Business owners: Should you remodel or rebuild?

/in /by

Six considerations when determining the best course of action for your growing business

So your office or retail space is getting a little old, or maybe you’ve added more employees and need more space. At any rate, a need to expand your office or shop is generally a good thing. But deciding whether to renovate or build a new space from scratch can be a tough call.

Leon Williams Contractors can do the job regardless of your decision and can even help you decide whether to remodel or erect a brand new structure. In this and upcoming blog posts, we’ll share our East Tennessee design-build expertisein weighing the pros and cons of each option.

Here are six considerations if you are leaning toward a renovation of your office or retail space:

  1. It can be cheaper in the short-term to remodel or expand an existing structure. What you are sacrificing, however, is the ultimate longevity of your building. A new building will last much longer.
  2. Some bad surprises can accompany a remodeling project. If you find asbestos or other hazardous materials during remodeling, it could drastically increase the cost.
  3. Renovations can generally be accomplished in less time than building a completely new structure.
  4. Does your existing building hold historical or architectural significance that can be retained with renovation or remodeling? If it does, it may be worth more than you know, and you could be abandoning an asset if you decide to construct a new building.
  5. Economic factors.What is the economic pulse of your current location? Is it on the upswing or stagnating? If you are in a booming part of town, it might benefit you to stay put and remodel your existing building. The contrary may be the case if your neighborhood is in decline.
  6. What is the scope of your plan? Can remodeling or renovations be done without drastic disruptions to your office functions?

Deciding between a renovation and a new building is a good problem to have. It means your business is growing. There are many variables to consider. Our design-build experts can help you decide the right course, and we’ll be with you every step of the way regardless of your decision. Contact us today about our Knoxville-area renovation services.