Rent: The ultimate decision maker

Searching for office spaces is exhausting, right? 

It includes numerous factors that must be taken into account. Factors like location, budget, amenities, proximity to public transportation, market, etc. have the potential to fluctuate your decision making.

To get it right, let us bifurcate these factors into primary and secondary ones. Primary factors are the most important ones, they alone can change your decision making process completely, while secondary factors can be compromised. Primary factors include: Location and Budget (rent) while rest fall under the bracket of secondary factors.

Getting it right, a lot of necessary aspects drive your decision making, you rent or buy property based on which. Clearly renting is the ideal choice between the provided options, why?


Because:-

  • It is the ideal choice because it is cost effective
  • You get to choose between your desired locations without a thought about how much money to invest, obviously because you are renting and not buying!
  • There is a room for change, if at all you don’t find it feasible you can always shift.

But, during this whole big-big process of finding a space and then shifting and then what not you always have to make a checklist. Previous blogs have been clear about what checklist factors should be mentioned and how important they are. This blog will have an idea about “budget” or what we call “rent”.


Why is Rent or Budget decided first?

You know this, whenever you plan for a trip what is the most important factor that comes to your mind? Budget right. The ideal thing to do is make your budget for the trip and then plan the days and events accordingly. 

This is the very first thing to do in this or in any investment case. Work based on your budget. Being a startup or even a company you don’t really can invest how much or whichever amount is asked, there needs to be a boundary that we call here budget set.


DO NOT CROSS YOUR BUDGET IN ANY CONDITION.

Significance of Budget or Rent. Explained.

  • It helps you to understand the amount of money you currently have in-hand, that is the money that can be used without hampering the other activities of the space.
  • Clearly rent is not the only thing that you have to take care of as an owner. There are other things like salary, basic expenses and necessities so it is important that we make a budget and cover other expenses based on that. It helps you manage everything well.
  • It draws your attention to the details of investment and expenses.
  • Is this point even considered? But, allow me to say, it RUNS the company (obviously).

Conclusion:

We have been hearing this for a long time that the correct location has the potential to change your decision of finalising a space but then there is another factor as well. Budgeting at the same time plays the equal role, if not it even is more important as compared to any other factor. You can find a substitute for location by finding another place which is near the desired location or any other part of the city that is a hub to companies but this does not happen with budget, it should never be!

Rent or budget is pre-determined by your convenience and if you hamper it, it hampers every other expense eventually. Think carefully on that note, indeed rent is the ultimate deciding factor. Happy searching!


 

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