Chances are if you have, or plan to have, a commercial business on Roatan, you will one day need to consider between commercial construction and commercial renovation. Both come with their own pros and cons, which we have assembled in this article to help you make an ideal and informed decision for your commercial project.
COST
As with most decisions in life, affordability will be a factor. Generally speaking, renovations tend to be more affordable than new construction. However, this can also depend on the type of renovations you will need. Renovations that require a refit of the HVAC System, for example, can rack the bill up quickly. While initially the cost of commercial construction is higher, it does lend more versatility and freedom for choosing the overall design, layout and location of the space. When it comes to the cost of commercial construction vs commercial renovations, your individual budget will be the ultimate deciding factor.
AGE OF THE BUILDING
The perks of a new building mean newer building techniques, newer materials, and newer foundation. These modern materials will give you a grace period before renovations, updates, and repairs need to be made. While preserving the history of an older building is a wonderful contribution to local culture, it is important to examine how often (and how expensive) repairs and renovations will need to be made to keep the building operating smoothly and safely.
TIME NEEDED TO COMPLETE THE PROJECT
How much time do you have to spare for your project? Renovations tend to be a faster solution, which is an ideal option if the building will still be in use for the duration of the project. New construction will take more time, but proper planning and open communication with your project manager will encourage the project to stay on track and on schedule.
Ultimately the decision to renovate vs construct for your commercial project will depend on how much money you have to spend, how much time you have to spare, and how much of both you have to lend for repairs and upkeep. If you are looking for a timely and affordable option, renovations may be a better option. But if you want full control over aesthetics and don’t mind a price tag, commercial construction is for you.
Our experienced and professional team at Treasure Island Construction is happy to help with your commercial renovation or commercial construction project. Contact Victor today to discuss your options!
