Commercial property renovations are never an easy task. In fact, they take months of planning and budgeting before being executed.
So naturally, you want to avoid overspending now. But if you cut corners now, you might just have to spend more money later in terms of the high repair costs for substandard materials.
Here are five common mistakes to avoid when renovating your commercial property:
Creating a tight budget with no room for emergencies
Determining a realistic budget for your commercial renovation is essential to the success of your project, but it’s easier said than done.
If you budget too tightly and don’t leave a money cushion aside for emergencies, the project costs can increase and break your budget.
Ideally, you should leave an allowance of ten percent in the total budget for contingencies to deal with unforeseen circumstances.
Choosing the wrong design for the commercial space
Your renovation project should be designed while keeping your tenants in mind. It should incorporate features that are functional and will benefit them.
If you pick the office design depending on your personal preference and not what your tenant might like, you won’t be able to make the most out of your investment.
You need to conduct extensive research to understand industry trends. Learn what your potential tenant might look in the property and plan accordingly.
Selecting the incorrect building materials
When choosing the building material for renovation, you must strike a fine balance between appearance and functionality to yield the best results.
For instance, when deciding flooring material for areas with high foot traffic, you should pick epoxy flooring over wooden floorboards to ensure easy maintenance.
Remember, expensive material doesn’t always mean better quality. Explore different options with your contractor to ensure you get maximum value for your money.
Cutting corners to save money
While expensive material doesn’t translate to better-quality, you should never resort to cheap, inferior-quality materials to cut corners.
If you don’t have plenty of room in your budget, try to work your way around by making changes in the plan and looking for alternatives.
Remember, cutting unnecessary costs isn’t a bad idea, but it shouldn’t come at the expense of compromising on the quality of material or the finish.
Hiring a wrong renovation company
The only thing worse than hiring no contractor for your commercial renovation project is choosing the wrong renovation company to carry out the project.
More likely than not, working with amateur and inexperienced contractors can drown your costly investment; hence you should always work with professionals.
An ideal commercial renovation contractor will have years of industry experience and will also offer construction and remodeling services.
A commercial renovation project requires a team of architects, craftsmen, designers, and other professionals who work together to ensure high-quality results.
Working with professionals means fewer chances of unexpected delays and mistakes, which will guarantee the timely completion of your renovation project.
If you want to avoid making these mistakes when renovating your commercial property, join hands with D.W.Inc. today! Based in Ottawa, we’re a leading general contractor and construction company that provides premium, commercial renovation services.
Our skilled and highly-talented team of professionals will offer great ideas to modernize and redefine your commercial space. Call us at + 1 (613) 276-4447 today for more details about our services.