Wednesday, April 14, 2010

Top Tips For Buying Commercial Property In Sydney

Buying commercial property during this economic slump is rather attractive for buyers this time of year.  Purchasing this type of property means that you will have to look for a good commercial space, good lighting, parking, etc.  You can use your property purchase to convert into retail shops, apartments, offices, workshops, retirement villages and childcare centres. If you are interested in purchasing property here are the top tips for buying commercial property in Sydney.
  • The cost of buying commercial property is rather low but you still need to know how much you are willing to invest.  Talk to fellow property buyers, lawyers and anyone else who can give you excellent advice in terms of purchasing property in Sydney.
  • Try searching in the Sydney CBD to find the perfect commercial property which can help you to decide what type of commercial property you want, whether you are going buy and occupy or rent out the property.  Remember, location is everything for a thriving business, meaning the property you purchase needs to be in the right location for the right businesses.
  • Commercial property is an excellent source of investment.  If you are looking or an investment, you may want to invest in the relatively stable property arena rather than in the stock market.
  • Property owners can lease out their space making this an extremely profitable business for you with a relatively stable income.  Businesses seeking to rent out your property will have to sign a contract on a long term basis from three to twenty years creating a secure income for you.
  • There is a good growth rate in the property market as the rent can be re-evaluated on a yearly basis which can be increased by 4 percent or what the CPI states.
  • Residential property can be much riskier and costlier than commercial property due to taxes and interest.  If you are looking for a less volatile option, then commercial property may be your best option.
  • Renting to commercial property tenants is also usually more cost effective for landlords since these tenants normally take better care of the space rented.
  • Tax benefits come from buying property in tax deferred income.  If you have paid for restoration on the building, depreciation or any building allowances can be used for tax allowances and deductions.
There are hundreds of properties that you can purchase in the Sydney area.  Before you make a property purchase look out for specific characteristics that you want your property to have like natural lighting, buildings with a view, extra parking, a grand entrance, an aesthetically pleasing interior and exterior, easily subdivided and good location.  Once you have found these characteristics in the property, you should bargain for a deal, as this is  a commercial property buyer's market.  Now is the time to buy and with these tips, you should be on your way to a stable and prosperous economic future.
(ArticlesBase SC #2073318)

Ralph Garofano - About the Author:
Ralph Garofano in an expert in finding office space and regularly provides tips on securing the best commercial real estate, industrial real estate, shops and serviced office space for sale or for lease.