A new office can be highly beneficial for your business. It could offer more space, allowing you to increase the number of employees on your books. In turn, this lets you be more productive and increase your work output, potentially boosting profits.
Plus, a new office can enhance your reputation as you move into a stunning new place that’s better than all your rivals!
Typically, you have two options when finding a new office:
- Purchase an existing building
- Build your office from scratch
As an experienced construction company, Vesper Construction has worked on numerous office building projects. We firmly believe that building your new office is the best and most practical approach. Why? Check out the reasons below:
Far more cost-effective
The cost of building a new office is far less than you might expect. The exact figures will vary based on the location of your business and other building factors.
Per a 2018 Crain’s Detroit article, the cost of building an office in the metro Detroit area can vary from $123.20 – $221.64 per square foot. This cost will be based on “quality and complexity,” per the article. Remember, this is for a brand new building built with your specifications and preferences in mind!
A current look on Loopnet.com will show you the current office properties that are listed for purchase in the Macomb area. A quick look today reveals offices for sale that are listed anywhere from $10.47 all the way up to $379.95/sf and higher!.
These properties all vary in age and construction and some may have structural issues that you will have to fix eventually. On top of that, they are going to be designed with the builders vision, not yours. All of these things mean that on top of the purchase of the office, you are going to have to put money into repairing what needs fixed and making the changes you need to make it your own!
Let’s not forget about the time. When you build your new office, you have a set date that you are sure you can be up and running by. When you have to modify an existing space, not only will it take time to make the purchase, but also getting that space perfect. All of this time amounts to money lost when you could be up and running!
A better return on investment
Building your new office can also present a better return on investment. In both cases, you benefit from owning the property.
If you rent an office, you get nothing in return. By building and buying, you have the potential to rent out some of your office space to other businesses. This gives you a steady stream of additional income, slowly paying off building/buying costs.
Naturally, the lower costs of building an office mean you see a greater return from the investment. Not only that, but you should consider the profit potential if you ever chose to sell the building!
Let’s say you stay in the same location for 5 years, then decide to move your business to a completely new city. You could continue renting out your office, or you could sell it to the highest bidder. In either case, the fact you spent less money building the office means you get a bigger profit when you sell it.
If you want to think about the future, it makes a lot more sense to invest your money in building your new office!
Designed specifically for your business
Moving aside from the financial benefits of building an office, let’s consider a key practical advantage. Buying an office can be stressful as you have loads of things to consider. Think about how much space you need, what features the office should have, etc. It’s hard to find the perfect office for your company, as perfection rarely exists. When it does, it’s always based on individual wants and needs and a pre-built office wasn’t built for you!
On the other hand, building an office lets you make the perfect property for your company. Work with Vesper Construction and Interior by Mary as your local building contractors to design a building that works for you! Everything is built to your desires, ensuring you get the most out of your business.
You can literally create the most unique office building out there. When you buy a new office, you restrict yourself to settling for something that already exists, even if it doesn’t check all the right boxes.
Again, you can relate this back to the financial benefits as well. It can be said you get more bang for your buck as you pay for something that’s built for your business. You don’t have to settle for anything less than perfection!
Set yourself apart from the competition
Most offices look the same and come with similar features. When office buildings are constructed, the majority are done by the same construction companies over and over. They follow the same design to make things as simple as possible and ensure everything gets made ASAP.
If you buy a new office, you move into a place that’s the same as hundreds of other buildings! It can look a bit similar to everyone else, meaning your business blends in with the crowd. However, standing out gets you noticed, and isn’t that exactly what you want for your new office?
By working with local building contractors to create a new office, you set yourself apart from the rest!
Going back to the previous point, you design an office that’s made for your business. It can be unique and include features that no other office has. In turn, this sets you apart from the rest and elevates you above the crowd. People will walk past your office and turn their heads because it looks so amazing and new.
Similarly, posting pictures of your new interior design will improve your reputation. It makes your company seem a step ahead of the rest. Your rivals are operating out of simple offices that look exactly the same! You’ve got something different; it makes a huge difference in the public perception of your company.
Building your office makes more sense
To conclude, building an office makes more sense than purchasing an existing one. Make sure you plan everything out so your business can still operate throughout the construction period. It will be more cost-effective than buying an office, and the benefits are clear for all to see.
If you’re looking for a construction company to help build your new office, contact Vesper Construction today. We have a highly-skilled team of local contractors that will design and build your dream office!
We also offer an interior design service from Interiors by Mary that will ensure the inside of your office is equally impressive as the exterior. Get in touch with us today to book a consultation and learn more about our services.