Maybe you’re considering opening your own dentist’s office. Perhaps you’re renting and want to make sure you’re paying a fair price. You might be trying to price out all of the details to make sure this is doable. You might also just be a curious individual who wants to learn more. A lot goes on behind the scenes!
With help from Health Pro Realty Group, which helps people find medical office space in Washington DC, we’ll talk about how much a dentist’s office costs to rent. Then we will look into some of the other parts of this job to consider.
How Much Does Rent Cost for Dentist’s Offices?
This is one of the most basic questions you might have on the topic. It’s also one of the most important questions. The current rate is about $25 per square foot. This can vary greatly though. It all depends on the location, how new the building is, and the size of the building.
In general, you can expect to be paying $25 per square foot for rent. In bigger cities, this may go up. In an older building, you may save a few dollars per square foot.
How Much Space Do Dentists Usually Need?
Dentists need 400 to 450 square feet for each room or area that they have. If you have 4 rooms, you would need 1600 square feet. Don’t forget to add in space for a waiting area and a receptionists’ desk! Depending on the layout, you may need more or less space.
What Are Some Other Expenses That Dentists Have to Pay for?
Aside from the rental rates, dentists have other things to pay for. These costs may be every month or on a more irregular basis. Here is a list of just some of those expenses:
- Utilities, such as water, electricity, and gas
What Is a Dental Patient Paying for?
According to CBS News, it’s estimated that 60% to 80% of a patient’s payments are keeping the office running. When patients pay for a filling, they might also be paying for the rent, supplies, and more!
This is exactly why dental prices may seem high. It can cost a lot to get a dental procedure done—no matter how big or small! This is simply because there are so many things for the dentist to pay for. Without the steady flow of patients, the dentist won’t be able to keep the utilities running.
Are Dentist Office Rental Prices Increasing or Decreasing?
The cost of rent is going up. This has been happening throughout the United States. The reason for this is likely the increase in dentists needing space. More people have chosen to be dentists, which means that there is a greater need for the rental property. Because of this, landlords must raise the rent.
Overall, it seems like dental real estate is becoming stronger too. This makes it a challenge for dentists to keep their existing rental agreements. If they can keep the one they have, they will have to pay more.
Is It Better to Rent or Buy a Dentist’s Office Space?
This really depends on your financial situation and where you hope to be down the road. Renting can be a pain, but the process of building your own space can be tricky too.
According to Dental Economics, there are a handful of factors to think about in this situation. First, you should realize that your emotions are likely playing a significant role. This is normal. You just need to be aware of these emotions and add some logic to your choices. You might be pretty excited to build your own office, but you still need to think about finances and other factors.
Next, you need to consider the location. If you rent, you have the flexibility to move every year if you want to. This can be helpful as the neighborhood grows or shrinks. Owning your office means you are somewhat committed to staying in one spot. This could end poorly with changes to the city.
Finally, you need to think about your position financially. Do you have the money to develop your own office? How will this affect your profits? Would you have to take out a loan? This is a huge decision that should not be taken lightly. Get some advice from your colleagues and other dentists you know.
It costs an average of $25 per square foot for dentists to rent out space. Keep in mind that lots of factors go into this. The location of the office is a big contributor to rental rates. Rates do tend to go up over time as well.
When you rent a dentist’s office space, you need to make sure you are aware of the other costs. This includes things like supplies, insurance, taxes, utilities, and more. A lot goes into running a dental practice.