Should I Renovate or Build a New Commercial Space?
Have you been thinking of ways to upgrade your commercial space and you’re stuck between renovating or constructing a new building? Sadly, there's no definite answer to this very important question. Several factors are involved in deciding whether a renovation or new building is best for you. Let's take a look at the things you have to consider before making a decision.
A renovation simply refers to making changes and upgrades to an already existing building. It could be adding new features or updating old structures. Also, the changes could be localized or made to the entire building. Renovations take less time to complete than new structures and will help you maintain the memories you’ve made in the building. It brings the building back to life and restores its vibrancy.
New construction involves taking down the already existing building and starting all over. This means you have an entirely new structure , from the foundation to the roofing. You can also be sure that more efficient and sustainable materials are used in the construction of your new commercial space and you’re free to make as many changes as you like without worrying about the structural impact. Simply put, you can transform the building completely.
Factors to consider for renovation or new construction
Here are some factors to consider before deciding on whether to renovate or build a new commercial space:
Renovations are less costly than new constructions because changes are only being made to existing structures and will not require as much material and time as would be needed for a new construction.
The amount of money you intend to spend on the project will help you decide if renovating is the best option for you or not.
The state of the existing building
Many old buildings were made with outdated building materials that may need to be changed either to meet the new building codes or to meet the recent conditions of the weather and environment. Also, the state of the building will help you decide if renovation is a good idea or a new building is best. Does the structure only require minor touch ups or is it dilapidated beyond repairs; answers to this question will help you make sound decisions.
The available time frame
Renovating or building a new commercial space will require occupants to vacate the building during the project. However, new buildings will take longer as the old building would have to be torn down first. Available temporary office spaces as well as how long it will be available is an important consideration before deciding on whether to renovate or to build a new commercial space
Available labor and resources
Renovating demands less resources compared to new construction; hence the available labor and resources are important factors when deciding whether to renovate or construct a new building.
Both renovations and new constructions are great ways to turn your already existing building to the luxury commercial space of your dreams.
Once you’ve made up your mind, reach out to Luxury Commercial Contractors to get started on constructing your commercial space.