5 Things To Keep in Mind While Choosing Your Office Space
June 2022
Unlike buying a dream home, where your heart and soul are the front drivers, choosing an office space is more of a rational decision made with the brain. Your heart might willingly agree on shelling out a little more on that top-floor office space in a commercial tower which oversees the countryside. But you need to kick the emotions out and not let this be the reason why you choose that office space over a space that is located in the city’s prime business center and also fits your budget. If you also want to make a rational and logical choice about your office space, just keep these 5 things in mind.
Location
The first question to ask while searching for an office space for sale in India is its location. Your office location sends out a number of signals for your business. When located in the prime and posh locality, a company is considered successful while in a developing locality means it is still in its growing phase. Moreover, there are a number of IT parks, business centers, commercial buildings, and other prime locations where your business can be located to show off its growth rate. Also, consider the connectivity for employees and ease of accessibility for clients while choosing the location for office space.
Compatibility with your Business
There are different types of office spaces being constructed by the top builders and developers of commercial spaces in India. Depending on the type of business, you can choose whether an office space is suitable for you or not. A spacious and well-planned office is required for those who have large employee base, a small office would suffice for those whose majority of work is happening on the web, and a plush and well-designed office space is indispensable of those who have foreign clients and other delegates visiting their office space.
Budget Suitability
While looking for office space in different areas, there are a number of offices that you might shortlist. But you need to consider whether it is within your budget or not. The price of the space when buying it should not affect any other thing in your budget. In case you are taking the office space on lease, it is important to see if the leasing amount fits your financial goals. Moreover, there are many other hidden costs that the builder/developer might ask afterward like maintenance cost, parking space cost, etc., check them beforehand. Know the office space price in the neighborhood to know if the price is in line with the rest of the properties.
Cost of Renovation
The cost of an office space does not stop at the purchase or lease. There are a number of other expenses that come along with office space. You need to inspect the entire office space and premise to know how much modification needs to be done so that it becomes in line you’re your work and business culture. While there are some furnished office spaces with air conditioners, lightings, and other electrical fittings, there are other spaces that need to be completely renovated. Check for the total expenses for modification before you say yes to any office space.
Growth Potential
The space available in the office is another important parameter that needs to be considered. You need to check if there is any scope for your business growth in the office. Will it be able to accommodate everyone if you decide to increase your employees or add new set-ups to scale your business to new heights? The office space should have room for your business growth.
Various factors like your location, size of the office, infrastructure, modifications, scope for growth etc., play a crucial role in your brand image not just in front of your clients and customers but also in front of your potential employees. So, just keep the five things discussed above in mind to ensure that you’ve made the right decision regarding your office space.
Also read: Boman Irani from MCHI shares his views on Thane - A Real Estate Oasis of Opportunity
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