In our last blog, we began speaking about some considerations to make when trying to decide whether you want to renovate your current laboratory or start a completely new build. Here at LCS Constructors, a trusted construction management company, we’ve seen several cases where the client initially thinks that it’s going to be less expensive to simply renovate only to find out quickly that a new build may be the better economical choice. Today we’re going to take a look at a few more reasons why a renovation may not be your best option.
- Think about your current HVAC system. By the time most building owners are considering renovations, their HVAC system is well beyond it’s last leg. This means that during your renovation – especially if you’ll be adding a lot of new technology to your building – you’ll be replacing chillers, boilers, air-handling units, and several other HVAC components that will end up accounting for up to 40% of the costs of renovation.
- Consider how your renovations will cause disruptions within the company and with employees. Most renovations can add up to 5% to the project’s general conditions and contingencies when trying to minimize disruptions. Is it worth disrupting functions, paying to temporarily relocate employees or entire departments?
- Make sure you know all the hidden costs that come with renovations. These are the costs that aren’t obvious without tearing out ceilings or walls. You may find that there are major leaks in plumbing that weren’t apparent before, ultimately needing to replace the entire system during the renovation process.