Have been looking at single shop units but a broker is now pushing a whole small commercial building instead, says it's better value. Anyone here actually gone from one unit to owning a full small building? What changes in terms of what you're responsible for?
Owning the whole building means you're the association too, not just a unit owner inside one. Every maintenance decision, every tenant negotiation across floors, is yours to sort out — no one to defer to. If you've got the bandwidth for that it can work out better long-term since you control the building's upkeep instead of hoping someone else does it right. If you don't have that bandwidth, a single well-managed unit in someone else's building is a lot less headache.
Also check who's already occupying it and on what terms before you commit — inheriting existing tenants with bad lease terms is a real risk with a full building buy.
Fair point, hadn't thought about inheriting existing lease terms I didn't negotiate.
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