From selection to financing: the key aspects of acquiring a commercial property for entrepreneurs.
Buying a commercial property is an important step for any entrepreneur. It offers the opportunity to tailor the business location to specific requirements and often gives more control over day-to-day operations. In this article we discuss the key aspects of acquiring a commercial property, from selection to financing.
Selecting the property
Several factors matter when choosing a commercial property. Think about the location, accessibility, size and potential for expansion. It is important not only to consider your current needs, but also to take future growth into account. Consider aspects such as parking, the appearance of the property and proximity to suppliers and clients.
Checking the soil quality
Before you buy a commercial property, it is essential to check the soil quality. Soil contamination can lead to high clean-up costs and legal problems. Ask the municipality about the history of the land or have a soil survey carried out. In some cases a clean-soil certificate may be a requirement for the purchase.
Financing the commercial property
Financing a commercial property can be arranged in several ways. The most common method is through a commercial mortgage, with banks usually financing 80% to 90% of the market value. You will need to contribute your own capital for the remaining 10% to 20%. Alternative financing options include microfinancing, crowdfunding or bridge financing. Through De Ondernemershypotheek we map out your situation and look together at the best financing option for your circumstances. Get to know our experts without any obligation. Contact us today for a no-obligation conversation.
Tax aspects and deductions
A number of tax rules come into play when buying a commercial property. For example, transfer tax must be paid, currently 10.4% of the purchase price. In addition, entrepreneurs can make use of the investment deduction, which provides a tax benefit for investing in business premises. VAT must be paid on new properties, unless you and the seller decide to opt out of this arrangement and make use of the VAT deduction. Want to know more about the tax advantages of buying a commercial property? We take this into account in the financing process too, so that you get a complete picture of your obligations.
Legal considerations
It is crucial to check all legal aspects carefully. A verbal purchase agreement is binding when buying a commercial property, which means it is important to negotiate carefully and to put all commitments in writing. A detailed purchase agreement with any conditions subsequent, such as a financing reservation, can prevent problems. When acquiring a commercial property it is also wise to engage a specialised estate agent. Our advisers have an extensive network of estate agents and are happy to put you in touch with one who knows the type of commercial property you are looking for.
Mandatory sustainability measures
Entrepreneurs should be aware of the regulations around sustainability. For office properties, for instance, an energy label C is mandatory from 2024. Investing in sustainability can not only meet legal requirements but also lead to lower operating costs in the long run.
Conclusion
Buying a commercial property is a complex but valuable investment for entrepreneurs. It offers benefits such as ownership considerations, potential appreciation in value and customisation for your operations. However, it is important to be well prepared, both financially and legally. Make sure you carry out thorough research and engage experts where necessary to keep the process running smoothly. Are you ready to take the next step and buy a commercial property? Contact us for a no-obligation introductory meeting.
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