Sunday, November 16, 2008

Poor decisions can cost big bucks.



Regarding the small business owner, entrepreneur or building owner, there are things that seem simple to do but often I witness them not being implemented by people. What many don't realize is if you make a mistake in the design of your space you will loose money.

For instance, I recently found out about how a building owner incorrectly arranged an apartment they were renovating. Being short sighted and showing their lack of experience, they decided to leave the kitchen and bathroom where it was previously, keeping the apartment a one bedroom with the living room looking into the rear yard. Understanding the cost associated with new plumbing, my solution would of been to re-orientate the bathroom and link the kitchen to this, keeping the plumbing costs the same. The result would be that they could have a 2 bedroom apartment with the living room at the front of the building looking out over the downtown skyline. Obviously they could then easily of ask for another $500/month in rent (not only for the extra bedroom but for the views and overall layout) which translates to $6000 in extra income every year.... that's $60,000 in 10 years. Going rents in that area for a one bedroom average about $2300/month.

As an Architect, I look for simple solutions that yield the greatest impact for my clients. For me it is a balancing act, bringing all the parts of the puzzle into one coherent, inspirational work.

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