What to Consider While Preparing Budget for Office Renovation?
Office remodelling requires considerable time and money. For this reason, it is crucial to do effective budgeting for the office renovation process. It helps the workspace owners minimise the expenses and complete the renovation project within the desired budget.
Office renovation is a complicated and tedious process. That’s why it is natural to be overwhelmed. By considering the things mentioned below, one can prepare a budget to get maximum value from the investment. So, let’s look at the things that help you budget for office renovations.
Things To Consider While Preparing Budget For Office Renovation
Budget Type (Flexible or Fixed)
Do you have a fixed amount within which the renovations must be completed?
If yes, you can look for the contractors who offer their services bundled in a package. This way, one can get various services related to renovations at an affordable price. Moreover, you can remove the optional things and stick to the essential operations to further save money and fit into the budget.
However, it comes with a compromise that a single contractor may not be versed in all the required operations. For example, a contractor can be great at the paint job but average in carpentry. Still, this approach is suitable for completing the work on a fixed budget.
On the other hand, if the budget is flexible, one can opt for the services by analysing which contractor is better for the suitable work. Additionally, you can go with the flow of the process, implementing things as per the project requirement.
Size of Office
Office size is a factor that majorly influences how much the renovations will cost. For this reason, if the office is in a larger space, the remodelling will cost more, and vice-versa.
To get a rough estimate of the expenses, you can head to one of the websites to know about renovation costs per square foot. However, different contractors have different prices, but it is still better to have an approximate figure in mind, while preparing the budget.
Different renovation plans such as essentials, mid-range, and premium are available according to the amount you have to spend. For example, the essentials package only covers the basic furniture and fittings required for the employees to operate.
On the other hand, premium renovations involve implementing luxurious and high-end elements across the office space. In short, the workspace size and selection of the elements together decide the final budget for office remodelling.
Mechanical and Electrical (M&E) Requirements
Mechanical and electrical equipment are required for the smooth functioning of work in a particular office space. So, let’s take a look at the various components one by one:
Fire Safety Mechanism
A fire protection system is a must for the office. It consists of things such as emergency exit indicators, water sprinkler systems, and other fire safety equipment. Moreover, if you are planning to change the whole layout of the workspace, then don’t forget to add the fire escapes routes in the new design.
Some buildings have the rule to install fire-safe doors and walls to protect the essential equipment in the workspace. Furthermore, an FM200 fire system suppression allows extinguishing fire without using water and keeping crucial equipment like servers safe.
After figuring out a suitable fire safety system for the office, you need to get it approved by the Singapore Civil Defence Force (SCDF). This process can approximately cost between $2000 to $6000. So, manage the budget accordingly.
An office space requires some essential electrical components to offer a good work environment for the employees. Let us take an example of how many power plugs you need for the workspace. Besides, you need to decide how many you need for each workstation, and other office sections. Similarly, figure out the other material and their approximate cost.
One of the important elements of a workspace is lighting. It majorly impacts the energy levels and productivity of the workforce. For this reason, dull and low lighting can make the employees slow and dizzy. On the other hand, they stay efficient and productive when the light is bright in moderation.
Therefore, it is recommended to use the proper combination of accent lights, ambient lights, and task lights to give the suitable look and feel to the workspace. Also, one must curate the budget accordingly.
Most offices have a central air conditioning system, but the workspace layout is different. One of the basic things is to decide the number and location of the AC vents.
Similarly, you may require the relocation of diffusers to manage the temperature and ensure ample airflow in every section of the facility. Additionally, if the workspace has servers that work 24X7 or the employees work in multiple shifts; one needs to install an auxiliary air conditioning system.
So, according to the structure and operational hours of the office, one can decide on a suitable air conditioning system along with the respective budget.
Quality of the Property
Different buildings have different guidelines for renovations termed as fitting out guidelines. So, if you are making a new office in a Greenmark Platinum Property, the cost of implementing M&E components as per the compliance will be more. In short, the amount required for remodelling depends on the quality of the property or the building.
Moreover, some buildings don’t allow renovation operations at specific times. Consequently, the amount charged by the renovation contractor is high if the workers have to operate at unconventional timings such as night or holidays. So, keep all these things in mind while preparing the budget.
Office renovation is a hectic process that can be more troublesome if one does not prepare the budget considering all the factors. After going through the above points, office owners can easily assess their requirements and curate a suitable budget for remodelling.
If you are looking for experienced and skilled contractors for workspace renovation, make an online search like home renovation contractors Singapore, and get desired results.
What do you think about the things we mentioned? Do you have any suggestions? We would like to hear from you in the comments. Thanks for reading!