Modernizing Your Dated Building

Modernizing Your Dated Building IMG

Modernizing Your Dated Building

When you’re ready to give your property a facelift, modernization might be at the top of your priority list. But, how exactly do you modernize a dated building?

In this guide, we’re breaking down three crucial steps that will help guide renovation projects with modernity in mind.

Step #1: Create a Priorities List

What’s the goal of your modernization project? You can modernize a building in a number of ways:

  • Aesthetic modernization can include updates to finishes, hardware, and non-structural layout.

  • Functional modernization may seek to improve building systems to improve efficiency, increase sustainability, or reduce life cycle costs.

  • Structural modernization could entail longevity improvements and hardening efforts like exterior cladding updates, wood rot removal, or foundation repair.

Your priorities list might include items in just one of these categories or all three—but, establishing and prioritizing goals will help you plan and budget for the project.

Step #2: Establish a Budget

Establishing a budget is part and parcel of any building modernization project. You can build a budget for your project in one of two ways:

  1. Start with an out-the-door cost you can afford, working backward to determine which goals you can meet with your available funds.

  2. Price the items on your goals list, tabling any tasks that are too expensive to complete right now.

Once you have an idea of how much you’d like to spend, make a plan for how you’ll use your budget. The average construction project meets the following budget parameters:

  • Infrastructure and lot costs: 20-25%

  • Building materials: 25-30%

  • Onsite labor: 20-25%

  • Overhead costs: 6%

  • Financing costs (if applicable): 2%

Remember to allocate a portion of your budget to contingencies and incidental costs.

Step #3: Choose the Right Team

Once you’ve established a vision and a budget for your project, it’s time to recruit the right people to help make it happen. Consider the following tips for finding the perfect construction team for the job:

  • Seek at least three proposals

  • Interview potential project managers and inquire about:
    • Their experience level with modernization projects specifically

    • Potential challenges they predict during the job

    • Their ideas for possible improvements to the plans

  • Inquire with proposers’ references and seek feedback from past clients

The right general contractor should be able to:

  • Put you at ease during the interview process

  • Provide justifications for pricing and subcontractor choices

  • Communicate effectively and professionally

Contractors expect you to put them through their paces—ask as many questions as you need to during the interview, estimating, and contract negotiation processes to ensure that your project will come to a successful conclusion.

MFS Construction: People-First Building for the Modern Age

Modernizing a dated building is no small task—but, building a vision, devising a budget, and finding the right construction partner are all crucial parts of the process.

When you need a general contractor who will work in your best interest, suggest improvements to your project, and stay on schedule and within budget, look no further than MFS Construction.

We prioritize clear and open communication, transparency, and quality. Everyone on our team embodies these values—they guide all of our projects to successful, satisfying completion.

Contact us to bring your vision to life.