Choosing the right location to build office space isn’t an easy decision as so many different factors have to be taken into account. It is a crucial decision which can affect your business negatively if it isn’t weighed carefully.
You must take into account factors such as location, costs, time and possible future expansion. Here are five factors to keep in mind when building office space.
Site location is one of the most important considerations when it comes to building office space.
Take property-line setbacks into account when choosing a location. A piece of land typically requires a certain distance between a building and the property line.
Anticipate the costs of running extensions of water, sewer and power lines to your building. These costs are even higher in more remote locations.
Distance from existing structures
Fire safety requirements, pedestrian exposure, accessibility needs inclement weather conditions all have to be taken into account when considering the distance between your building and existing structures.
Various solutions can be found for weather concerns, such as installing impact windows. Using impact-resistant windows helps to give more energy efficiency and also offers more protection as the interlayer keeps the window intact, despite destructive winds .
Firewalls and other fire prevention measures need to be taken for meeting fire-safety requirements. Sidewalks, ramps decks can help to address accessibility concerns.
Adequate parking space is an important consideration as lack of parking could have a negative impact on your business profitability. The parking should also be designed to function efficiently.
Adding a building may mean that current drainage systems and retention basins are unable to handle excessive run-off of water when storms occur. This needs to be addressed as flooding can cause plenty of damage. Even minimal amounts of water entering a building will cause damage to carpets etc.
Soil compaction has to be tested before construction to determine appropriate building foundation design. Geotechnical properties of soil play a big role in erecting structures.
Ease of access to the location is necessary for trucks, cranes and other heavy machinery. Height, width length need to be checked to make sure they can get onto .
Time and season
Construction can be a lengthy process and you need to consider how soon you need the building to be ready. Considering the season in which it is being built is also important because inclement weather can hold up the project. When a project is held up for a significant period of time, it’s easy for costs to build up.
You need to determine whether you really have the resources to build and decide how much you want to spend. Most projects face delays and you have to realize that you may have to spend more than you originally expected.
The costs of project management, wages, security insurance keep accumulating the longer the building project runs.
Leasing versus purchasing
You must weigh how important it is to have your own office building or whether it would be better to lease. Having your own building has advantages, such as capital growth, but it also brings many obligations. If you lease, wear and tear items are typically taken care of by the company you lease from.
When building, it’s important to consider where you see your company in five years or so. Do you anticipate enough expansion to make it necessary to have additional space? Will you be able to easily add that space to your existing structure? If not, you could find yourself having to move to a new location to accommodate growth.