To maintain the value of your business property, you have to think like a buyer. What do you like about your office building and what would you change? Those are the questions a potential buyer will ask. Whether you think you might sell the building in a few months or a few years, start planning now.
Some changes are out of your control, such as the overall decline of the neighborhood or rezoning by local government. Don’t stress over that. Focus on what you can control.
A greener building could mean more green in the bank. More buyers are attracted to eco-friendly buildings. A business that’s conscientious of the environment appears more responsible. Plus, improvements such as solar panels and energy-efficient appliances and windows save on overhead costs. Trust us. You’ll spend more on heating costs if you buy cheap windows.
Make a Good First Impression
The best way to increase the overall value of your property is to keep it attractive and maintained – both inside and out. A lot of what buyers look for is…well looks. First impressions are vital, because that’s how consumers will remember the business. Keep the exterior up-to-date to match surrounding buildings and the area’s style.
This should go without saying. Nobody wants an ugly property. A nice bed of flowers and bushes probably boost a property’s resale value more than anything else. Again it’s about first impressions and the overall aesthetic feel. To avoid constant maintenance, choose plants that are suitable to the climate.
Keep it Pretty
It will do no good if the outside is pretty and the inside is dingy. Keep it looking attractive. The key word is “keep.” Ever heard the phrase “clean as you go”? This means you don’t wait until moving day to scrub the walls and wash the carpets. By then it’s too late; the carpet stains are permanent and the dirt on the wall is stuck. Heavier tasks like that should be done about every six months. Also adding a new coat of paint every few years will maintain the building’s polished look.
If it’s broken fix it. When the heating vents start blowing cold air or the bathroom sink backs up, don’t trust the guy three cubicles down who took a home improvement class in high school. Who knows if he’ll cause more damage than good and your property is not worth the risk. Hire a reputable repair service instead. Keep plumbing, electrical, heating and cooling systems up to date.
Buying a property is a big investment that people want to protect. That’s why an alarm system, gate, or even shutters and blinds are a smart choice. Bonus – they can also lower your insurance premiums.
Making these small changes now will pay off down the road when your business outgrows your building and you have to move.