When you have a business, it’s essential to choose a suitable commercial building to serve as your headquarters for operations. However, choosing the right fit for your company can be a very daunting task.
There are many factors to be considered before coming up with a decision. For elaboration, keep on reading so you can choose the right building for commercial purposes whether you’re planning on buying or leasing a certain location.
- Building’s Location
Identifying the location of your building can require a subtle balance of your requirements and situations. You might want to find a site that wouldn’t hurt much of your buying or rental budget. Some properties have high prices, especially if they’re in the center of a city. If your business doesn’t require foot traffic to produce sales, it may be better to choose a location away from the city center to avoid paying high rental fees.
Even so, the location should be convenient for your employees and partners too. It must still be accessible from public roads and highways to promote ease of mobility and access.
Moreover, you have to consider that location can affect the following parts of your company:
- Exposure of the business;
- Costs of shipping to and from the enterprise’s location;
- Costs of operation; and
- Foot traffic or the number of clients who will visit the firm at any given moment.
- Quality Of Building Materials
After determining the location, your next concern is to find the most appropriate building structure. If you want to secure your investment, you should choose a commercial building that meets your state or locality’s building codes. For instance, if you’re choosing between wood vs steel hybrid buildings, you must be familiar with the legal requirements. That way, you won’t face future issues that may arise with regard to building construction.
It’s believed that the quality of the building is essential. You can find and select older buildings proposed at very affordable rates. But you may be putting safety at a lower priority.
In addition, you have to consider the number of employees you currently have and how many people you plan to hire in the next five to 10 years. If you think that the building is too small to accommodate future business growth, you should find another one on the market instead.
You should also assess the building by finding the answers to the following questions:
- Is the layout convenient for smooth operations?
- Does the building feature high and clear heights?
- Does the structure provide a maximum number of loading docks along with useful dock heights combinations?
- Building’s Exterior And Aesthetics
The physical appearance of the building can essentially affect the impressions of your potential clients. Thus, when you visit a specific property, you should carefully assess its feel and appearance. If you find it messy and too outdated, your potential clients might be getting the same impression, too.
With such, it may be best to find other properties that are already furnished inside and out and ready for use. If you can negotiate with the owner to conduct repairs as part of the deal, the better.
- Price
As mentioned, you must check that the property’s price must not go beyond what your budget can afford. Even if it’s in the center of the city, you could lose a lot by paying high rental fees, especially if you’re starting a business.
However, if you opt to limit your budget to a low amount, you might end up getting a building that you don’t like. As a result, you may eventually decide to move out after several months. This isn’t a practical move because you could end up spending more from moving to a new location to marketing efforts to make clients find your new site easier.
That being said, ask the following questions when determining the budget for your building:
- What is the rent deposit policy for signing a lease?
- Is the price rate of the building closed to the rates of other buildings near the area?
- (For buyers) What are the seller’s disclosures?
- Available Building Amenities And Nearby Facilities
Lastly, you may want to check the property’s facilities. This includes having easy access to communal spaces, restaurants, business parks, and the like. Nevertheless, ensure that the facilities near you are the ones your employees or clients will use. If these amenities are included in your rental fee or purchase contract, you must utilize them to prevent wasting added funds by paying for extra features you may already have.
Conclusion
By knowing the factors above, you can have a smooth and easy decision-making process before zeroing in on a particular commercial property. Whether you’re looking to rent or buy one soon for your business, it’s best to explore all of the possible options available to decide which one’s the best and wise choice.
