Constructing: Build New or Renovate Old?

Many people struggle to decide whether to build new or renovate existing structures. The truth is, there is no straightforward answer to this dilemma. The choice depends on various factors, such as cost, design, and duration. The decision to renovate or build new will significantly impact these factors in one way or another.

Therefore, it is crucial to outline the goal you want to achieve because it will determine the intensity of the project. For instance, if you’re going to change the design of your building and incorporate modern technology, building new will give you control over the layout, size, and function. While renovating may be a viable solution, it can be limiting because you can only work within the confines of the existing structure, and you may not achieve the desired results.

In this article, we’ll break down everything you need to know about renovating and building new to help you make an informed decision.

Build New or Renovate Old: Factors to Consider

Several factors come into play when it comes to building new or renovating. They include:

Cost

Whether you choose to build new or renovate, it is important to note that construction projects are costly. Perhaps you should ask yourself first how much you are willing to spend on the project. The truth is, building from scratch is more expensive than renovating unless you are renovating an old building that requires a total makeover. There are a lot of expenses that go into building a new building, from building materials and designing to groundwork, labor finishing, and so much more.

On the other hand, refurbishing or upgrading existing space to incorporate modern features may be an affordable option. However, major renovations may scale up the costs, especially for old buildings. You can never know what to expect when renovating an old building, and some of the materials you thought you could reuse may be dilapidated; thus, you would pay for new purchases. Also, if you are planning to sell your building, relocate, or move to a new space in the future, you will need to consider renovations that add value, resulting in higher costs.

Duration of Construction

There’s a lot of work involved in constructing new buildings, and it may take a longer time to finish than renovations. However, the time taken to renovate depends on the condition of the building.

Some renovations take more time to complete, especially in an old building. Some renovations require you to shift to a different space and may inconvenience your operations if they are prolonged. If you are looking for a construction project that will take a shorter time, renovating will be ideal.

Design

With the many modern, sleek, and luxurious designs available in the market, you will want to invest in a construction project that communicates your style and design. An aesthetically appealing structure will give you the comfort and fulfillment of living in a space you like. If you intend to incorporate modern amenities and features like energy efficiency, you may consider building new. This way, you will have full control of the layout and design you want and have it built the way you visualize.

With a renovation, it may not be easy to bring out a design the way you want it. Also, certain designs won’t match existing structures. For instance, refinishing original woodwork or installing decorative reproductions may ruin the appeal of the original elements. Nevertheless, those old buildings are unique and attractive in their own way. Their intricate architectural details,  original wood and brick accents, and historic charm stand out among many modern designs.

Building New vs. Renovating Old: Pros and Cons

The scope of your project will determine whether you build new or renovate. It is important to note that both construction projects have pros and cons. Besides the factors mentioned above, the pros and cons of each project can help you decide which way you’ll go.

Pros of Building New

• Construction work takes place separately from your daily operations.
• You get the exact design you want.
• New buildings have fewer maintenance costs.

Cons

• It takes longer.
• It is more expensive than renovating.

Pros of Renovating

• It is less expensive and takes a shorter time to complete.
• You can retain the uniqueness and charm of an old building.

Cons

• Old buildings can harbor toxins like lead and asbestos, which are health hazards and require professional remediation, scaling the costs upward.
• The price can be steep, especially if updating the HVAC system or replacing the roofing and foundation.
• Unforeseen surprises can lengthen the renovation timeline.

Bottom Line

Both building new and renovating have advantages, making it difficult to choose between them. While renovating appears to be the cheaper option, it might not be the case for all buildings, and you may end up incurring higher costs you had not budgeted for. Building new, though costly, has cheaper maintenance costs and allows you to design the building exactly the way you want it. 

If you are still unsure about the two, you can seek help from a construction professional. At WJ Construction, we’ve helped clients make this decision for over 55 years and completed their projects with absolute quality assurance, on schedule, and within budget. Contact us today to learn more about renovations or new builds.