As a business owner, you may reach a point where your office space is no longer serving your company in the most advantageous way. On the fortunate side, maybe your business has grown or requires a different layout to better accommodate the business’s work flow. Perhaps your employee base is shifting and are established in different locations or work remotely, instead of being centralized in one city or office. These situations beg the question, “Is it better to renovate or relocate?” INCO Commercial can help assess your individual situation and compare the logistics of each option. In the meantime, here are some things to consider when deciding between renovation or relocation.
Renovations Could Be Distracting
Electric drill crescendos, hammers knocking away, extra people moving in and out of the office, employes shifted and possibly cramped into temporary spaces… All of these renovations occurring during business hours can be a huge distraction, and more importantly, cut into the productivity of the workers and the business owner. If your office accommodates client visits, your clients may be hesitant to visit or distracted by the dust and noise as well.
By investing in a brand new space, your business can still maintain normal operations at the initial location until the move-in date arrives. When the new space is ready and set up, everyone can relocate at once. That way, the transition is more seamless, and less disruption is experienced by your business and its employees.
Relocation is Sometimes More Cost Efficient
Relocating is often times more cost efficient than going through the process of renovation. In the initial stages, the pricing quotes and comparison may not seem too much different, or possibly even cheaper for a renovation. However, as the renovation work advances, it’s almost guaranteed the cost will as well. Unexpected expenses arise more often than not, another problem or obstacle surfaces, and the actual cost ends up much higher than projected.
The costs for relocation to a different site tend to be more straightforward, and the time frame for getting it ready more concrete. Another cost saver to consider is that your team is able to keep their productivity more stable in a brief move, versus working through ongoing renovations and changes amidst their work space.
Relocations Are Much Quicker to Accomplish
It’s also important to realize that a renovation is not always a timely endeavor. Office renovations are not a one or two-day occurrence, but can last weeks or even months, depending on the extent necessary. The distractions that wear on day to day can affect the performance of the overall company and ultimately even the bottom line. Taking a day or few to relocate everyone expedites the transition period and everyone can return to business as usual.
Renovation Restrictions by Building Owner Regularly Apply
Permission is required for any physical changes to the structure, since your business is most likely renting the office space from a commercial building owner. If the building owner does allow for renovations, there are most likely limitations as to how much you are actually able to do.
INCO Commercial can help you find a new space that best accommodates your business’s overall needs. We realize not just the physical space is important, but the traffic flow and local demographics that feed into your business. We also thoroughly examine the lease terms before you make a commitment to help you determine which options are available in case you want to do any minor changes or improvements to the space before moving in or possibly down the line again. With INCO Commercial, you will always know what you’re in a position to do or not do in accordance with your lease agreements.
_________
As you carefully consider the options, INCO Commercial can help you assess what would give your business the best possible space with the fewest additional costs or distractions. We will help you examine which would be in the best interest of your company, as well as allow your daily business operations to continue as smoothly as possible. If relocation is the best option, our agents’ intimate knowledge of the local area can help guide you to properties that would best fit the demands and dynamic of your business.
INCO Commercial is here to help you evaluate any decisions to renovate, relocate, or assist with any other issues or possibilities concerning your business. For larger scale projects involving new site development, INCO’s affiliate, IMC Municipal Consulting offers real estate and community development advisory services to assist in project formation, site selection, economic incentives, development assistance, and more.
Explore the rest of our website for a full explanation of INCO Commercial’s services, and visit our contact page to find the office location and contact information most convenient for you!