Planning on giving your office space a facelift? Before getting started, you’ll need to know all about what drives the cost of office renovation. Knowing where the major costs come in helps you anticipate what you’ll need for your renovation.
Luckily, we’re here to help. In this article, we’ll look at the top five factors that drive the cost of office renovations. Read on!
5 Factors That Affect Office Renovation Costs
To understand where the large costs of office renovation come in, you need to have a grip on both the fixed and variable costs.
Fixed costs are things that you can’t change, like if the building needs to be rewired. Variable costs are ones where you have a choice, like deciding on the materials and finishes.
So let’s look at the biggest fixed and variable costs you’ll need to deal with, from the size of your space to the timeline of your renovations.
The Condition Of The Building
The first thing that can drive up your fixed costs is the condition of the building. If it has previously been used as an office space, then we call it a ‘second-gen’ space. These spaces need less work to make them functional, and you might only have to do touch-ups.
But depending on the space, it may also need some structural redoing, like the electric wiring or HVAC systems. Make sure you get your proposed office space checked out by a commercial building inspector before purchasing to know the full extent of work needed.
You also get ‘shell space’ offices, which are newly constructed and have never been used before. These are, as the name suggests, more of an empty shell. You get more control over customizing the space, but this can drive up the cost. Be sure to find out if they are already fitted with amenities like plumbing.
The Size Of The Space
How big the space is has a big impact on the cost of office renovations. A larger space will need more work and materials to get it up and running.
But economies of scale also play a role in the cost of office renovations. While a larger office will cost more to renovate, the cost per square foot might end up being less. When it comes to choosing an office size, remember the cost, but focus on how much space you actually need.
The Quality Of Materials And Finishes
A major variable expense in office renovation is the quality of the materials and finishes you choose. There is a massive spectrum, from basic to luxurious. The materials you use can be a good place to tighten the budget.
While your office should not look cheap, you may be able to opt for cheaper materials – like a laminate floor with a wood finish, rather than actual hardwood floors.
When choosing materials and finishes, don’t forget to think about how construction can relate to branding.
For example, a tech company might prefer modern finishes, while natural materials would suit a company selling organic products. It’s important to pick materials that mirror your brand persona.
The Layout
Another factor in the cost of your office renovation is the layout. For example, an open-plan office will likely be cheaper because you’ll need to build fewer walls and cubicles.
You’ll also need to consider the existing layout – if you’re in a second-gen office and there are already walls, it will cost more to tear them down.
Looking at your needs and the existing space can help you to get the perfect office for the best price.
However, the cheapest layout isn’t always the best. For example, a layout inspired by biophilic design principles, with curved walls and natural light, may cost more upfront but can have long-term benefits like increased productivity.
The Timeline
The timeline of construction is a significant indicator of cost. If you plan your office renovation well in advance, you can choose between different quotes to get the best value for money. A well-planned renovation gives you lots of time to make choices, weigh up various costs, and create an accurate project budget.
Without a proper plan, you’ll be scrambling to get your office finished in time and there will likely be some unforeseen expenses along the way. This means you’ll have less time to consider things like construction materials and finishes that would be most appropriate for your budget and will therefore end up spending more. A rushed job will always cost extra, so take the time to set up a proper timeline.
Conclusion
There you have it – the key factors that make up the costs of an office renovation. Knowing these, you can embark on your renovation journey with confidence. Time to start deciding how to spread your budget to create your ideal office!
Partner with Chad Fisher Construction and let’s create the office space of your dreams, without all the stress. Our expert team will walk you through every step of the process, and make your dream a reality!