If you’re a small business owner looking to expand your operations, you’re going to be faced with a critical decision: should you renovate your current space to suit your growing needs, or should you start anew and construct your new facilities from the ground up? Each option comes with pros and cons, which must be weighed before making a decision.
Pros of Renovations:
- Cost Savings: Renovations are often more cost-effective than new small business construction.
- Time Savings: Since the basic structure is already in place, renovations are generally faster than new builds.
- Location Consistency: If staying in your current location is important, renovating is often the best choice to keep things consistent.
Cons of Renovations:
- Design or Structure Limitations: Building off of your current structure often comes with limitations on the size, layout, and overall scope of a project.
- Underlying Issues: Older buildings may have hidden issues, commonly with systems like plumbing, HVAC, or electrical, that make renovation difficult and can add unexpected costs.
- Aesthetic Constraints: If you want a totally new look, renovations can quickly get just as costly and complex as a new small business construction project.
Pros of New Builds:
- Customization: If you’re starting with a blank slate, you can customize every feature of your new structure so it’s perfectly tailored to your needs and references.
- Energy Efficiency: Opting for new small business construction gives you the opportunity to choose energy-efficient technology at every turn.
- No Hidden Issues: A new small business construction virtually eliminates the need to worry over underlying issues, since everything will be new.
Cons of New Builds:
- Higher Cost: Starting from the ground up is typically more expensive than building off an existing structure, between land purchases, permitting, and the small business construction process.
- Extended Timeline: Starting from scratch takes longer than working off an existing building.
- Relocation: If you choose to knock down the existing building and rebuild in its place, you’ll have to relocate temporarily, which comes with added costs and inconveniences.
Our team at Gibson Custom Construction is here to help, no matter which type of small business construction you choose. Reach out to us today to get started!