Maintaining the resale value of any property is one of the primary concerns of the owner whether the property is commercial or residential. Sometimes there is nothing you can do about the changing value, because value can often change through external sources, such as the overall decline of the neighborhood, the upkeep of surrounding buildings, or the rezoning of the area by local government.
However, despite these value changing factors out of your control, there are many aspects of value maintenance that a commercial property owner can implement that will help sustain the value of a property despite any changes out of your control. Try implementing some of these steps to keep the value of your property or to even help it increase over time.
Sustainability Today’s buyers want to see eco-friendly options when purchasing a new building. This is especially important in the commercial sector, because businesses receive a lot of flack for polluting the environment. Buildings that strive to maintain and eco-friendly stance are more likely to hold their value or increase their value to buyers in the future. On a commercial property, there are several different sustainability options you can add to maintain the value of your property. Some of these options are more affordable than others, but a property owner should be able to implement at least one or two of these sustainable options on the property.
Underfloor heating: Underfloor heating is one of the most energy-efficient forms of heating available today. The heating uses a highly efficient radiant heating system that warms the objects in the rooms directly. This cuts down on energy use, which is good for the environment and good for the owner’s pocketbook. Roof gardens: A roof garden not only looks pretty, but it can also help insulate the building. Many top commercial property owners are adding roof gardens to compatible buildings to provide additional insulation and beauty for the building. Self-sustained power: Many buildings can benefit from the use of alternative power sources, like solar panels or wind generators. Either type of energy-generation product can help maintain the resale value of a commercial property. Solar panels are best for urban environments, while wind generators are perfect for out-of-the-way properties.
Landscaping Landscaping is the perfect way to maintain the resale value of a property. No one wants to purchase an ugly property, and beautiful landscaping is one of the best ways to improve the appearance of any building. Choose landscaping plants that are suitable to the climate of where the building is placed to avoid constant maintenance on the plants. Trees, pretty flowers, fountains, bushes, and even simple grass can all go a long way toward boosting the resale value of any property.
Maintenance If the outside of the building looks good, but the inside is dilapidated, this will reduce the value of the property. Proper maintenance of the property is essential to maintain the resale value of the property. Add a new coat of paint every few years and keep the interior look current and appealing to potential buyers. Keep the plumbing, electrical, and HVAC systems up-to-date as well. If your roof is older, replacing it can also improve the resale value of the property.
Updates Buyers not only want properly maintained buildings, but they also want updates to the property that make purchasing your commercial property more attractive than purchasing a property with similar features. Updates will vary depending on the kind of commercial property you own, but special updates like eco-friendly electrical systems, increased fire protection or security options, or better parking facilities can help your property stand out from the competition. If you want to maintain the value of your commercial property, following the above list is a must. Keeping your building attractive and maintained is the best way to increase the overall value of your building when it comes time to sell. You will also enjoy the building more while you have it as well. T
his guest post was written by Endre R., a real estate manager and social media evangelist. He is also a freelance writer, representing Underfloorheating1 Limited, the leading provider of sustainable energy systems in the UK.