Choosing Commercial Renovations: Should You Choose Inside Or Outside?
Commercial renovations are even more expensive than residential renovations. The total square footage of a property and choosing to renovate the inside or outside of a building makes all the difference. If you own a commercial property and are not sure where to start, here are the pros and cons of selecting the inside or the outside of the building.
Renovation the Outside of Your Building
Structurally speaking, if the outside of your building is crumbling, you will want to start there. Renovating the interior does not help your situation if every part you fix causes more of the exterior to fall away. Solidifying and reinforcing the exterior helps the interior hold up until a complete interior renovation is financially viable. Other reasons why you might choose to renovate the exterior of your building first include:
- an increase in property value
- it looks more attractive to viewers from the outside
- you can reshape the building into anything you want
If you can afford some of the interior renovations at the same time you pay for exterior renovations, structural issues are the first things your contractor will address.
Interior renovations are about two things: beautification and structural support. If you own a commercial property that you use as a hotel, obviously you have to renovate the interior or your guests will not want to stay with you ever again. Wallpaper, paint, plaster, furniture, ceiling fixtures and bath fixtures for every room are par for the course when you renovate the interior of any commercial building where services to the public are offered.
Structural renovations are just as important, because water damage, broken windows and leaky plumbing keep you from conducting business as usual. Canadian and American laws forbid the use of commercial property that is not up to code. Depending on how much damage you have and where in your building it is located, you might have to have your contractor address the structural issues before you can begin the aesthetic renovations.
Choosing to Do All Renovations All at Once
If you can get the funding or have a fair amount of money, then you can hire a contractor to do all of your interior and exterior renovations all at once. Using your commercial building to garner profit, e.g., as a hotel, may be enough for lenders to give you the funds you need to do a complete overhaul on your property. A limited number of contractors also provide payment plans and financing so that you will hire them to do the work, which may be very beneficial to you and save you some money on interest rates as well.
For more information, contact a local renovation company, like City Centre Interior Contractors Ltd.