If you’ve decided to venture into real estate, then you may still be wondering whether investing in one of the Vancouver commercial properties for sale is the best way forward. It’s a fact that any kind of property, whether residential or commercial, is a great investment. What makes commercial property so attractive, however, is the following list of benefits that investors can enjoy:
A greater income potential
Residential buildings will guarantee you a steady annual income, but this income is only 4% off the purchase price at best. A commercial property, on the other hand, returns up to 12% off the purchase price. You get to recoup all your investment money in a much faster way.
Your property stays well maintained
Those who are running a business on your property know that appearances matter. They, therefore, will go out of their way to keep the facility in great shape as a marketing tactic. This helps keep your building in mint condition for many years.
You get to work fewer hours
Most businesses are not open 24 hours a day. They usually open in the morning (as early as 8 A.M.) and close in the evening (as late as midnight). This is good for you as an owner since you only need to work when they’re open and rest when they close, unlike in residential property where a call can come in the middle of the night from a tenant in some sort of distress.
Customers are easy to deal with
Business owners want to protect their brand and their livelihood. Therefore, they approach your relationship with a lot of professionalism, which makes things easy for you. Many times, businesses in your property are owned by LLCs rather than individuals, keeping your interactions with them courteous and professional.
Investing in commercial property has many benefits that residential properties simply cannot match. It’s the reason those who go try this route never go back.