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Six Things to Consider When You’re Looking for a New Office Space

People working in an office
Whether you’re a longtime company looking for business office space or a start-up on the hunt for your first official workplace, the same rings true: Moving requires a lot of planning. There are plenty of factors to consider before taking the purchase plunge. Think through the following considerations to make sure you’re making a choice that reflects the best of your company, will keep your employees happy and will help you connect more easily with clients.

1. Location

Location might just be the most important consideration when it comes to selecting a small business office space. Before you even begin your real estate hunt, think about what kind of location best suits your business. Trendy downtown locale? Family-friendly part of town? Is it important for you to be located close to a particular city establishment, such as a school district or state capitol building?

You’ll want to find a location that’s easily accessible to your clients as well as convenient for your employees. If you can make both of these groups happy with one spot, consider it a win.

2. Aesthetics

You want your employees to be happy inside this office building, so be sure you’re moving into a space with plenty of natural light, a welcoming air and decent offices, to name just a few considerations. You also want to maintain a positive, professional presence for your clients to see.

3. Infrastructure

The last thing you want is to have to interfere with productivity down the road to deal with plumbing, electricity or internet issues. Before you purchase an office space, be sure that it’s reliable and not housing any underlying issues that could cause you a headache later on.

4. Size

Be expansion-minded! Consider the future of your business. Is there a chance you’ll keep growing, hire more employees and need more space a little way down the line? Consider whether your new office space has the potential to expand through building an extension, buying another level of the property or creating more office spaces on the floor.

5. Employee Space

In the spirit of company morale, it’s crucial for your employees to feel that they have a space in the office. This may be in the form of a break room, a lounge area to eat their lunches, an in-house cafe or a similar space. Some companies even have an employee gym or yoga studio in their basement, which helps with employee wellness. Employee space is important when you’re thinking through a potential office purchase.

6. Price

Of course, it’s crucial to make sure the bottom line price of the office space fits within your budget, but also be sure to consider the hidden costs that may be involved — construction, utilities, future rent increases, potential moving costs, real estate taxes, janitorial staff and many more factors can add up to a price tag much higher than you were anticipating.

When it comes to buying your new workplace, know that the CAEDC is here to offer business financing to help you purchase the office space you’re looking for. Loans, incentive programs and streamlined access to government programs, can help you bridge the gap between your dream location and your budget. Contact us today with any questions you have to get started.

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