Purchasing office space is a big step for any company. You need to consider many things like floor space, price, on-site facilities, parking, and ambience before you spend a considerable amount of money on work premises for you and your employees.
An office space will be a home for your dreams and plans. Whether you’re a start-up carving your name in the world or an already established organization, your office space is a second home and a major point of contact with your prospects. This place must represent your ideals and the vision you want your employees to embrace as well.
Of course, you can’t just buy the first office you visit. Walk around a few of the best and try to compare each one before you make your final decision. When checking out office spaces, keep these points in mind:
1. Check The Location
The first thing you should consider is the location of your office space. You must find a place accessible enough for you and all the employees who will occupy the office.
Is it close to public transportation and is there parking available? Is the office space in a good neighborhood or business district? Are there any restaurants or banks near your office? By answering these questions before you settle into an office, you can pick which one would be at the most effective location.
You need to scout the location well, and visit the local police station to get information about the level of crime in the area to know if it’s safe enough for conducting transactions. The safety level will be a factor to consider whether the location is strategic. The safety of your employees is imperative.
2. Utilities Should Be Working Well
Before you settle into an office space, first check if the electricity, water, and internet lines work properly and meet your needs.
It’s best to bring an inspector, electricians and contractors, with you if you’re not familiar with these details. In this way, you can see, for example, whether the electric meter works and if all the lines and connections are properly installed in the office.
The electrical lines should conform to safety standards, and the main water line shouldn’t have any leaks or damages. Likewise, the internet service in the area should also be working correctly. If anything is not up to par, you should talk to the selling representative about repairs or search for other offices without any utility issues.
All these are paramount to the comfort and convenience of your staff. If they are well cared for, they become more productive and creative.
3. Space And Ventilation
Aside from the main utilities and location, you should also consider how much space is in the office, its layout, and the ventilation inside.
Is the air-conditioning or heating system centralized, or can you regulate it per room? Does the office feel stuffy when crowded? Asking yourself these questions will help you chose the best commercial space for your new office.
Also, estimate how many people can occupy the office. For example, if you’re planning to move a company with 20-30 employees to the office, make sure there’s enough room for everyone to set up their desks, as well as essentials like filing cabinets, printers, and photocopy machines. Hiring a space planner for this is both affordable and recommended.
You need to be able to implement the standard office temperature early on, which is between 68°F to 76°F so your staff will know if they need to bring a sweater or ride it out.
Adding plants in the space can also improve the air quality and help boost creativity. A touch of nature can instantly make your office look more comfortable and inviting.
4. Price For Value
Before you purchase an office space, evaluate whether the money you’ll be paying is worth it.
Try to factor in the costs you’ll pay for your monthly bills and the insurance for the place. Also, do s lease vs buy analysis to make sure you are making the right decision. Do all the aspects of the space justify its price? Can you still negotiate the selling price of the office?
Once you’ve calculated all the expenses, you can determine whether the office you’re eyeing is worth its price.
5. Do You See Yourself Building Your Company In That Space?
Of course, the most crucial factor you should consider before purchasing an office is if you can see yourself and your company staying there for a long time. You are investing a significant amount of money in an office space, so it’s best to get your money’s worth.
Consider if the office space is a positive work environment that will help you grow your company.
Does it fit with your company’s ethos and values, and does it feel comfortable enough to work there daily?
The office you’ll work will play a part in how well your company will function. It will also influence how efficient your employees’ work will be. So, think about how you’ll thrive in the office you’ll purchase.
Of course, we recommend you use a buyer’s broker when purchasing office space to make sure all of these and many other considerations are evaluated correctly. Purchasing office space for your business is a big decision and one that requires careful analysis. These are only a few considerations listed here that you should delve into. Once you’ve evaluated all the aspects of the potential office spaces you’ve checked out, you can decide which one is the best option.
Contact us if you would like assistance finding the perfect office space to purchase. Our local reps are not only experts in their market, but also great guides to make sure you avoid any costly mistakes.