How Far Ahead do You Need to Think in Calgary Commercial Real Estate?

Are you thinking about growing your business, moving into a new location, or otherwise looking at Calgary commercial real estate? If so, then you might be wondering how far ahead of time you actually need to make a decision, or at least get serious about reviewing different commercial properties.

Unfortunately, there isn’t any single set answer to this question, and of course much of the answer will depend on your own business situation. While I’ve certainly had clients who would like to make a purchase or lease immediately, a good rule of thumb is 6 to 12 months is ideal for planning a Calgary commercial real estate transaction.

If that seems like a long time – and it is, when you’re anxious to take the next step with your business – then consider a few of the things that you may or may not have to do during that space on the calendar:

Set up financing. This could require gathering statements, arranging pre-qualification, digging through your company’s financials, making future projections, etc. The financing process can take anywhere from weeks to months, so try to build this into your plan.

Find the right Calgary areas or neighborhoods. Where are your employees and customers located? How important is it to have nearby roads and amenities, and what kind of neighborhood do you want your business to be in? Obviously, these are just a few of the dozens of questions to discuss with your Calgary commercial realtor, and it helps to have enough time so that you don’t have to answer them on the spot.

Negotiate a lease. While this typically isn’t the longest part of the process, it doesn’t always happen instantly, either. The more time you have at your disposal, the more flexible you can be in your negotiations.

Consider zoning. Will you be able to find space that’s already zoned for your use, or will you have to petition zoning boards for change? Unexpected delays in this area can take weeks or months, so plan ahead.

Actually move your business. In a perfect world this could be handled in days, but if you have lots of equipment and technology, you might want to set aside time for a longer transition.

There are a lot of different steps involved in the process of opening or moving your business, and they don’t all have to be lengthy or tedious – especially if you have the right Calgary commercial realtor on your side. No matter where you are in the process, though, time is always better when it’s on your side, so try to think at least half a year ahead if you can.

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