Build or Buy in 2023

Building or buying a commercial property? this is a major investment decision. It's crucial to consider various factors before making a choice. In the current 2023 market conditions, rising inflation, rising interest rates, and the cost to build are key aspects to consider when determining whether an end-user should build or buy a commercial property.

First, let's take a look at the current cost to build. With the increasing cost of construction materials and labour, building a commercial property can be a costly venture. However, if the user has a specific requirement for the property, such as a unique design or location, building may be the only option. Additionally, if the user has a long-term vision for the property and plans to occupy it for an extended period, building may also be the best choice.

On the other hand, buying an existing commercial property can be more cost-effective in the short-term. This is because the user can avoid the additional costs associated with building a new property, such as design, construction, and council fees. Additionally, buying an existing property also gives the user immediate access to a functional space, which is particularly important for businesses that need to start operating quickly.

Given the current market conditions, it's crucial for users to carefully weigh the pros and cons of building and buying commercial properties. While building a property can be more expensive, it also provides the user with a unique space that meets their specific requirements. On the other hand, buying an existing commercial property can be more cost-effective in the short-term and provides the end-user with immediate access to the space.

The decision to build or buy a commercial property in the current market conditions depends on several factors, including the end-user's specific requirements, financial situation, and long-term goals. Regardless of the choice, it's essential for owners to work closely with a qualified commercial property expert at Fundation Property, who can help them navigate the complexities of the property market and make informed decisions.