Buying a new property for your company is a great way to expand your product offerings and service area. However, you must ensure that the properties you purchase are worth as much as you pay for them. Test the following areas and systems to decrease the chances of losing your investment in a new building.
Water Pipes
Every building needs water for drinking and cleaning purposes, and if you run a factory, you need a steady water supply to cool down your machinery. Virtually all buildings that have been used recently include water pipes, but they may be rusted, ruptured, or fractured. Use a hydrostatic test pump to ensure that the existing pipes can handle the necessary pressure. Also, test the water for lead and other heavy metals, which often accumulate in older buildings and are poisonous.
Heating, Ventilation, and Air Conditioning
HVAC systems are critical to keeping you and your employees safe. If you work with hazardous materials, it’s critical that your ventilation system is in top condition. Even if you don’t, you need heat and AC to prevent exposure to extreme temperatures. Additionally, HVAC systems that haven’t been used for a while often accumulate particulates, animal droppings, and other debris. Have a professional inspect the system and clear out any trash before you decide to buy the property.
Electricity
You need electricity to run your HVAC system, use your computers and phones, and operate your machines. Do not turn it on until an electrician has inspected the wiring, since wiring issues can cause fires. If the electrician finds problems, ask the current owner to lower the price or cover the repairs.
By checking these parts of your potential new property before signing a contract, you increase the chances of making a successful investment that allows you to expand your company.