Existing building renovation is a profitable construction business segment since it provides financial diversification for construction stakeholders. Building owners are frequently faced with deciding whether to build a new or renovate an existing structure to achieve their desired scope. This difficult decision might impact the project’s budget, timeline, and resulting structure. Your objectives and the building or property will determine the best alternative for your project. Decisions, it has been proposed, are a function of a person’s resources, goals, and orientations. Decision-making is a complex process in general because of unforeseen occurrences, risks, and uncertainty. As a prominent renovation contractor in Penang, we will lay out the main criteria to assist you in determining whether it is better to build new vs. renovate.
Which is the most cost-effective?
One of the most critical variables in a construction project is cost. We are all looking to get the most bang for our buck. Therefore, it typically boils down to which option makes the most financial sense when deciding whether to build new or refurbish.
Starting with a new plot of land and constructing a new building may appear to be the more expensive alternative. In exchange for a clean slate, you will be responsible for all site work, utility installation, and structural construction, from the foundation to the exterior finishes. Construction contractors in Malaysia are often more expensive since they contain a more extensive scope of work, more man hours, and more supplies.
On the other hand, you will be liable for the expense of modifying the structure to meet your demands when refurbishing an existing area. You will also renovate the current structure to meet modern ADA, health, and safety requirements. Depending on the renovations, some of the previous building’s elements may be retained. These components help to keep the cost of renovations lower than the cost of many new constructions. This, however, will not always be the case. In general, the older the building, the higher the expense of the renovation. Renovations also leave room for the unexpected, which means your renovation contractor in Malaysia cannot be sure of what problems or surprises they will encounter once the building begins, which might potentially add expense and time to your project.
Which has a quicker project duration?
The project’s timeframe will vary depending on the scale of the project, the state of the current facility, and whether or not your organization’s operations must continue during construction.
Due to the sheer quantity of work, the duration of a new construction project is frequently more prolonged than a refurbishment. You are responsible for preparing the site and laying the foundation for further development. All utility equipment must be installed. You will need to build the entire project from the ground up and finish it with a construction contractor in Malaysia.
Renovations are frequently the faster alternative when compared to new construction. Your renovation contractor in Malaysia will have significantly less work to perform because you are not beginning from scratch, and many of the necessary building parts are already in place. They can be integrated into the remodelled structure. The influence on your business is critical when deciding whether to renovate or build from scratch. If you are remodelling the facility where you are presently functioning, you may need to alter your processes to work safely alongside your renovation contractor in Malaysia.
Which option results in a more attractive and functional design?
The aesthetics of a structure transmit a strong message to those who live or visit it. Plush finishes can convey comfort. Modern minimalism might indicate efficiency. The layout of your facility is also essential. When investing in a building project, you want to be certain that you are satisfied with the outcome.
In most circumstances, a construction contractor in Malaysia gives you the most influence over how the building will look and function. With a new structure, you may tailor the project to your specifications, from size and layout to energy efficiency and parking.
Renovations are more constrained by the limits of the current structure. So 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.
Pros and Cons: New construction vs. Renovations
To summarise, the choice between new construction and renovation will be determined by the extent of your project. Overall, starting from scratch gives you more control over the project. You may easily customize it to meet your specific demands and objectives. However, new construction may be more expensive and time-consuming than remodelling a somewhat new building. In addition, you will be somewhat restricted to the current structure when renovating a facility, as opposed to the available alternatives provided by new construction. If you only want to refresh your existing area, renovating is likely to be the less expensive alternative.
ENT Construction is a top renovation contractor in Penang. If you are concerned about the project’s duration, we have executed various renovation projects that used a multi-phased timetable designed to prioritize your ongoing activities. We will collaborate with you to develop a project plan to allow your business to continue operating while we swiftly and safely complete our work. Furthermore, throughout our years in the market, we have assisted numerous clients in making this selection. We’d love to discuss your project and help you determine which option is best for you.
