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Inspecting a commercial property before purchase? Here’s what to look for

By Greg Bell

When you are in the process of purchasing a commercial property, it's always a good idea to make sure you fully inspect the building before deciding to close the deal. Without that kind of thorough examination, you may be signing up for a host of headaches you could have otherwise avoided, and certainly don't want.

So what should you be looking for when it comes to inspecting a commercial property? Let's start with the obvious: Mould and water damage. The Commercial Property Guide warns that these are two of the absolute biggest signs that something is amiss with your building and could require costly repairs or improvements. Likewise, any cracks in the exterior or foundation of the building, and areas where the roof or ceiling appears to be sagging should be accounted for, because these are signs of structural issues.

Getting it right

Before you begin your search, however, it's important to also put together a list of the things you are looking for in the property: Separate out what is absolutely necessary for your business to function, and what would simply be nice to have. Once you check off the former, you can start thinking about the latter and really determine if you're getting the right value for your dollar at the listed price.

Keep an eye on safety

In addition to all of the above concerns, you should be as vigilant as possible about things that might not have been updated in older buildings, according to Inspect It First. For instance, you will need to consider whether the building has enough fire exits, a working sprinkler system, enough parking for your employees and so on.

When you are thinking of purchasing a commercial property, either as a first-time buyer or when you are expanding to a new location, it's vital to have expert guidance. At Ray White Surfers Paradise, we have tackled countless sales from both sides of the transaction, so we know exactly what you should be looking for when you are trying to make the right decision for your unique needs. Get in touch with us today to learn more about what we can do for you as you start the search for your next great property.

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