Things to consider before deciding to renovate your existing building.
There are many reasons a building owner could decide to renovate their existing commercial building. Is the building going to be re-purposed for a new use? Do you want to split up your building and rent it out to more tenants? Or, is your building simply aged and no longer fulfilling the purpose it was intended for? A partial, or full building renovation can revamp a whole building’s look and use without the costs of constructing a entirely new structure. An owner should thoroughly consider all the options available before starting to renovate, as there can be expensive dangers potentially detrimental to your wallet.
Zoning regulations should be checked prior to any step in the renovation process, especially if you are changing the overall use of your space. The last thing you want to do is start construction and find out that the city does not allow your new type of space in that zone. Different cities have different zoning laws so these must be examined specific to the area of the building.
If a building is old or has a lot of unknown circumstances, caution should be taken before renovating. Construction can uncover unforeseen issues that cause delays and higher costs. Things like asbestos or old piping that weren’t documented can cause instant changes in the progress of construction.
Another key thing to anticipate when renovating is interruptions to the current occupant of the building. Is construction going to work around the occupants and cooperate with their needs? Or are the tenants going to leave the space completely until renovations are complete? Renovations aren’t building new space, so users may have to function temporarily in half of the space they used to occupy. Construction may also be loud, messy and bothersome if the occupants choose to stay during the remodel.
Remodeling versus New Construction
Renovating an existing building can be advantageous over new construction or expanding a space for a few main reasons. Remodeling projects are typically the fastest. Tear out the old, put in the new. There normally is not a lot of time-consuming structural components or changes to be made because the renovation is designed around the existing shell of the building. For these same reasons, remodels tend to be a much cheaper option than starting from the ground up.
Efficiency is another significant reason to choose remodeling. A company often occupies a space only to find that their day-to-day operations are just not running smoothly. Either the building was not properly designed for its intended use, or technology adapts and changes the process by which a company functions. An owner can choose to remodel with the intent to fix all the problems with work flow and maximize the productivity of their employees.
The decision to remodel can be valuable to a building’s life cycle and purpose. Don’t jump the gun right away though, there is a great deal of consideration to ensure that it is the best option for your space. If you’d like assistance going over all of your options, give us a shout out, we’d love to help you.