Do you have an old building that you haven’t updated in a long time? You may need to do some renovation work if you want to make some aesthetic updates. Commercial buildings conduct renovations on their interior or exterior facades, especially if it’s already been years since they last made some improvements.
But before you dive into commercial renovations, it’s best to figure out the different pros and cons. Knowing the ups and downs of commercial renovations can help you decide whether it’s the perfect time to do it or not.
Advantage: Better Building Aesthetics
One advantage of commercial building renovation is it improves your building’s overall aesthetics and appeal. It’s essential that your building looks nice both inside and outside because you want to give an excellent impression to your tenants. Whether they are customers or office employees, seeing a well-designed building can make anyone’s day. If your renovation involves your roof, you should install roof hatches safety railings to give contractors safer access.
Disadvantage: Halt Building Activities
During a renovation process, the contractors work on a specific building area with people staying around. They can’t do their jobs if there are people in the way for many reasons, like public and worker safety. When people are walking around on a renovation site, it can mess up the entire process.
One way to avoid this is by closing off that area until the contractors finish their jobs. It means that people working in that area will halt operations, which can make them lose money. The longer the renovations, the more lost profits there will be. The time it takes to finish the renovation will depend on the project’s scale. If you renovate a more significant portion of your building, it will take up more time.
Advantage: Increase Building Value
Whether you plan on selling or updating your building’s appearance, renovations can add more value to it. Many commercial building owners do renovations before they sell it, and they get twice the profit over a simple renovation job. You can have contractors repaint your entire building, and it won’t take up too much of your budget.
Adding a new feature to the building, like a roof terrace, can significantly boost its price value. A good renovation tip to gain a significant increase in price value is to incorporate modern designs. Today’s commercial buildings will always have that modern or futuristic appeal, which many people want to see.
Disadvantage: Irreversible Building Damage
If you want to do building renovations, make sure you choose contractors with years of experience and an excellent reputation to deliver quality services. Without professionals handling the renovation, your building can run into irreversible building damage. It usually happens with old buildings that haven’t had maintenance in years.
Before conducting commercial renovations, hire inspectors and surveyors to determine whether the building still has excellent structural integrity. If they give you a report filled with more building damage, never push through with the commercial renovations and move to a building with better structural integrity.
Advantage: Provide More Building Space
Over time, your building will have many occupants that might complain about lacking space. Fortunately, you can expand your building space by doing commercial renovations. If walls separate offices, you can have them destroyed to free up more space and provide additional walkways for people.
Aside from creating additional interior space, it can also positively change the atmosphere. People staying in cramped building areas get irritated quickly and prevent them from doing their office tasks comfortably. Once you receive complaints from your building tenants about lacking interior space, ensure you quickly renovate.
Disadvantage: Unforeseen Events
At one point, you won’t have complete control over your renovation because of uncontrollable events, such as lack of budget or erratic weather. The weather can sometimes not cooperate if you’re doing exterior renovations, forcing the contractors to stop the renovation. If you run out of budget, you’ll also have to stop renovations until you can come up with the funding to make it continue.
Many other unforeseen events may ruin your renovation, so it’s a must to prepare for them. You have to consider the possibilities of what will happen when you begin and find solutions to continue the renovations.
Advantage: Fix Existing Building Issues
As mentioned a while ago, you might not be able to renovate your building because it’s too old. But if your building is still new and has some minor issues, you can fix them by doing commercial renovations. An example is when your exterior walls have large cracks. Your contractors can improve them and repaint the wall with a new color, giving your building a fresh look. Renovation is also the best course of action for recurring building issues looming around for a long time.
Since you now know the pros and cons of commercial renovations, use them now to your advantage if you want everything to go smoothly.