- Joined
- Sep 15, 2008
- Messages
- 36
I have searched this forum for information pertaining to buying business condo/commercial space and can`t seem to find what much of what I am looking for. Maybe I just need to bounce my idea off of others to firm up my decision making process. Here is my situation.....
Outside of real estate investing, I am a self employed Occupational Therapist. I assess individuals who have been injured and are in litigation. Presently I rent clinic space for assessments (300.00 per day) and the am considering setting up my own clinic. I have compared leasing vs buying (I should mention that I prefer to be in Sherwood Park - close to home) and feel that owning my own space is the way to go over leasing. I found a unit in a newly built business condo building with other health/fitness business` set up already so I think this would be a good fit. Now I need to decide whether to make an offer on the unit. This space is large enough to grow my business and possibly include some space to rent out to other health professionals to supplement my mortgage payments.
It has no interior development so I know that this will be an added expense above the purchase price (I think this is what is holding me back).
Taxes and condo fees seem reasonable.
What other questions should I be asking? I would appreciate hearing from anyone else who has purchased a new business condo.
Thanks in advance.
Outside of real estate investing, I am a self employed Occupational Therapist. I assess individuals who have been injured and are in litigation. Presently I rent clinic space for assessments (300.00 per day) and the am considering setting up my own clinic. I have compared leasing vs buying (I should mention that I prefer to be in Sherwood Park - close to home) and feel that owning my own space is the way to go over leasing. I found a unit in a newly built business condo building with other health/fitness business` set up already so I think this would be a good fit. Now I need to decide whether to make an offer on the unit. This space is large enough to grow my business and possibly include some space to rent out to other health professionals to supplement my mortgage payments.
It has no interior development so I know that this will be an added expense above the purchase price (I think this is what is holding me back).
Taxes and condo fees seem reasonable.
What other questions should I be asking? I would appreciate hearing from anyone else who has purchased a new business condo.
Thanks in advance.