No matter how much you love your office space, there comes a time when you need to upgrade. The company is growing, the space becomes outdated, or you simply need a change of scenery; either way, you’re starting to think about your office space in a new light. But should you remodel the existing space, or construct new space for your company? If that question is weighing on your mind, here are 5 factors to make the decision easier for you.
1) Space
Above all, space should be your first point to consider. Needless to say, if your space is getting too small for your employees, there is only so much you can do in terms of expansion within the existing building or floor.
But reality is often more nuanced than that. For example, creative restructuring of the available office space may lead to additional work stations or conference rooms. Knowing your space, as well as the opportunities it provides for growth that does not require moving, is absolutely crucial in determining whether you should remodel or build.
2) Cost
Naturally, available budget should also enter your mind. A simple remodel project will probably not take nearly as much budget as new construction, so if your funds are limited, remodeling suddenly sounds much more appealing. But keep in mind long-term costs as well. Be honest with yourself: is your remodel just prolonging the inevitable move to new space?
If that is the case, you may not want to push the decision too far into the future. Minor remodels can made some relatively immediate improvements, but may not solve the larger issues at hand. Considering both short-term and long-term returns on your investment should be part of establishing and evaluating project costs.
3) Functionality
Need we say more? Whether you decide to remodel or build, your new space needs to be functional. This is, after all, the place where many (if not most) of your employees will put in long hours to ensure that your company runs smoothly and efficiency.
What that functionality looks like depends on your individual business needs. But in many cases, this point is closely related to the above: do you have enough room for conference rooms? Will your layout enable you to come up with a floor plan in which employees who collaborate frequently can be close to each other? Understanding the functionality you need can get you one step closer to finding a solution that works for everyone.
4) Employee Satisfaction
Don’t forget about your employees in the planning process. As mentioned above, this space will ultimately be for them. Studies have found that happy employees are more productive, which means that creating an environment for your workers to comfortably complete their work carries with it very tangible benefits for your business.
How does office remodeling and new construction relate to employee happiness? In addition to the space we mentioned in the previous point, it includes plenty of room for them to interact and take a break as needed. If your current office situation does not allow for that, you may want to think about new construction.
5) Partner Capabilities
Finally, your construction partner of choice needs to be comfortable completing the work you choose to be best for your business. Finding a construction company early in the process means being able to get input on all of the above points, which will allow you to make a more informed decision that maximizes the benefits for your business.
Office construction and office remodeling require specialized expertise. If you are looking for a partner that can help you both determine the best solution for your company, and build it for you as well, contact us.
