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Commercial Real Estate
Commercial Real Estate - A Lucrative Side to Real Estate
Within the real estate industry, there are two main sectors – residential real estate and commercial real estate. Residential real estate refers to real estate properties that are used as homes. Houses and duplexes are included in this category and it is generally the most popular type of real estate for sale. However, in terms of real estate investing, the best real estate investment that you can make is to purchase commercial real estate. Commercial real estate are essentially properties that are designed to be used as a way to gain profit, either from business enterprises or as a rental unit. Unlike residential real estate properties whose real estate investment value lies in property appreciation, commercial real estate properties have the advantage of offering property appreciation for the future and either service profit or rental income in the present. Now you may be thinking how this affects you as you put your home for sale on real estate listings, but commercial real estate may add extra bang to your buck! Rather than limiting your home for sale as a residential property, you should consider listing your home as a commercial property.
A commercial property can come in many sizes – it can be as large as an office building or as small as a retail store. By considering the possibility of turning your home into a commercial space, you may be able to maximize your real estate investment. The first thing that you should do is look at your home with fresh eyes. Is your home large enough but has too many rooms to be considered a commercial property? Well maybe now is the time to consider doing some home improvement! By removing walls that separate rooms, you can create a space that is large enough for a small office. Also, by simply changing the exterior of your home through minor details like replacing your windows, you can turn your home into a hot commercial property.
Before you think about going through massive home renovations, study your local real estate market first. Is your neighborhood the type that will support a commercial property or is it a strictly residential area? Also, just because the Commercial Real Estate market is booming throughout the country, it doesn’t necessarily mean that this extends to your area.
Ask local real estate agents about the local commercial real estate industry and look at the sale prices of commercial real estate properties around you? It may or may not be worth the costs of changing your home to a commercial property. If you do decide that you want to list your home as a commercial property, there are many avenues for you to advertise your home for sale. There are realtors who specialize in commercial real estate and there are more and more real estate blogs that list commercial real estate for sale by owner.