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How to Establish a Budget When Moving Offices

May 12, 2021 by CRS Corporate Relocation SystemsCorporate MovingUncategorised

It’s finally time to move your office to a new location where your employees will feel more productive and inspired, your business will flourish, and your work environment will improve. Most companies find moving to be an exciting time, but it can also lead to stress if there isn’t sufficient preparation, especially regarding the financial aspect of moving.

The first step in preparing for an office move is to create a budget that will help you manage and control your finances and spending during the entire process. To guide you, we’ll walk you through every step of creating a moving budget and provide you with suggestions on how to do it on your own.

How to Set Your Office Move Budget

A realistic picture of the amount of money your company needs to invest in the move is one of the major benefits of establishing a relocation budget. Besides keeping your finances and team on track, it can also reduce moving costs by being a step ahead of potential roadblocks. Taking a closer look at the steps involved in creating your own budget below should be helpful when planning your next work relocation.

Break Down Your Basic Office Costs

An office will naturally incur expenses each month. Most of these expenses are usually transferred to your new office from your old office location. But there are a few key questions you need to consider: will the costs remain the same? Would you expect to experience a similar monthly cost breakdown if you have to switch providers? Will you move your existing office supplies with everything else, or are you buying new supplies?

Some of these recurring office expenses include:

  • Electric bills
  • Gas and water expenses
  • Phone costs
  • Internet expenses (WIFI)
  • General office supplies (paper, pens, envelopes)
  • Machine equipment (printer, fax machines)

Figure out how many of these you’ll need to pay every month to operate your new office and add these costs together.

Calculate the Expenses for Your New Office

When relocating offices, you should include monthly office rent charges into your moving budget, unless you already have a budget allocated to this and plan on deducting it separately. You should add at least a down payment and the security deposit to your budget for the office relocation since both are likely to be made prior to your move. The details you negotiate with your landlord will vary based on your lease terms and may not be relevant if you own the new office space.

Note The Costs of Any New Equipment or Supplies You Need

Buying office equipment is pricey and requires careful planning. Provide a list of all new equipment, furnishings, and supplies you will need to purchase so that the office will be ready for your employees’ return.

What will it take to furnish the new office? Will it require new desks, new chairs, or technological equipment? Do you intend to hire more staff since the office space is larger than the current space and your business is growing?

Make a list of any ideas you have, and make sure that you check online for the prices of all the items you need. There is no need to write down exact numbers; instead, form an estimate that will help you get a general idea of the total cost of the move.

Include The Costs of Any Potential Repairs

With moving comes repair costs; there’s usually no getting around it. Things like replacing the floorboards or repainting can be incurred as part of your office moving expenditures. Before handing the landlord the keys to your old office, you may need to do some office cleaning and repairing. You’ll need to check the agreement you signed with them, but it may not always be mandatory. Conversely, if you are selling the old office space in order to purchase a new one, you may want to add value to the property with minor repairs and remodeling.

In addition, do you have a ready-to-go office you can move directly into or does your new office require some repairs? Get estimates for all the repair tasks and gather all the quotes provided by technicians into one single figure. Do not forget to ask if the materials are covered in the repair professional’s quote or if you’ll be required to purchase them out-of-pocket.

Add in Moving Expenses and Cost of Using Professional Movers

Transportation costs are another item to consider when determining your office moving budget. Many people rely on the services of trustworthy commercial movers to pack and transport all the furniture, office equipment, expensive gear, sensitive files, and more without damaging the contents. Find out about the movers in your area who offer the services you need and compare their rates so you can find the best company for the job. Finally, take into account the costs for hiring a mover, and thereby you’ll begin to narrow down your budget.

Contact CRS Moving & Storage for a Moving Estimate

When you move your business, you’ll likely encounter a few obstacles along the way. As such, it is essential to minimize downtime so your business remains up and running. Moving your office efficiently and on budget is our expertise at CRS Moving & Storage. Our approach minimizes disruption to productivity and offers fair prices designed to meet your expectations and budget.

Our New York City commercial movers are adamant about protecting your property throughout the entire moving process. We bring years of experience in moving combined with cost-effective, hassle-free solutions to make your move as fast and painless as possible. For more information about our services and a free quote, give us a call at 718-424-6000 or complete our contact form today.

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