When it comes to new building construction, finding the best location is essential. The right site will positively impact your bottom line and help you achieve your business goals. Finding the perfect spot for a new building requires careful planning and analysis. Here are some helpful tips to assist you in making the right decision about where to build your next structure.
Know your business goals
Whether you are starting a new business, expanding an existing one, or relocating an existing building, it’s critical to understand your goals to make the most informed decisions. This will ensure that you make an informed decision with your eyes wide open.
Some important questions to ask include:
- Will the new property bring you closer to your target audience?
- Will it be close to suppliers and/or potential partners?
- Where will you find the best talent?
- How will the building affect the company culture?
Consider the costs of construction
The costs of building in a certain area versus another area could be significantly different. This is due to several factors, including construction costs, availability of contractors, and impact on the local economy. Construction costs vary widely depending on the location, contractor availability, and building type.
When looking at construction costs, important things include:
- The type of building you want to construct
- The size of the structure
- The location you choose
For instance, residential buildings tend to be less expensive than commercial buildings. And constructing a building in a less populated region could lead to lower construction costs.
Check the zoning requirements
Zoning regulations control how land and buildings can be used within a specific area. These regulations can vary significantly from one city or county to the next. You should understand the zoning requirements of the area you consider for new building construction.
This way, you will better understand what types of buildings can be built in that area and what you can do with the land. It’s important to remember that zoning regulations are designed to protect the health, safety, and welfare of the community.
Find out where your employees live and commute
Although it’s important to find the perfect location for your new building, you also need to consider the commute times of your employees. If your employees travel a long distance to get to the office each day, they are likely to be less productive.
If you are constructing a new building and want to attract top talent, it’s important to find an area with affordable housing and close proximity to amenities.
Ask your employees
If you find it difficult to find the perfect location for new building construction, it may be helpful to survey your employees. You can do this by creating a short survey and asking them to provide their input on preferred building locations. You may be surprised by what you find!
Finding the best location for new building construction can seem overwhelming. However, if you follow these tips, you will better understand what to look for in an ideal building location.