RENOVATION VS. NEW CONSTRUCTION: WHICH IS BEST FOR YOUR PROJECT?
You have three main options for a construction project: rebuilding, renovating your current room or buying and renovating a new space. Choosing between these options greatly impacts your project’s budget, planning, and the resulting structure.
The option for your project depends on your goals and the building or home itself. This article provides an overview of the general rules by which you can determine when it is better to rebuild than when it is best to renovate.
First of all, we will examine how the option to renovate or rebuild affects the three main factors of your project: cost, duration, and design. Next, we summarize things with a quick look at the pros and cons of these decisions.
Of course, nothing can replace a personal conversation with a construction service professional. Whatever stage of the planning process you are in, we are happy to discuss your specific project and goals. Click here to contact us for a free consultation.
WHAT IS THE MOST COST-EFFECTIVE?
Cost is one of the most influential factors in construction services. We all want the best for the money we have to spend. It often depends on what is more financially sensible when deciding whether to build or renovate a new building.
THE PRICE OF THE NEW BUILDING
It may seem intuitive that starting with a new plot and building a new building is the more expensive option. In exchange for a clean slate, you will be responsible for the entire construction site, the installation of utilities, and the construction of the structure itself, from the foundation to the external cladding.
Since the new building, as a rule, involves a more complex workspace, more person-hours, and more material, this is the more expensive option. However, there are cases when renovations can become more expensive.
THE PRICE OF RENOVATIONS
When you reuse an existing space, you are responsible for the cost of adapting the structure to your needs. They are also responsible for upgrading the current building following modern ADA, Health, and safety regulations. Some features of the existing building may remain unchanged, depending on how extensive the renovations are. These components help keep renovation service costs lower than many new buildings.
However, this will not always be the case. In general, the older the building, the more the renovation will cost. Renovations also leave room for the unexpected, which means your construction team may not be entirely sure what conditions or surprises they will encounter after construction begins, potentially adding cost and time to your project. In particular, it can be the case if toxic building materials such as lead paint or asbestos were used in the original construction and have to be softened.
However, grants or support may help reduce the cost of redeveloping a new or neglected site. It can benefit the community and the environment, allowing governments and outside foundations to provide financial incentives to encourage developers and businesses to reclaim these properties.
On the other hand, renovations are probably the cheaper option if you want to renew and revitalize your existing space, especially if it has been built or updated in recent decades.
As a rule of thumb, renovations are often cheaper than new construction. However, this may not be the case if you renovate a particularly old building that has seen better days.
WHAT IS A SHORTER PROJECT DURATION?
The project’s duration depends on the project’s scale, the condition of the existing building (in the case of renovations), and whether it is necessary to continue the operation of your business in addition to construction activities.
THE DURATION OF A NEW CONSTRUCTION PROJECT
The duration of a new construction project will often be longer than a renovation due to the huge amount of work that needs to be done. You are responsible for creating a site and foundation when building a new building. It would be best if you lay out all the supplies. You will have to rebuild the entire structure from scratch and complete it with finishes.
THE DURATION OF A RENOVATION
Compared to new buildings, renovation service can often be the faster option. Since you do not start from scratch, many necessary building elements are already present. It can be integrated into the renovated building, and your construction team has much less work.
That is, there are some cases where this will not be the case. Especially in the case of older and historic buildings, the project duration may be longer than the time that would have been required for the new construction, especially if there are harmful building materials that need to be softened.
An important factor to consider when deciding to renovate or build from scratch is the impact on your business. If you are remodeling the facility where you are currently working, you may need to adjust your operation to work safely with your construction team. At AMK Construction, we have completed several renovation projects using a multi-stage schedule designed to prioritize your ongoing activities. We work with you to create a project plan that will allow your organization to continue operations while we do our job efficiently and safely.
In most cases, renovating an existing building is faster than building a new one. However, this may not be the case if the building being renovated is particularly old or needs renovation.
WHICH OPTION LEADS TO A MORE ATTRACTIVE AND FUNCTIONAL DESIGN?
The aesthetics of a building sends a strong message to the residents or visitors. Plush surfaces can give the feeling of comfort. Sleek, modern minimalism can communicate efficiency. The layout of your building is also important. When investing in a construction project, you want to be sure that you are satisfied with the result, both in appearance and operation.
DESIGN OF A NEW BUILDING
In most cases, the new construction gives you the most control over how the result will look and how the building will work. A new structure allows you to design the project according to your needs – from size and floor plan to energy efficiency and parking facilities.
REDECORATION OF A RENOVATED BUILDING
In the case of renovations, they are somewhat more limited to the boundaries of the existing structure. While you can move walls, complement the system, and customize the building to suit your needs, you won’t rebuild your vision from scratch.
Renovated and reused buildings can have a unique character or charm that is not easy to compare with new facilities, especially older sites. This charm can go a long way in creating an attractive space where clients, customers, members, or employees want to be. Think of 19th-century factories with brick walls and floor-to-ceiling windows converted into apartments or unique old houses with character converted into offices.
However, beauty is in the eye of the beholder, and functionality depends on your company’s requirements for the new space.
In most cases, the redesign gives the greatest control over the design. In a renovation, you will be somewhat limited by the existing structure, but historic buildings can offer a unique, attractive aesthetic.
PROS AND CONS: NEW CONSTRUCTION VERSUS RENOVATION
In short, the right decision between new construction and renovation depends on the scope of your project.
The new building gives you more control over the project – you can easily adapt it to your needs and goals. However, a new building can be more expensive and take longer than the renovation of a moderate new building.
When renovating a facility, you are somewhat tied to the existing structure, as opposed to the unlimited possibilities that the new building offers you. However, renovation is probably cheaper if you only want to freshen up your existing space.
The decision to renovate an existing building or start building a new one is difficult but important. It will guide almost every other decision you make during the construction project and affect both the budget and the schedule.
AMK construction company is one of the dominant Renovation construction companies in the United States of America. At AMK Construction, we have helped many customers make this decision in our 20 years in the industry. We are happy to discuss your project and help you find the right path.
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