When it comes to a building project, you have two options: build new/new construction or renovate your current space. Choosing between these two options will have a significant impact on the budget, timeline, and structure of your project. The best option for your project will be determined by your objectives as well as the building or property itself. In this article, we’ll lay out some general guidelines to help you decide when it’s better to build new versus renovate.
First, we’ll consider how the decision to renovate or build new affects the three major aspects of your project: cost, duration, and design. Then we’ll wrap it up.
New Construction:
When you decide to build a custom home, you and your team (architect, builder, and interior designer) work closely together to decide on every aspect of your new home, from the architectural style to how it will be placed on your lot to the type of finishes that will be used throughout.
Renovation:
Making changes to your existing home is what renovation entails. A home renovation can range from a single-room makeover to a total interior gutting. You still have a lot of say in the final product, but your wishes must fit into a pre-existing space.
COST-EFFECTIVE:
One of the most important factors in a construction project is the cost. We’re all looking to get the most bang for our buck. When deciding whether to build new or renovate, it often comes down to which option makes the most financial sense.
THE PRICE OF BUILDING NEW:
Starting with a new plot of land and constructing a new building may appear to be the more expensive option. In exchange for a clean slate, you’ll be responsible for all site work, utility installation, and structure construction from the foundation to the exterior finishes. Building new is the more expensive option because it typically includes a more complex scope of work, more man hours, and more materials. However, there are some circumstances in which renovations may become more costly.
THE PRICE OF RENOVATIONS:
You will be responsible for the cost of changing the structure to suit your needs when repurposing existing space. You will also be in charge of updating the existing building to meet modern ADA, health, and safety codes. Depending on how extensive the renovations are, some of the existing building’s features may be retained. These components help to keep the cost of renovations lower than the cost of many new constructions. Renovations, on the other hand, are likely to be the more affordable option if you’re just looking to freshen up and revitalize your existing space, especially if it was built or updated within the last few decades.
PROJECT DURATION:
The duration of the project will vary depending on the scope of the project, the condition of the existing building, and whether your organization’s operations must continue during construction.
DURATION OF A NEW CONSTRUCTION:
Due to the sheer amount of work that must be completed, the duration of a new construction project is frequently longer than that of a renovation. You are responsible for preparing the site and laying the foundation for new construction and must lay all of the utility equipment. You must construct the entire structure from the ground up and then finish it.
DURATION OF A RENOVATION:
Renovations are a faster option as compared to new construction. Your construction team will have much less work to do because you are not starting from scratch and many of the necessary building elements are already in place and can be integrated into the renovated building. However, there are some cases where this will not be the case. Project durations, particularly for older and historical buildings, can exceed the time required to construct new ones. Especially if there are hazardous building materials that must be avoided.
The impact on your operations is an important factor to consider when deciding whether to renovate or build from scratch. If you’re renovating your current location, you may need to change your operations to work safely alongside your construction team. Horst Construction has completed several renovation projects that made use of a multi-phased schedule designed to prioritize your ongoing operations. We’ll collaborate with you to develop a project plan that allows your organization to continue operating while we complete our work efficiently and safely.
ATTRACTIVE AND FUNCTIONAL DESIGN:
The aesthetics of a building send a strong message to those who live in or visit it. Plush finishes can convey a sense of comfort. Modern minimalism that is sleek and modern can communicate efficiency. The layout and design of your space are also important. When investing in a construction project, you want to be certain that you are satisfied with the outcome, both in terms of appearance and functionality.
DESIGNING A NEW BUILDING:
In most cases, building new gives you the most control over how the building will look and function. With a new building, you can tailor the project to your exact specifications, from size and layout to energy efficiency and parking.
RE-DESIGNING A RENOVATED BUILDING:
Renovations are more constrained by the confines of the existing structure. While you can move walls, add on to the structure, and modify the structure to meet your needs, you won’t be able to build your vision from the ground up. However, renovated and repurposed buildings can have a distinct personality or charm that is difficult to match with new construction, particularly on older sites. This charm can go a long way toward creating an appealing environment that customers, clients, members, or employees will want to be in. Consider repurposing 19th-century factories with brick walls and floor-to-ceiling windows into apartments, or turning a unique old house bursting with character into an office.
PROS AND CONS:
To summarize, the right choice between new construction and renovation will be determined by the scope of your project. Overall, starting from scratch gives you more control over the project because you can easily tailor it to your specific needs and goals. However, new construction may be more expensive and time-consuming than renovating a moderately new building. You will be somewhat restricted to the existing structure when renovating a facility, as opposed to the unrestricted options provided by new construction. However, if you only want to refresh your existing space, renovating will most likely be the less expensive option. Choosing whether to renovate an existing building or start from scratch is a difficult but necessary decision.
COMPARING:
The decision to renovate or build new is influenced by personal factors that are unique to each person and situation. New construction makes it easier to determine a layout and floor plan; renovation limits the changes. The timelines for new construction versus renovation differ. There should be no weather delays if your renovation project is entirely interior. Weather can impede the construction of a new house until it is enclosed and weather-proofed.
The cost difference is determined by the scope of the renovation; however, there is always the possibility that unexpected findings will cause costs to rise. A new home will not conceal asbestos, rotted wood, or a non-compliant electrical or plumbing system. Your final decision is influenced by your needs, situation, and budget. If you already own a home that you adore, renovation may be the better option. The desire for a home that is built exactly to your specifications can influence the decision to build new.
WRAP UP:
It all comes down to you
The most important thing, at the end of the day, is to always make the best decision for you and your circumstances. Whether it’s deciding whether to renovate rather than buy or build or determining what type of property you can afford, always do your research, and then do some more. It’s all too easy to become overwhelmed during the renovation, building, or home-buying process, so taking the time to research and plan will ensure you have the best chance of success.
