You may have heard that it’s a great time to buy commercial real estate because of reduced prices and low interest rates. However, as strong as those incentives are, you need to ask yourself, “Is it the right time for YOU to buy?”
This is a frequent question to which there is no straight answer.
If you’re buying to house your business and you can see future growth and expansion in the building, then yes, it’s the right time to buy. Take advantage of the low interest rates and discounted prices. You can also take advantage of lower construction costs for modifications.
If you’re buying as an investment and you have the cash and ability to ride out potential vacancies, low rental rates and other hiccups, then again, it’s the right time to buy.
Most importantly, focus on making the best deal on a property that makes sense for your immediate and long-term goals.