5 Reasons to Hire a Surveyor Before Purchasing Commercial Investments

surveyorBefore closing in on potential and coveted commercial investments, there’s a lot to be done. Buyers and investors will have to go through an entire process to ensure that the acquisition is indeed of value and is able to provide returns and serve the purpose for which it was bought.

Among one of the vital tasks that should be done involves hiring a property surveyor. But what exactly do they do and why should they be hired? Today, we’re giving you 5 reasons.

1st Reason: Asset Valuation

You need them first and foremost to help validate the current market value of the asset. There are a lot of factors included in such an assessment and if you’re not skilled enough, it would be easy for you to be swayed to believe false facts. You should know by now to never rely on sellers and brokers about numbers alone. They want as much profits and you want as much savings. You see the contrasting interests here? You have to check and surveyors are the trained professionals you need to ask help from.

2nd Reason: Cost Estimation

Apart from valuing the property, they will conduct examination and inspection to give you an idea as to how much ongoing costs, otherwise known as repairs and maintenance, you will be looking at once you do decide to continue with the purchase.

3rd Reason: Construction Guidance

They aid property owners and buyers when it comes to constructions, renovations and upgrades done to the commercial assets. They will help ensure that you are not building beyond its perimeters causing legal disputes and in ensuring that the structure is strong enough to be built upon.

4th Reason: Avoid Disputes

Surveyors can help commercial property buyers steer clear from the risks of disputes, conflicts and misunderstandings related to asset acquisitions, renovations, constructions and the like. This way civil litigations, its costs and consequences are best kept out of reach.

5th Reason: Fraudulent Deals

As an entrepreneur, buying commercial investments will have a massive impact on your businesses and its finances. If you make a misstep and engage in a shady or fraudulent deal then you’re signing yourself up for trouble. Surveyors can help avoid that dark and dreaded fate. They’ll keep you from paying for more than what’s necessary and for spotting too good to be true deals that have defects hiding in the corners.

Do’s and Don’ts to Maintaining Commercial Investments

commercial-investmentsDo you own a number of commercial investments? If you do then you’ll know that maintenance plays a huge role in the upkeep and functionality of any asset. After all, no property is going to clean up after themselves. You’ll need to take care of them in order for them to last, to increase in value and to remain useful.

That’s why we took it upon ourselves to gather a list of do’s and don’ts to maintaining commercial investments. Here, take a look and learn a thing or two.

Do service even the smallest of issues. Every problem starts small so you better act on it while it’s still manageable. A slight crack on the bathroom tile may seem purely cosmetic but if you let it be, you’re allowing water to seep through and weaken the foundations. Never underestimate seemingly miniscule issues. After all, it’s fairly easier to solve problems at the onset.

Don’t forget to run safety checks. Some issues don’t present themselves or become visible until later on. That is when they’ve come to their worst point. To better avoid such situations, running safety checks and inspections will do a lot of good. Plus, this shall also further confirm that your building or property is still serviceable.

Do integrate preventive measures. As the old adage goes, prevention is better than cure. Maintenance is not just about fixing problems. It also involves preventing them from ever happening. Various aspects such as upgrades and renovations form part of this effort. Plus considering the fact that you’re dealing with a commercial property, it’s bound to house more valuable assets which you’ll want to safeguard at all costs.

Don’t go with the amateurs. When having work done, see to it that you call in the professionals. Don’t cut on your costs and sacrifice quality in the process. It’ll do you so much harm than good and you’ll regret it later.

Do incorporate your costs to your budget. Expect repair and maintenance expenses to be there. They are after all ongoing costs meaning that they are to be expected on the regular for as long as you retain ownership of the commercial property. Putting it in your budget shall also make it feel less of a burden as it is planned.

Don’t experiment without knowing. Maintaining commercial investments should be done with absolute care and caution. You need to know what you’re doing. You simply cannot afford to experiment and commit a mistake. There’s too much at stake.