Save Money On Office Costs By Buying A Fixer-Upper
If you don’t know what a fixer-upper is, it’s essentially a term given to properties that are in bad condition and you fix them up. Primarily, we know of this term from real estate as people buy a home and fix it up. It’s a common tactic used to save a lot of money as the house will cost a lot less because it’s in a right old state. Then, the renovation costs still bring the entire purchase in at under what you’d expect to pay for a similar house.
We can use this concept and apply it to business. Instead of renting or buying an expensive office building, you can save money by purchasing a fixer-upper. Look for a rundown office building or commercial property that you can get for a steal. Then, spend money renovating it, and you’ve got a functional office building for half the price.
If you like the sound of this idea, here are some of the things you’ll have to concern yourself with during this project.
First thing’s first, you need to look at the building structure and fix any issues. Right away, I say look at the roof. This is an area that’s most likely going to see some issues, so you may as well get it seen to. There’s a lot of repair information out there surrounding commercial roofing as it can be a big job. My advice is to get this done first, so you haven’t got to worry about wet weather leaking into your building and causing more issues. If your building is particularly ruined, you may need to rebuild parts of the walls and address any other structural issues before progressing.
Electricity & Plumbing
Once the outer shell of the building is fixed up, you turn your attention to the inside. Every office needs to be hooked up to a good power supply, so, ensure the electricity is working and you have plenty of power outlets for appliances. Along with this, ensure the plumbing system works, so there are no leaks in the toilets or kitchen.
Seeing as you’re buying the building and renovating it, you can decide how you want the office to be laid out. If the building is too big for your business, that’s fine, just use what you need and rent out the rest as office space for other businesses. Create plans for your office to lay it out in the best way possible for increased productivity.
Now, you need to fill your office with all the essentials such as desks, chairs, conference tables, computers, and so on. Try and buy in bulk wherever possible as it will save you money.
When you do all of this, you’ll end up with an amazing office that’s brand new and designed for your company. But, you get it without having to spend a fortune, even when you factor in all these costs. It will still be cheaper than buying a brand new office, and there’s the benefit of no office rent. That takes a huge chunk out of your monthly expenses, helping you save money!