Posted on: 6 October 2021
When your business needs a new building, the big decision every owner has to make is whether to remodel an existing building or build a new one. There is no single answer to this question, though, as each has its benefits and drawbacks. To help you decide, here are four key factors to consider and how you might weigh them in the process.
1. Which Costs More?
Certainly, one of the biggest factors for most businesses is which construction project costs more.
Most of the time, constructing a new building from the ground up will cost more than renovating an existing one. This is due to the site preparation work needed and the increased amount of material and labor. However, a building that needs extensive remodeling or which is historic in nature can actually cost more.
2. Which Takes Longest?
How long do you want to spend working on your new building? If you're looking for a fast turnaround, you usually want to work with an existing building. If the skeleton of the building is in place, you can skip forward to making targeted changes that need less time. However, again, extensive changes and updating (such as removing disallowed materials) can slow down a remodel.
3. Which Is More Interruptive?
The extent to which you should consider the business interruption depends on your circumstances. If a business is doing construction on its own site, extensive work can have a huge impact on operations, customers, and efficiency. In this case, the faster you get through it, the less chaos will affect your business. However, if the construction work won't affect daily operations, it may not matter as much.
4. Which Fits Your Branding?
Finally, how do both a new building and an old building fit your brand and business goals? If you want to present your business as caring about the community, renovating an old building could play into that branding. And certainly, historic architecture can create a unique personality for the business.
But a modern tech-based company looking to appeal to forward-thinking youth might suffer if their building seems old and outdated. And the best way to achieve goals like energy efficiency or sustainability is often to start fresh rather than try to make old systems compatible.
Where to Learn More
Which of these factors affects your company the most? Whether you need to focus on cost, on duration, or branding, a commercial construction company can help you decide. Reach out to a commercial construction company for more information.Share