Looking for a new construction ground can be a challenging task. As well as that, finding an untouched land can also be pretty expensive. Although it sometimes pays off, taking the risk or getting everything ready can be a draining challenge to your wallet. It is also deemed tricky since you are often developing an area that is new to the market. While looking for a new construction ground is one of the several ways that many developers choose to go to, there is still a better option to turn to.
Renovating an abandoned property like buildings or houses is one of your best ways to go without spending extra time and money while digging and building your new property. Of course, opting for the abandoned building or house renovation will still cost you money. However, the renovation route maybe your next gateway to success.
What Did You need to Know About Building Renovations?
Renovating a property, especially an abandoned one, surely involves more than merely using a sledgehammer. Luckily, there are several communities that look for new ways of repurposing a vacant property. These abandoned buildings not only cause a massive eyesore, but it also serves as a barrier in some city planning efforts. With that, local governments usually look for ways to utilize these properties by providing incentives to those who purchased the property. Ultimately, it takes on a major expense when the local government purchases a property.
Those that are abandoned, unused, or boarded up properties usually fall under the category of long-term vacant properties. The fate of these buildings or houses was determined by the NVPC or The National Vacant Properties Campaign. Since these abandoned buildings usually drain the attention, time, and money of the government, they are looking for ways to pass the properties to buyers and developers. Fortunately, clients, as well as the architects, benefits from this loss. Doing the right thing in this business could turn the abandoned property into something that is good as new.
New Construction vs. Building Renovation
Now that you have a little insight into property renovations let’s talk about the factors you need to consider as you go along the way. To further give you an insight on which path is to take, below are some of the things you should consider:
- Return of Investment (ROI)
Now, looking at the factors listed above, you can determine whether renovating an old abandoned property is your best chance to succeed. Furthermore, some abandoned buildings may look unpleasant from far away, but having a closer look will let you see their beauty. Additionally, if you strip all the dirt, you can discover the building’s structure. Afterward, you can decide whether this is a property you can work with or if what you had in mind is a much better idea.
How Architects Renovate an Abandoned Building?
Renovation is an entirely different task than building a new one. In remodeling a property, architects usually redesign, rethink, rebuild, and repurpose. Instead of starting with a blank page, designers typically take what is already in front of them and reinvent it in a fresher way. Repurposed properties offer designers and architects new opportunities and a head start towards a new product.
Although the renovation trend seems to catch on, it has been a wonderful part of the industry. In fact, Paris’ City of Fashion and Design was once an area that lacks a discernable character. But looking at it now, it has become notable across the country because of its unique structure. Another example is Singapore’s Space Asia Hub, which was designed by the WHOA. Architects had combined two former homes with all glass cube structures, which gives the gallery a one-of-a-kind design.
These two examples above are not only the existing proof of the potential that abandoned buildings could offer. Also, this shows how architecture can change in different eras with different ideologies. Architects and developers are there to determine how an old vacant building could fit into the current generation. From there, they would collaborate and work hard to bring their modern vision to life.