How to Budget for a Renovation
An office remodel can be expensive, and improving the look and design of a workplace often isn’t easy. It can take months to finish construction projects. Whether it’s just a bathroom upgrade or a commercial building renovation, several steps need to be taken to make the transformation successful. You need the right resources, an organized timeline, and a professional support team—all of which can be costly.
In this blog, we discuss how to plan a renovation budget. We break down the project’s essential elements and provide tips to help save you money. Here’s what’s most important to consider:
The first step involves proper measurement. Before breaking ground on new construction, property owners must get the accurate dimensions of the space undergoing renovation. Once you know how much square footage needs work, consult with your contractor to determine an estimate.
Architecture and Design
On average, architects and designers consume about 20 percent of the total renovation budget, but they’re worth every penny. These design professionals play a vital role in keeping the workspace comfortable for employees, prospects, and guests. Not only do they finetune the look and feel of the project, but they also handle building code issues, ensure handicap accessibility, and design custom work areas.
The cost of labor depends on the project’s geographic location and the type of workforce you hire. When executing an office build-out, do you go with a union group or a non-union support team? Regardless, make sure you’re clearing at least 10% of your balance sheet for labor costs.
If you’re tackling a bathroom renovation on a budget, know that you must have at least one communal restroom per 15 members. On average, a single installation could cost anywhere from $10,000-$15,000. And if you decide to install a shower in the bathroom, make sure it’s handicap-friendly.
Although it’s not a necessity to build a kitchen into the office, most commercial spaces provide room for it. If you do consider building a kitchenette, clear space for the essential items, including a sink, cabinets, microwave, refrigerator, and overall counter space. You should factor in the cost of new dining tables, too.
Windows may be an expensive investment upfront, but they’re essential in reducing long-term energy costs. When renovating the office, consider new skylights built with low e-glass. This window technology blocks out UV radiation from the sun, which helps minimize heating and cooling costs.
Before you shop around for a new sprinkler system, schedule an inspection to determine the condition of your existing equipment. If you decide to replace your sprinklers, prioritize the cost for permits and testing. Note that an average sprinkler head costs roughly $200.
Proper lighting is a crucial element in an optimal working environment. When upgrading your lighting system, consider LEDs. These lighting solutions might cost more upfront, but they are the most cost-efficient option for the long term. LEDs burn brighter, absorb less energy, and last years longer than conventional bulbs. Also, make sure your contractor chooses the right fixture. Narrow down the selection process between these three attractive options:
- Suspended fixtures
- Linear wrap fixtures
- Recessed office lighting
Is your renovation taking place in a warehouse or an upscale office? The location matters, especially when it pertains to flooring. Concrete is generally the least expensive option, followed by vinyl, wood, and then tile. It’s also wise to discuss potential carpeting options. See how much square footage you’re working with and talk things over with your contractor to determine what makes the most sense.
Put Your Remodeling Project in Good Hands
When it comes to office renovations, the experts at Skilled Services have all the answers. We’re more than just a general contractor with years of experience. Whether you need a small upgrade or an entirely new facility, we’re the partner that can handle it all.
Our specialties include:
If you have a remodeling idea, we have the resources and knowledge to turn it into a reality. Whether it’s a bathroom installation or a hardware installation, you can count on us to streamline the design process while helping cut renovation costs.
Reach out today to get started with a free project consultation.