- August 14, 2023
- Posted by: legaleseblogger
- Category: Related News
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AI Legalese Decoder: Helping You Understand Complex Legal Language
Introduction:
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Conclusion:
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****** just grabbed a
There’s always a reason why something is TOO CHEAP.
I had a family member do this in Ontario, quit her corporate gig, left the city and opened up a little trinket shop.
Lasted about two years before she returned to the city and her previous career.
It’s so cheap because there’s no demand for that type of property. You ever drive through a small town and see how many boarded up cemercial spaces are out there?
Have an inspection done. What if it needs to be rewired or the heating system is about to go or the roof is shot or it has asbestos or something? Just get it inspected first.
Reminds me of shitscreek
Not sure there is anywhere in Canada with literally ZERO crime but it sounds interesting and all you have to lose is 25k so I’d go for it. Being 1 hour to an airport is good as well.
Why is everyone from that area fleeing to the city?
Start a small business and make it profitable? Try that in a small town.
Sure go ahead.
As long as you enjoy living there then good for you. Just note that if you donÔÇÖt want to run a business yourself, trying to lease out the retail space might be difficult so donÔÇÖt count on that for income
Have you ever lived in a small community? Most small communities have little to no amenities. Housing is cheap because there is very little demand for housing – very few people want to live there. But cheap housing does not equate to low cost of living. Having to drive an hour or more to avail of amenities needs to be considered. How far away is adequate health care? How far away are professionals like electricians, plumbers and carpenters when you need repairs on your property?
One thing to keep in mind as you mention retirement is that as you age you become more and more reliant on health and community services. Having quick and easy access to these services will make the quality of your senior years much more enjoyable.
I grew up in a small town and have family that still live there. My parents are elderly and having to take long drives ( to them anything beyond 30 mins is a long drive now) to see doctors or get their eyes tested is a significant challenge. They need a window replaced on their home and finding someone to do it is a challenge. Their plumber is 70+ years old and they worry that he will retire any day. Even finding someone to mow the grass is a challenge. My Mom needed nigh dresses and slippers recently and I had to order them online and ship it to them. When they need new appliances I order them online and ship it to them. They can’t even buy a pair of socks in their community right now.
Watch the first season of Schitt’s Creek before you make up your mind. Hilarious, but also a clinic on what could go wrong.
If you don’t need a job that makes money and don’t mind living in the middle of no where, it’s fine, but don’t expect to sell it easily or to provide you with a decent income.
Also check community relations. I used to live in a town like this, it had no crime but the surrounding areas had lots of crime. The town had no crime because there was nothing there worth stealing.
Do your research on the area…
If you could get rich off this deal other ppl bwfore you would have taken the deal.
Given the deal is still there, i would analyze all in cost ie maintenance, insurance, taxes etc.
Could do a general store
Any major repair will cost more than the building is worth and older buildings require maintenance.
Usually people go to a hair SALON but a SALOON actually works well for me. Liquor liscense take quite a while to organize, so be prepared.
lol, can you check the population change in the last 20
years. youÔÇÖll have your answer
How much rent would the residential pull if you don’t live it it?
Repairs needed?
Insurable? Mould or any other concerns?
What are the taxes in this town that you’d potentially pay for vacant commercial space ?
I moved to a small town in Southern SK where someone did something similar to what you are describing.
You should make sure that you have all the amenities you need either in town or nearby (I drive 15 minutes for going to the dentist and 30 for the hardware store, which isn’t great, but is feasible).
Talk to someone at the town office or town council to understand if they actually do stuff to improve the life of the residents or, like where I live, it’s just a bunch of idiots.
If there are any businesses in town, talk to them. You need to know what they do and their struggles before thinking of starting your own business. Find out what the community needs and you can then plan to start your own business based on that.
Be prepared to have a hard time getting into any social circles.
What kind of shape is it in? Heating costs? Roof? Any work that needs to be done will be significantly more expensive out there, and flat roofs specifically can easily cost more than what you’re paying for the whole building. There’s a reason so many old small-town commercial places sit vacant until they either burn down or collapse.
Do you plan to live in it yourself? How will you make a living? There’s not likely going to be tenants lining up to rent the place.
Welcome to Saskatchewan!
If you have a renter in a commercial building do it!
You will make much more on rent than you ever could on interest with a 25k investment
You need way more info beyond just the cost if the building. Here in Alberta if you aren’t from the right ‘religion’ the whole town wont shop and or lease from you. Point is small towns are very much personal and you need to ‘fit in’ if you want anything to work out.
Do it.i did it in Nova Scotia. It’s near a UNESCO site so I have a brand new highway in front.
Town so small a 12 year old had to hang out with a 8 year old.
Everyone’s friendly. property taxes are $459 per year.
I live in a community like you described and that seems ridiculously cheap. Definitely get an appraisal and if you know anyone there try to get a feel for the place. As for crime, these small towns always have drug addicts and theft but there is very little police presence and I find the residents are conditioned to just ignore it, itÔÇÖs like ÔÇ£so and soÔÇÖs son is high and tore around the town againÔÇØ.