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Buying Commercial Property In Nz
Whether you are interested in commercial property in New Zealand for your own business use or if you want to invest in it as a landlord to generate revenue, you can find many different types of business properties to choose from in New Zealand. The returns from commercial property investments in New Zealand are usually higher compared to other forms of investments; however, the risks are just as high and investors require solid equity when it comes to acquiring loans to enter this market.
Here are few important questions and points of consideration to get you thinking.
What kind of commercial property do you want to invest in?
Potential opportunities in this market include: office buildings, shopping centres and warehousing. If you are after already tenanted properties it is important to look for tenants with successful business ventures who have long term leases in place. You will need to research the type of market you wish to enter into thoroughly. This includes monitoring economic conditions closely given that commercial properties in New Zealand are more powerfully affected by fluctuations and trends in the marketplace.
Who should you be consulting / seeking advice from?
An essential component to all property investments in NewZealand is the use of professionals such as lawyers, financial advisors and property consultants who can scrutinise every aspect of a potential business opportunity. In relation to commercial investments this includes: leases, extensions, modifications, location factors and Council rules and regulations. The specialist advice available from such professionals is invaluable and money well spent.
What can you afford?
Start by determining your budget. This will help to narrow down opportunities of interest within your price range and will also eliminate those commercial property investments in NewZealand that are simply out of your price reach financially. As mentioned above, this form of property investment is much more difficult to enter than the residential market, it is common for banks to only lend 60 -70%, in addition to paying higher interest rates. You must factor in your means for obtaining finance and serving loans.
Where in NZ do you want to invest?
If you are buying a commercial building for your own business ventures make sure the regional area in NewZealand you decide upon has a strong economic future and that there are no regulations or restrictions in place by the local Council that limit your desired business plans. If investing in property such as retail shopping malls you will want to consider the levels of traffic in the area, ease of parking and the establishment of neighbouring businesses.
There are numerous online real estate listings and resources available to help make your commercial property search in NewZealand easy. This type of property is actually quite popular, and finding opportunities isn't difficult by any standard. Taking the time to consider the above questions and points will help you begin your search. Note down other questions that come to mind as you search too, it all helps towards finding the best investment possible. Once you have determined which properties you would like to see, you can contact a real estate agent and go visit the properties to make your final decision about which one is right for you.
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