The best place to start is through initial discussions with everyone involved. Topics that should be on the table include:
These won’t be the only discussion points, but they provide a solid start towards making a beneficial decision.
Renovating an existing building can often be more cost effective and sustainable up front. However, what seems like a more affordable option might not always be the best choice when weighed against long-term goals or other factors. For example:
Every renovation and upgrades bring the value up. The rule of thumb says: every dollar invested in kitchen renovation brings two dollars back in profit. Kitchen is the most important place in all house. The first impression is the most important: build the entrance/lobby to the highest standards, inviting and warm.
New building codes are constantly changing, and it’s likely that additional requirements have gone into effect since the time the original building was built. If you choose to renovate, you may be required to bring the entire building up to the current code. This can potentially change the cost, depending on how old or outdated the existing building is, and how much additional work is required to meet current building codes.
The history of a building speaks a great deal towards how long it will be able to serve a purpose from a physical standpoint.
Asbestos, certain paints and cleaning materials can have a substantial influence on the cost and progress of renovation, given the current laws surrounding these chemicals. If you suddenly find these chemicals in the middle of a renovation, it can cause time delays and rack up additional costs.
Building from scratch might be the more costly option, but it comes with several benefits and can be less restrictive than renovating. These include:
Designing and building a new facility from scratch allows for more control over energy consumption. The building materials, floor plans, and electrical and plumbing systems can all be built with energy efficiency in mind, thus reducing energy costs in the long term.
Older buildings are often unequipped for modern technological needs, especially when it comes to electrical systems. One of the advantages of creating a new building is the ability to integrate electric systems with digital and remote automation with green living and comfort.
New materials combined with construction warranties means your building will likely require less maintenance over a long-term period.