Everyone is seeking for more and more value of his or her property. There are two basic types of property,
- Commercial property
- Residential property
Both types of properties have their own selling or rental values. The people mostly are focusing on commercial property more than residential property. We must know how to deal with commercial value of any piece of property. Commercial property can benefit a person a lot if he or she knows what the focal points which he must are dealt in proper way.
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- General tips to add value
To build a ware house of general or particular items can benefit a lot. Secondly build more shops on single shop plot in the form of basement with consecutive floors. Commercial property is fluctuated investment. So, you should take certain steps to optimize its value.
- Expand the building with extra floors. Consult with your local builder and make new offices, make storage and parking to add value to your property.
- Make some cosmetic improvements to the place to add value, for example paint, decoration, new carpeting, remodeling the kitchen, enables the internet connection.
- Improve the security check by adding home alarm, installing monitoring security cameras, and installing big lights on main gate to keep thieves away from your building.
- Interior of the building
Interior of any building matters a lot for its high price. Renovation and painting of a building is part of interior as well. First thing after paint is decor the ceiling with appropriate lights. Whole area will look beautiful with proper light. Put some artificial indoor plants to give a boosting look to the building. Indoor plant can also be original for more decoration. Go to greens for improvement. Outdoor earth plants would be more appealing for buyers. Green option includes solar panels energy efficient appliances and energy conserving windows. Placement of decoration pieces on right place would also beneficial like sofa set on spacious place to give wideness to building. Always take a wise decision when buying a property to build your home.
- Increase Rent
Some people will not be agreed to the trick of increasing rent of property. In reviewing the historical data, weather conditions and renovation points of building will allow you to increase rent for tenants. Determine the increment value and justify it to the tenants. It also would be according to the good market don’t price you out of the market.
- Replace the use of property
To change the use of property can also enhance the value of commercial property. Some type of activities try for a particular period of time if it getting value then continue it. On other hand change the ultimate use of the property. For example if property originally built as apartment to live it may be possible convert it into an office and able to collect more rent than an apartment complex.
- Have some apart place for gathering
Mostly the people like to gather for eating, drinking and gossiping. So, build a barbecue area in the backyard so tenant can invite his or her friends for party. A separate place for gathering can appeal to any tenant and he will go for paying high rent.
Marketing is the very basic element of buying and selling property whether it is commercial or residential. The few points should be in mind before buy, sell and rent your property.
- Give ads to print and electronic media as much as you can do.
- Don’t get greedy because timing is everything.
- If you don’t have sell or rent then hangs on.
- Negotiates with other real estate persons because it’s a game of good relations.
- Know about your zone and be on top of your training.
Ammad Ashique is an expert of real estate marketing and also has passion to write about real estate investments, plots for sale and real estate tips and guides. Follow him on Google +.