Retail properties have the potential to earn high investment yields and allow you to take calculated risks and diversify your portfolio. In order to reap the benefits of retail investments consider your budget and see if it you can make it work.
Through thorough research, intensive planning and careful consideration, investing in retail realty can become a very lucrative investment. But before buying anything you must consider your budget, location, use and timing so as to make a sound investment.
Budget- Investing in any type of property is expensive and retail property is no different. First of all, you have to consider your budget and all your over-and-above expenses which go along with it. Determine the size of the property, its location and purpose in accordance to your budget. You also need to consider the costs of repairs and renovation which will go in readying the shop and giving it the look your business requires. You have to include other expenses like stamp duty, business tax, property tax, insurance, maintenance costs, energy costs like electricity etc. in your budget too. If you are leasing your property you can surely pass some of these costs to your tenant. [Read more…]