Renovation Or Rebuilding
Like most other commercial assets, your facility may be showing signs of wear and tear as a result of use and age. It may get to the stage where the building is no longer energy or practically efficient.
For example, it may no longer conform to building or fire codes or meet the needs of your business. The next step is to decide what actions to take to ensure that the building remains fully functional, maintains its usefulness, and is aesthetically pleasing. The choice boils down to renovation or rebuilding.
Most people don’t know the differences between the two options and often cannot decide which way to go. Below are a few select factors that may help you decide whether to renovate or rebuild.
When Renovation Becomes The Right Choice
Renovation involves getting a building restored to a good state and condition of repair. The operation is less invasive when compared to rebuilding. The renovation includes making small fixes wherever necessary to repair distress on the building and improve the overall aesthetic of the building.
If the building you are using requires repairs to be made, such as getting the electrical works, or patching cracked walls, renovating makes sense. The general layout and design of the building will remain much the same. The primary concern here is to fix minor issues and create aesthetic changes.
When Rebuilding Is The Right Choice
This is a knockdown and rebuild process. It involves setting up a brand new facility from scratch. When an engineer declares a building no longer safe structurally, a complete knockdown is the right thing to do. This option is invasive and comes with a huge cost implication. Rebuilding may be the option for you if you desire major changes that can not be obtained by a renovation.
As stated before, the cost is a significant factor when rebuilding. If this is the route you choose, there are essential questions to ask, such as how much the procedure will cost, how long it will take, and whether it would be easier for you to renovate rather than start from scratch.
Whichever you choose, exercise due diligence to maximize the efficient use of your efforts. Below are important things to consider when looking to choose between a knockdown and rebuild versus a renovation.
Choosing Between Renovating And Rebuilding
Define The Areas That Need Change
Start by clearly defining what areas of your home need to be remodeled or reworked. Will a kitchen revamp be adequate? Do you require additional rooms or structural changes? If the significant restructuring of the home is needed, start from scratch, as this will help you save money in the long term.
If you are not sure, talk to a builder or building inspector, they have encountered many different home designs and can find one that works for you. You may find that renovation is laborious and time-intensive. In that case, seek qualified contractors, screen them, and have the one you choose to take charge of the rebuild.
The Age Of Your Building
The age of your home is a pivotal factor that is deserving of your consideration. If you work in an old building with character and would like to preserve its history, renovate. If you bought the building or had its ownership transferred to you and are uncertain of its age, you can check the sewer/drainage plan, contract, or meter box. These will give you a basic idea of the age of the building. You could also find this information from council records.
The Cost Of Knockdown And Rebuild
It is understandable if the cost of rebuilding or renovating your building is the most important concern to you. The cost to rebuild vs renovate is perhaps the only determinant for some people. Usually, the cost of renovating is more than that of rebuilding.
Where there are extensive renovations to be done, knocking down and rebuilding may be the better approach. While the option you settle on is up to you, be sure not to overcapitalize your building. The risk of overcapitalization kicks in when adequate care is not taken and the cost of rebuilding or renovating outweigh the market value added to your home.
For instance, homes located in Adelaide suburbs with demand for housing and properties have a reduced risk of capitalization. The cost of renovating gets taken care of by increased demand, which translates to more money for homeowners.
The Orientation Of The Home
This is a simple thing yet one of great importance. Unfortunately, not much attention is given to it by many people until it is too late. This is the reason right when laying the first and basic foundation; you should make sure you are thinking of the end result.
The ideal orientation positions your facility to face the northern sunlight generally referred to as solar light. If your building does not have enough space that can be used for an additional room where you may receive sunlight or where modifications created may block it, then renovating such a facility may not be the right option.
The Timeline For The Tasks
If you have chosen to renovate your facility, your timeline will depend a lot on the renovation’s size and extent. For small rooms, the time for renovations can be as short as one week, while renovations for the kitchen can last two to nine weeks. If your plan is for a knockdown rebuild, this generally takes between 8 to 12 months to complete.
The Renovation Toll
As you knock down and rebuild, use a hands-on approach to get things organized. It is no small task to manage the process, from collecting permits to subcontractors and builders. The whole process can be a bit of a challenge, but it has its reward.
With various subcontractors coming into your building to work at different times, there will be disruptions to your workflow. There could negatively impact workplace moral and productivity.
Rebuilding may be no more different from a building process, and you can expect it to take as much time to complete. After you have made the necessary arrangements, your preferred builder will take over the rebuilding of your home.
Decide Based On Needs And Budget
With the background information you now have, it is really up to you because you will have to fashion out things according to your desires, budget, and your family needs. When all due considerations are given, you should be able to have a facility that best suits the aspirations of your building.
Specifically speaking, by utilizing the services of experienced professionals, you are more likely to succeed in your rebuilding or renovating process.