There comes a time that a business is growing and needs more space to accomplish that goal. This could mean that either having to rent or buying bigger space.

Let’s assume you have decided to buy your own building rather to rent another space for several years and you were able to secure financing for your building.

Before you even making and offer there are some things you should think about:

• Location of the current building
• Current zoning of the building
• Is the building ADA compliant?
• Does the building comply with current building codes and zoning regulations for your type of business?

Location:

Is the location suitable for your type of business? When you would like to open a restaurant you should be close to an area that gives you plenty of traffic. Compare too when you are looking to open a trucking company you would need to be closer to an interstate or possible have access to train traffic.

Current zoning of the building:

Is the zoning suitable to your business or would you have to go in front of the planning and zoning board to ask for a zoning variance?

Is the building ADA compliant?

When the building is not ADA compliant you might have to spend extra money to bring the building up to compliance.

Does the building comply with current building codes?

When the usage of the building changes you need to bring the building up to building code compliance and pending how long ago this was done by the past owner. This could take a good sting of money and time before you can move your business into the building.

This is now a true story and hopefully will point out to make sure to cross your T’s and dot your I’s prior to buying a building and moving your business into a building you just bought.

One business owner I know made several costly mistakes as she bought her building to run her business in. The location of the building was a great location but the building she bought was not zoned for her type of business. She moved her business into the new building without getting a zoning variance from the City.

Many months later after she opened for business, the local building inspector came to her and gave her a seize and desist notice, closed her doors and asked her to bring her building up to compliance. At the same time the inspector cited her also for not having her building in ADA compliance and up to the current building code.

She fought the order and she did lose the appeals. She ended up losing her business and she needed to sell the building she recently bought. I have not spoken to her but I only can imagine that she also had attorney’s fees, fines and penalties due to her buildings lack of compliance.

 

There are other things you should be aware off when buying a building. Being on the planning and zoning board for my city the once I have listed above are ingrained into me and very close to my heart. To be certain all your T’s are crossed and I’s are dotted make sure you hire the proper professionals to help you achieve your goal.