Construction projects come in a variety of different shapes and sizes. The decision to renovate an existing space or start fresh with a build-out can be difficult for business owners to make. Each option comes with its own set of benefits and challenges, so deciding which best fits your needs takes careful consideration. In this blog, we will discuss important factors to consider when deciding between a build-out or renovation for your construction project.
Which is More Cost Effective?
When it comes to something as important as a construction project, the overall cost is one of the most influential factors. Oftentimes, deciding between a build-out or renovation comes down to which makes more sense financially.
It’s self-evident that building out an empty commercial or residential space is the more costly option. Build-outs typically include a more complex scope of work as well as more man-hours and materials. However, there are instances where renovations can become more expensive. When repurposing a current space, you must adhere to the requirements for altering a facility per ADA. You’ll also be responsible for upgrading the existing building per modern ADA health and safety codes. Some features of the existing building can be left as is and won’t drive up the cost.
Generally, build-outs are more expensive than renovating an existing building, but many factors can contribute to higher costs such as the age of the building or how extensive the renovations must go.
Which Results in Better Functionality?
The layout and functionality of your facility are as important as the overall cost. You want to ensure that you are happy with the results of your investment, both in looks and function.
In most cases, designing a new building allows you to have full control over how the facility will function. You can design your project to perfectly fit your needs – from size and layout to energy efficiency and parking. With renovations, you are a little more limited to the layout of the existing structure. While you can certainly move walls or add to the structure, you won’t be building your vision completely from the ground up.
Pros and Cons of Both Options
Deciding between a build-out and renovation will have a big impact on your project’s budget, schedule, and the resulting structure. To help clarify which option best suits your needs, here are the pros and cons of both.
The pros of a build-out include:
- More control over the project’s design and aesthetics
- Increased space and energy efficiency
- Fewer chances for unforeseen construction problems
The cons of a build-out include:
- Typically more expensive
- May take longer depending on the scope of the project
The pros of a renovation include:
- More cost-effective, depending on the age of the building
- Shorter construction duration
- Can possibly keep existing features
The cons of a renovation include:
- May require a complex schedule to limit disruptions to your operations
- An old building may need new materials which can be expensive
- Limited in scope and layout design
No matter which option your business decides to choose, having the right construction partner with deep knowledge of the industry is of the utmost importance.
Guiding You Through All Your Construction Needs
Whether your company needs a complete build-out or a renovation of an existing building, Poli Construction is here to guide you through the construction process. What separates us from the rest is our commitment to creating lasting relationships. Our team will involve you every step of the way to ensure we fulfill your vision. To connect with construction professionals, please contact us today and see how we can help.