Purchasing an old commercial property can be a great investment, especially if you are able to create some equity. If you are fixing up the building and you want to keep as much as you can for the time being, there are some things to consider in order to stay on budget.
You want to make sure that the building is functioning as needed, and that the place is clean and ready for use. Here are a few things to do before you open the doors.
Maintain the Appliances
Replacing appliances can be a hefty cost when purchasing a commercial building. Have a service professional come to do the following:
- Give each appliance a tune-up
- Evaluate and inspect the appliances
- Test the appliances for efficiency
Once the service professional has determined if anything needs to be fixed or repaired, ask about commercial appliance replacement parts. Replacing what is needed and doing minor repairs to keep the appliances going, instead of having to replace the entire thing, is a good idea.
Get estimates for the repair work that is needed and the commercial appliance replacement parts and go from there. After the work is done, you won't have to worry about immediate appliance failure. Contact a commercial appliance parts supplier to learn more.
Paint the Interior of the Building
Paint the entire interior of the building. Having the space painted will:
- Modernize the property
- Help the space appear cleaner
- Brighten or lighten the interior with a neutral color
- Cover flaws and signs of aging
Paint can make a big difference around a property, especially if the walls are dirty and dingy. Talk with a professional paint team if you can't tackle the project yourself and find a paint color that will be calming and neutral.
Address the Floors
Flooring can be expensive, and if you don't have the budget to replace all the floors, you'll want to maintain them the best you can. This means getting professional carpet cleaning, or even carpet dying if needed. Professional floor cleaning, such as hard surfaces, wood, or any other floors, also allows you to see the condition of the floors.
If you have an old commercial property and you need to get it open and create some revenue, these are the main things to address. Have a cleaning company come into the property after you have done these things to make sure that the bathrooms, common areas, and other spaces are all cleaned the best they can be. This way, you can evaluate the space and plan for changes in the budget later.