Renovating is all about breathing new life into your space and it might just be the thing your commercial property needs to increase its market value. It can improve a building’s safety, efficiency and comfort, alongside its aesthetic appeal, which goes a long way to increasing the building’s resale value and longevity.
Renovation can be a daunting task, however. There are so many things to consider, from your initial budget and timeline to the construction and sustainability potential. With the right planning and forethought, you can ensure that your remodelling plan not only goes smoothly but that the result will be worthwhile.
Consider the purpose
Understanding what building you’re renovating and why will help you establish a schedule, materials you’ll need and what a new design could do to improve your space. Your motive can involve everything from enhancing your curb appeal to making significant structural changes to make your building more accessible.
Sustainability and energy efficiency are other great reasons behind commercial touch-ups. In fact, implementing these changes has the potential to reduce small and medium-sized enterprises energy bills by 18 to 25 per cent.
Scheduling
Before you get going on your renovation, spending some time organising and finalising a realistic and clear schedule will help out your contractor. This should outline everything from material and resource delivery to construction and erection deadlines.
The best place to start with your schedule is to look at your project as a whole and have a clear order of jobs you want tackled per room. Despite your best efforts, you may encounter some disruption so you should continually review and adjust your schedule as your remodelling moves forward.
Sustainability
Reducing your building’s carbon footprint has become a focus of many professionals and has caused renovation to evolve over the past years. Reducing waste, using eco-friendly materials and exploring more developmental modes of construction can boost energy-efficiency, durability and comfort.
Green designs not only lower your operating costs but can also increase the resale price of your property by as much as 14 per cent. You can also ensure your project is sustainable by using sealant removers like these to remove old fixtures so that they can be recycled for other projects.
Choosing a contractor
Doing your research to find and hire qualified contractors can help guarantee that all renovation work is carried out correctly. They should be fully licensed and qualified, which will protect them in case something goes wrong during the renovation process.
Despite the best planning, accidents do still happen but qualified contractors will have insurance in place to cover the cost of any damages.
Budgeting
Once you’ve hired your contractor, you can consult with them in regard to budgeting and expenses. A commercial space of roughly 50,000 square feet typically costs around £4,500,000 to renovate but other factors such as scope and specification mean it could cost a lot more.
Mapping out what you’ll be spending when will help guide you on what costs you should prioritise and identify areas where you’re at risk of running over.
