. You can put up billboards. These ad spaces can sell a lot since many businesses look for ways to target their local markets.

3. You can do cross-advertising.

Cross-advertising is when you advertise your real estate property or services to other businesses in the area. You can contribute a lot to the improvement of the community so that more people will be interested to visit the place.

You can come up with services that will also benefit other businesses in the area such as offer extra parking space and trash removal.

Compared to renting, you have complete control over your real estate property. You are the one who gets to decide what to do with it as long as it is within the local laws and regulations. If you want to renovate, that can be done as well. If you want to put up your own business, you can do so.

Commercial property ownership can also offer tax breaks. You can get good capital gains and the government may also offer rebates or even mortgage interest deductions.

There are also risks in buying but many of these risks can be mitigated if you know what to do. Hiring professionals to help you buy your first commercial property, for instance, can help in reducing these risks.

Bill Hubbard Century 21 can help you sort through your many options and find the property that truly suits your needs. Do your due diligence to make sure that you're buying a real estate property without encumbrances or liens.

Robert Tim is the author of this article. To know more about Commercial Realtor Vernon please visit our website: billhubbard.com