Should You Renovate or Build Out a Commercial Space in Orlando?

When it comes to commercial space in Orlando, deciding between renovating an existing space and building out a new one can be a tricky decision. Both options have their own unique benefits and drawbacks, and careful thought should be put into whichever option is chosen in order to ensure the best outcome.

Commercial Renovations

Renovating an existing commercial space in Orlando can come with many advantages. It is typically a less costly option than building out a new space since much of the existing mechanicals may already be in place. Furthermore, renovations can allow businesses to create custom layouts and updates to increase energy efficiency or overall aesthetic that can open up opportunities for new kinds of growth. Updates can also be faster since much of the groundwork already exists.

The drawbacks of renovating an existing space are that it is often more challenging to renovate an existing space to match the needs of a given business without sacrificing some of your business needs. Existing buildings may also be subject to building codes or zoning regulations that may restrict how certain renovations can be completed or limit some of the updates that can be made. Furthermore, old buildings may not have the energy efficiency of a newly built building, meaning that energy costs may be higher in the long run.

Commercial Build Outs in Orlando

Building out a commercial space in Orlando typically has a steep cost upfront, but can come with several advantages. When building out a commercial space, businesses have complete control over creating the perfect design to fit their needs and overall goals. Not only that, but a new build out can often offer advantages such as improved energy efficiency, which can translate to lower long-term costs. Lastly, when building out a new space code and zoning regulations do not often present as much of an issue, allowing for ample options for the space.

The drawbacks of building out a commercial space include prolonged timelines for completion and the possibility for unforeseen costs or issues to arise. Building out a new space can also be a riskier financial venture up front since there will be a larger out of pocket cost due to the amount of construction needed. 

In the end, deciding between renovating an existing space or building out a new commercial space in Orlando needs to be a thoughtful decision. Careful consideration of the costs, timeline, and associated risks of both options will help ensure that the decision is the right one for the business. As an established Construction Company in Orlando, we can review your project and potential site selections and provide a detailed overview of your options. We serve all of Central Florida and look forward to hearing from you. – Benchmark Building Group