By building a property from the ground up with a certain set of needs in mind, you can mitigate those tenant improvement costs and get business owners flocking to your property!įinally, ground up construction gives you the ability to outfit your property with the latest cost-saving, energy-efficient innovations. This is a pre-arranged sum you will need to provide to your tenant (typically for a business location) in order to cover the cost of renovation and of making the property suitable for their needs or the needs of their business. If you’re looking to build a property for a specific purpose, particularly a niche one, this can save you from a myriad of future expenses as well as make your property stand out to those niche buyers (who are likely willing to pay above market average).įor an example of how ground up construction can save you money as a Landlord, look to the potential cost of tenant improvement allowances.
Budget permitting, ground up construction lets you construct a property exactly how you envision it. While you’ll always be restricted to some extent by safety laws, local building standards and other buildings regulations, ground up construction offers dramatically more freedom than renovation.
So why would anyone be interested in it? Ground Up Construction Advantages It’s the whole shebang, and even with the much-needed help of building contractors it’s a lot of work. That means potentially knocking down an existing property, laying all-new foundations, handling the brickwork, erecting scaffolding as well as a million-and-one other jobs, big and small. Whereas one-renovation-involves reworking, redesigning and remodeling an existing property, the other-ground up construction-instead involves creating an all-new property from scratch. Ground Up Construction and Renovation – What’s the Difference? That’s why we’re here to guide you through the ups and downs of both options. It’s a major decision, one that could make or break a property investment. Few choices, however, are as large, as important or as worry-inducing as the choice between ground up construction and renovation.
Some of these choices may appear small and relatively insignificant others will be big and-in all honesty-so significant as to be intimidating. Long-term success in commercial ground up construction depends on a range of important choices, especially for the most profit-driven of commercial construction companies (as all good ones are).
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