When it comes to renting or buying commercial properties, many people often make the mistake of comparing properties too simply.
It is important to realize that real estate is diverse in nature. We must approach with the understanding that each property is different, not just in terms of their features but also in the circumstances surrounding each transaction.
Here are few examples of why comparing can be tricky:
- Commercial properties come in all shapes & sizes, each with different layout, amenities and indented use [ often overlooked factor ].
- A shop, office or warehouse serves a different purpose and attracts different clientele.
- Tenants/Buyers value property attributes based on their specific needs [ in other words - value is subjective ]
- Contract terms can vary significantly between different deals, even if it is the same overall, in a broader context.
- The condition & upkeep of a property significantly impacts its value
- Beyond where the property is, factors like accessibility and nearby amenities/landmarks etc influence its value.
- Real estate trends are hyper local - what is true at one place may not be true at other market.
In short, in commercial real estate, diversity is the norm & recognizing that there are differences is crucial for making informed decisions. Ultimately, the value of a property is subjective, influenced by demand, supply & individual preferences.
Contact AJ And Associates for your real estate needs in Trivandrum.
