This article will explain what you may need to include in your office project budget, helping you to avoid office project budget pitfalls and keep track of your budget from day one.
Planning an office move is complex. You realized now is the time to relocate or renovate your premise. You've figured out how much space you're looking for. And you're quite sure about the functionality of the space. But how much financing will the whole project take?
Clients often seek our support with this. So we've compiled the following list to help you avoid the pitfalls of office project budgeting. Which of these items do you need to factor into your office project? To find out how much to budget for each item you can find our Office Project Budget Calculator here.
Figure Office Interior, designed by Itu Design
This covers the cost of the physical changes needed to create your designed floor plan. Demolishing or constructing new partition walls, updating flooring, replacing kitchens and all the associated technical costs for updating electrical supplies, air conditioning heating and cooling.
These costs might be included in your lease agreement if you’re moving. Sometimes Landlords agree to cover these costs to a ceiling price.
Regardless of the condition and suitability of your current furniture, chances are you'll be needing to update and replace at least some items. Or perhaps your new space will reflect a new way of working for your organisation and new furniture pieces are needed to support that. Workstations, task-chairs, meeting room furniture, notice boards, phone boxes all belong on this list. Your designer will make a detailed schedule, and help to get offers and coordinate.
This list includes any furniture items that are not part of the construction costs, and generally can't be moved around easily. Perhaps you're hoping to include built-in sofas, wardrobes, shelving and other bespoke carpenter’s work in your project.
Your office move is the ideal time to replace and upgrade you equipment. The price of new computers, computer displays, servers, switches and cabling all need to be considered.
Perhaps some of your existing equipment can be repurposed in your new space. But any new meeting room screens, room booking screens, cameras, microphones speakers and cabling should all be factored-in to your office move. And remember to allow for AV installation costs too.
Regardless of your business area, new cameras, access control systems, cabling and installation costs are all likely to be a cost factor in your office project. Include them from day one to avoid surprises.
Creating an inspirational working environment is essential. Inspiring your employees and guests alike by including carefully integrated branding in your designs. Bespoke glass taping, original wallpaper prints, cut-out company logos and way-finding can all help to create a memorable office environment.
Many office buildings include the potential for your company's name to be displayed. Whether light signs on the roof or plaques by the entrance remember to include the cost of these in your budget.
Fabrics in workplace can help with your office functionality, adding privacy and flexibility to your spaces. Used as room dividers or to give privacy to meeting rooms, curtains also dramatically improve acoustics too. Curtain fabrics, tracks and installation should be considered.
No modern office is complete without plants. As well as creating homely vibes, real planting improves air quality and the physiological impact can't be overrated.
Repairing and cleaning you current premises before you hand them back to your landlord to ensure the space is in its original condition can be a condition of your current lease. Ensure the cost of this doesn't come as a surprise.
Often your old furniture has little value, and you may even have to pay for its removal. While we should all aim to reuse as much furniture as possible, damaged or unsuitable furniture needs to find a new home. Depending on the condition there could be some second-hand value in your old furniture. But often times the unexpected cost of recycling unwanted furniture can be surprising to tenants on the move.
Are you're dramatically increasing the size of your office or moving from a Co-working or office hotel to your first office premise? Don’t forget to allow for electrical kitchen equipment, crockery and cutlery.
The cost of the actual move itself needs to be factored in. A professional removal company can take care of the move, with additional consideration to the cost of renting crates or leasing temporary storage.
Depending on the size of your project you many need a Project Manager or specialist service designers. The design team for the Tenant Improvement works may be included in the package agreed with your landlord, but addtional support from AV designers, Electrical or Lighting Designers should be considered. Likewise an Interior Architect will be able to help you to understand your needs, plan your project and create detailed designs for the space, materials and furniture. If you're interested in this service from Itu Design get started here
Prepare for the unexpected with an additional percentage of the total cost reserved as contingency.
Having this handy list can save you from surprises later and help to budget carefully. You can also get this content as a handy PDF check list here. And if you need more help to allocate budget to the various items we're happy to help. Just book an appointment through the link and we can talk through the process with you.
I'm Robin Wycherley, Interior Architect and founder of Itu Design. I've lead a small team of expert designers here in Helsinki for over ten years. I'm responsible for creative design, coordination and communication, and I'm present in all projects from beginning to end.
Regardless of your project size, time schedule or ambition, our projects begin with a short discovery call. We'll examine your unique needs and discover if we are the right fit for your project. Book your free discovery call now through the link below – let's explore the possibilities!
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Whether you're planning to move or renovating your current space, ensure you avoid office project pitfalls by following our essential checklist. Get it for free now.
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