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If you are someone that is currently in the process of trying to set up a business, something that you will be more than aware of is just how expensive getting your very own premises can be. When you are conceptualizing the idea for your business, you tend to think about the other costs associated with your business and you don’t ever really consider how expensive getting premises for your business can be.

There are a lot of factors that can influence the cost of business premises. For example, the town or city that you are operating from or even the location of your business within the town that you are operating from.

The costs all start to add up and something that you will want to avoid is using the majority of your startup funds on just getting a building to operate from, as this will burn through a lot of the money that you have to start and it may put you in a difficult financial position.

The best thing that you can do to ensure that you have plenty of leftover funds when you start your business is to buy cheap premises. If you have already been browsing potential premises, then you may think that it is near impossible to get anywhere cheap. Here are just some easy ways to secure cheap premises for your business.

Auction

If you have been looking online or contacting realtors to find a place to operate your business, you have been missing a serious trick. Have you ever wondered what happens to all of the homes and buildings that get reclaimed by the bank after someone is unable to pay their mortgage? Well, if the bank cannot find an immediate sale, they usually put the property up for auction as a way to cut any losses and make back the money that they should have got.

If you do a quick google search, you will be able to easily find any local auction houses next to you. When you go to these auctions, you will be able to find some homes for only a fraction of the price that you would usually expect to pay for them.

You may get lucky and find a house that is of excellent quality and at a very low price. However, more likely than not, the homes that you can buy at auction have some sort of damage or repairs that are required.

More often than not, the repairs will only be minor and so you do not have to worry too much about sinking money into it. However, you do have to remember that when you buy a house at auction, you only get a description and some pictures of the house and you are unable to go and view the house itself. This means that you may not be happy with the house that you get in the end and so you have to be prepared for that to be the case.

If you are worried about not getting the right premises for your business, I would avoid going down this route as once you have bought the property at auction, you have to honor your agreement.

Buy Damaged Properties

Have you ever wondered who buys fire damaged houses when they are put on sale? You may presume that the homes are simply just demolished and people reuse the land to build something new. Though this is the case sometimes, you may be shocked to know that a great way that business owners save a bit of money when getting new premises is by buying properties that have undergone water or fire damage.

When you imagine a fire-damaged building, you likely imagine buildings that are completely destroyed. However, this is not the case at all. A lot of the properties that have undergone fire damage are still perfectly usable, it is just a lot of the internal components that are smoke damaged.

A lot of people put these fire damaged properties on the market because they simply cannot afford or be bothered to fix any of the damage that has been caused by the fire. The shell of the property is still in perfect order, you just need to put some TLC into the buildings.

Before you make the decision to buy any smoke damaged properties, you have to go and check the property out before you do so. By doing this, you will be able to see the full extent of the damage and see just how much work the property will need before it is up and running again.

If you are not someone with expertise in this area, I would recommend taking someone with more experience and knowledge on the subject so that you do not end up buying a property that will cost you a lot of money in the long run to fix.

Buy Properties Away From Popular Locations

A big reason why a lot of business premises are so expensive is that they are usually located in busy retail areas. Busy retail areas are a great place to lure in customers, but the buildings that you can buy in those areas are usually incredibly expensive.

To avoid paying high costs for your businesses, you can instead buy a building that is a bit further out of the way. These buildings are usually much cheaper than the buildings that you can find in retail areas, which will save you a lot of money.