There are many different variables when choosing between renovating an existing building or simply building new. Both options have their advantages, and both have potential problems. This means the best choice is going to be the one that serves the bigger picture. By comparing the pros and cons of each option, the decision becomes a bit clearer.
Not all renovations are a simple matter of giving an existing building a facelift. There are a lot of factors involved such as the age of the original structure. If you have the plans and building history, it’s good to know when the building was last renovated, and what work has been done. If this is the first renovation, you might find yourself dealing with outdated wiring and plumbing, hazardous materials like asbestos, all of which can suddenly cause time delays and additional costs you hadn’t planned on.
Another factor to consider is how you intend on using the structure. If your plans involved tearing down walls, you might find your creativity dampened by important load bearing walls containing crucial wiring or plumbing.
Building from scratch might seem like the more costly option, especially if you need to demolish the old structure first and clear the land. However, there are several benefits to consider. The most obvious one being that it is less restrictive than renovating.
You not only have total creative freedom when building from scratch, you also have the advantage of equipping the new building with modern technological systems, which can be more cost effective and environmentally friendly in the long run.
Another cost factor to consider are the short and long-term maintenance needs. New construction often comes with warranties, as well as most new materials. When building from new, you have the security of knowing maintenance costs will be covered by these warranties. This may not be the case when renovating.
The Long and Short of It
Depending on the changes you are planning on making, renovating a structure can be the more cost-effective option. This mainly depends on the age and current condition of the building. Bringing outdated wiring, plumbing, and building materials up to current code can quickly eat away at a budget. However, if you don’t plan on knocking down a bunch of walls, you might find that renovating is the better option. Whether you are interested in remodeling your home or creating a brand-new space to call lay your hat, Broussard Home Services will be happy to work out the best option for you and your budget. Contact us today for a FREE consultation.