1. If your company is young or struggling with cash flow issues, leasing is safer for the business than trying to string together the financing to buy or build a new facility.
2. When building from the ground up, make sure the new property will allow for future expansion, while staying within local zoning codes. Requesting a variance to local zoning laws is time consuming and there is no guarantee you will get it.
3. Build bigger than you need. The reason for a move or expansion is because the company is growing and will likely continue to grow. Even if you don’t use it, the extra space will be an asset when you ultimately sell the building or lease it to another company.
4. Contact business associates who have recently gone through similar building projects. Find out who their general contractors were and whether they were pleased with the work.
5. When designing a new facility, show the architect the portions of your existing building that you like and compile a wish list of design features you want as part of the new building.
6. Know when you want the job completed. Have a timeline in place before you start interviewing contractors. That way, there is clear communication about when the work needs to be done.
