You have found a perfect space for your office. That’s great!

It has all the amenities you need and even the space to cater for future growth. Perfect!

But how do you ensure that you don’t overpay for it? Tricky, right?

Sometimes it takes so long to find the perfect space that when eventually you find it, you are willing to pay any price just to avoid having to look for another one.

You don’t want to let it go only to start from scratch and spend more valuable time hustling and viewing office building after office building.

Sometimes, your emotions and frustrations can get the better of you — the excitement of moving to a new location or owning your first office can also cloud your judgment.

According to studies, 95 percent of our purchase decisions happen unconsciously. In the process, you overlook potential negatives and get overly excited about the positives of a space.

Or you just simply want to get this over and done with.

Don’t fall for any of these traps.

The perfect office space in Glasgow isn’t so perfect if it costs more than it should.

Let’s make sure you don’t get there:

How to Avoid Overpaying for Your Office Space in Glasgow

1. Hire an Agent

To find the right space at the right price, get an expert involved. A commercial broker, for example, will have your best interest at heart. They will handle your office search and help you negotiate the lease.

They will guide you through the negotiation process and explain all the things you need to know. They have worked with other clients and know the leasing process by heart – so you don’t have to. Hiring one helps your company get the best lease terms possible.

2. Research before Leasing

Go online and find out the average price for the office spaces like the one you have picked. You will get great estimates and probably access to other spaces within the same price range. Investigate what other tenants at properties like the one you chose are paying.

Look at other spaces in the neighbourhood with similar specifications and compare prices. It will give you an idea of the average rate for the office space you like. Ask around and investigate.

Do not rush into signing the lease. Ensure that you have all the facts about the commercial real estate market in the area before committing to an office space. If you have any doubts, as your broker to find you a better deal.

3. Create a Checklist

A checklist will help you remain objective throughout the search process. You will not just choose a space because you like it, but because it helps fulfill your business needs.

Write down the pros and cons of each space you visit in Glasgow and then compare the outcomes. Know what on your checklist is non-negotiable and what you can let go of. Be willing to walk away if a landlord does not offer you the fair price you want.

4. Be Prepared to Negotiate

During your search for perfect office space in Glasgow, determine how much space you need to fit in your employees, the common areas and the number of parking spaces you require. Don’t make rough estimates here; know exactly what you need.

If you sit at the negotiating table without knowing how much space your business requires, then you will end up will less square footage than you needed. Have a fit-out company or architect calculate your ideal space.

5. Inspect Lease Documents Thoroughly

When you begin negotiations, there will be loads of paperwork. Carefully review each document before signing. Make sure there are no hidden clauses or fees. Double-check that the property doesn’t need more work than you initially discussed with the owner to avoid overpaying for repairs.

Legal help is crucial during this moment since it helps you avoid pitfalls you may have overlooked. Hire someone to inspect the air and heat conditioning units, too, to ensure no repairs are needed.

6. Focus on the Total Cost

Typically, the price of office spaces is listed per square foot. But this doesn’t mean it’s the final price.

Make sure you get a breakdown of the total cost per month. It will help you avoid paying for unrecognised useless spaces or any unexpected charges.

Get an architect to help you recognise any dead spaces, especially if the building has an unusual shape. If possible, ask for the layout of the building to get a sense of any unusable space.

This will also protect you from losses down the line if the landlord decides to do space re-measurements or recalculations for accuracy. Lockdown on this clause by having an airtight renewal option included when signing the lease.

7. Avoid Bidding Wars

Do not get caught up in a bidding war. A bidding war drives the price up. Walking away may be the smarter choice. Besides, some of these bidding wars might even be choreographed.

Conclusion

No one said that finding the perfect office space in Glasgow is easy. Or cheap.

But if you pay extra attention to the usual office leasing pitfalls, you will pay a fair price for the office your business needs.

Hiring a broker or a fit out specialist may sound like an extra expense. However, it may be just the thing that prevents you from paying more than what a space is worth. A commercial real estate broker knows the market much better than you do. They can tell you which price is fair and which isn’t.

A commercial fit out specialist can easily tell you if you will be able to turn the space you want to rent in an adequate office that meets your brand guidelines and your employees’ needs.

Leasing a new office space is an expensive endeavour. Make sure you get it right from the very beginning or you may end up tied in a lease agreement that puts a serious dent in your company’s cash flow for years to come.