If you're still in the early days of managing your business, you likely haven't even dreamt about buying your own building. Your organisation probably started with just you, alone in your garage, brainstorming product ideas; it's a long climb from that starting level all the way to your own commercial facility. Eventually, though, you may want to let yourself think about it.
Buying your own real estate is a breakthrough moment in your rise to commercial success. Not only does it signify that you've made a fair amount of money and can afford your own place, but it also shows that your business has real staying power and you're ready to set up shop for a long time.
Are you ready to take the plunge and buy your first commercial property? It's a big decision – but a lucrative one if you know how to handle it right.
Early on, when your business is still in its infancy, you'll probably make a conscious decision to lease commercial property rather than buy it outright. This makes sense. After all, leasing a place is only a small investment and a short time commitment – if you're unsure about the long-term staying power of your business, this small-stakes play is the way to go.
Eventually, though, you reach an inflection point where it makes more sense to buy a place than lease. According to the Department of Industry, Innovation and Science, you'll notice warning signs that you're too big for your current real estate arrangement.
Early on, you might just rent a bigger space in short increments, like when you're hosting an industry event or client meeting. However, if you soon discover that you need a large office space all the time, it's time to explore the market for something you can own on a permanent basis.
Are you worried that your business might still not be ready to commit to a place for the long haul? Well, here's the secret. Even if you aren't sure about the staying power of your business, buying property is still a great decision to make, as long as you can afford it.
The reason for this, according to Real Commercial News, is that you can rent out buildings you own if you're not using them yourself, and you can make a tidy profit. Industrial leasing on the Gold Coast tends to yield great margins. A typical residential property is unlikely to give you a return of investment higher than 4 or 5 per cent; with a retail property, that's closer to 7 per cent, and with a industrial property it can be as high as 10 per cent.
This is largely because a residential landlord has a long list of expenses, such as maintenance and insurance; in most business arrangements, the client pays for all that instead. This means you can look forward to pure profit if you own an investment property.
If you've decided that now's the right time to buy commercial property on the Gold Coast, you'll need to consult with real estate experts who can guide you through that process. Fortunately, at Ray White Commercial Gold Coast, we have an entire team of them, and we're eager to work with you.
Our talented staff includes over 40 specialists, and among them they can handle everything from property management to sales and administrative support. If you work with us, you'll get hands-on assistance with every step of the commercial property investing journey. Let's get started working together soon.