Your Fit-Out: Must Haves vs. Nice to Haves
When it comes to fitting out a new space, whether it’s a retail store, restaurant, office space, or some other project, being cost-effective is a priority for tenants. When you work with a construction company like A.F. Alber that uses the principles of value engineering to provide quality and functionality in an economical way, they will help you distinguish between elements of the job that are essential, and those that would simply be nice to have.
When you know the difference between your must haves and your nice to haves, you can make decisions about where you are willing to scale back to cut costs, and where you would like to invest more. Here are a few areas a contractor skilled in value engineering may present to you as options to consider:
- Usable fixtures vs. custom fixtures The space you are fitting out may already have usable lighting and plumbing fixtures. Keeping them and integrating them into your fit-out will cut costs, however existing fixtures may not be high end or perfectly complement the design aesthetic of your space. Fixtures that function properly are a must have, while custom features are a nice to have option you can decide whether to include in your project budget.
- Standard features vs. upgrades
The more basic you keep features, from walls and windows to ceilings and flooring, and the more you utilize what is still functional in the existing space, the less your project will cost. These elements are must haves in most projects, but to the degree they are upgraded to customize their appearance or further enhance their functionality, they could add to overall project cost. Deciding which nice to have upgrades, like custom flooring or doors, are most important to you gives you the power to control where money is spent, and where it is saved.
- Meeting code or making it more efficient Heating, plumbing, and electrical systems are all regulated to ensure the safety of the property and the people who use it. Meeting code is a non-negotiable must have, but going beyond the essentials to make those systems more efficient is a nice to have. The other factor to consider here is that, depending on the length of time you plan to stay in the space, nice to have upgrades to make systems more efficient can in the long run actually save you money in lower utility bills, not to mention less environmental impact. An experienced contractor can help you navigate these considerations so you can decide what is best for you.
- Plain jane design or inspiring spaces Is the goal of your space to simply be functional, or is it important to you to have a space whose design generates interest and inspiration? Functionality through standard, simple, and effective design is a must have. It may be nice to have the design include customized elements that go above and beyond more basic design, and a skilled contractor can walk you through those choices.
In planning and budgeting for your tenant fit-out, know that you have choices in where your money can be conserved, and where you’d like to invest more for greater impact. At A.F. Alber, we specialize in value engineering, and look forward to helping you make your next fit-out both cost-effective and effective in meeting your needs!