Buying commercial real estate is an important decision, potentially very pro-fitable and often complex. If you’re thinking about purchasing a location for your business or investing in commercial property, here are some important things to consider.
Adapt your selection to the needs of your business
Choosing the right location for your commercial property is vital for your business. It must also be suited or adaptable to your specific type of business. Is your building for your business only or are you considering renting or leasing to other businesses? You may need to renovate, modify or seek local re-zoning to meet the needs of your business or your tenant.
Consider environmental factors
Depending on your business type, you must consider the environmental regulations and restrictions to safely operate and mitigate any potential contamination. Therefore, a comprehensive assessment of the site may be necessary before purchasing a commercial property.
Understand local taxes and infrastructure
Taxes vary between municipalities and some communities offer preferential rates hoping to attract businesses. Your commercial real estate agent should know what the tax rates will be, as well as the infrastructure and utilities that are available at the sites you're considering—including internet access, garbage pickup, roads, electricity, and natural gas.
The primary types of commercial real estate that we can help you invest in:
Multifamily properties
The multifamily category includes everything from a duplex up to large apartment building. While they can serve primarily as a residence, the general purpose for this type of property is for investment (owner-occupied or not).
Light industrial building
Light Industrial properties are used for the manufacturing, assembly, or packaging of products and various types of materials, for example: printing, commercial laundry, vehicle repair, etc.
If you’re looking to purchase a location for your business, whether it’s a small office building, a retail location, or a light industrial complex, find a mortgage solution customized to your specific business mortgage needs.
When you invest in real estate in Canada, you may require flexible financing options, including a mortgage solution tailored to your specific property needs.
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