What to Look for When Buying an Office for Your Company

Starting a new business is incredibly exciting. One of the first tasks on your to-do list, after assembling an A-team of top workers, is finding an office space that can support your company’s success. It’s important to choose an office that ticks more boxes than just “affordable”. Below are our tips for picking the right spot that’ll support the growth of your business and increase your employees’ happiness.

Location

This seems like an obvious point but the right location for your office is incredibly important. The commercial real estate marketplace is sometimes incredibly competitive, so if you have a smaller budget, you may have to expand your search to more reasonably-priced areas.

You’ll also want to think about these questions when you are shopping around for office locations:

• Is there enough parking? This is crucial to your employees who may have a long commute. If your office is in a busy downtown area, parking will likely be limited. Conversely, if you choose an industrial business park, it’s likely there’s a bigger parking lot associated with the space. You don’t want to burden your team with zero parking opportunities and create stress for them before the workday has even started.
• Is getting to the office an easy commute for most employees? Obviously, it’s not possible to make everyone happy but consider taking a survey or poll to see where most people live or where they’re willing to commute to.
• Is there room for growth? For forward-thinking companies that are rapidly growing, it’s important to consider choosing an office that can support more employees in the future. If in six months you expect to increase your company size by 50 employees, a one-room open office that feels full with 30 people in it might not be the best option. You would be better off getting an expansive fully serviced office in the middle of Hong Kong’s financial district.

Price

In an ideal world, you’ll find an office space that’s the perfect “Goldilocks” amount – not too much and not so cheap that you’re worried the walls will fall apart around you. When you consider the cost of a potential office space, make sure that you know about any hidden costs you might end up being on the hook for.

For example, you could be responsible for parking fees, extra storage, maintenance, and any other fees that pop up during your tenancy.

Make sure that you shop around and get an idea of what you can expect pricewise for the areas you’d like to be located in.

Amenities

While this is secondary to the office space itself, the building your office is housed in should be a consideration as well. Here are some things you may want to think about when choosing an office building.

• Are there shower facilities on site? This is important if you have a lot of workers commuting by bike or those who like to work out on their lunch breaks.
• Are there places to get food or drinks nearby? Team lunches, happy hours, and just being able to get out of the office for a little bit are important for practicing a good work-life balance.
• Are there conference rooms available? Again, this is only important if you need a meeting space to meet with clients or other colleagues, but meeting rooms could come in handy.

Style

As you probably already know as a seasoned professional, first impressions really do matter. When you’re heading in for an interview or a meeting, you probably put some extra effort into your appearance. The same rule applies for your office space. After all, you don’t want a potential new client or even an old client to have to make their way through a decrepit building that’s falling apart or dirty.

While a nice building isn’t everything, a stylish lobby that’s new and updated, can make all the difference when it comes to impressing clients and attracting new talent. Look for attention to detail where it matters most: comfortable chairs, plush rugs, neutral paint tones, and an inviting business atmosphere.

Takeaways

It can be a little overwhelming looking for a new office space, especially when you’re not quite sure what you want. However, once you ascertain the office size you want and the area you like, you can make headway finding the perfect space for you and your employees.