Comparison: Ground-Up Construction vs. Renovation

Weighing the pros and cons of new construction versus home renovation in Las Vegas does not have to be as overwhelming as it sounds. Like any major project, it all starts with a plan. To get started, focus on three major factors: time, cost and scope. Then, consider living arrangements during cinstruction. Finally, identify the expertise needed to pull it all together.

Schedule and budget

The decision to build from the ground up or renovate is a personal one primarily based on budget and time constraints. New construction allows for more customization and flexibility, usually accompanied by a higher price tag and a longer window to completion. Home renovation Las Vegas may be more cost effective and timely since the framework is in place. Of course, there may be unforeseen circumstances; unanticipated repairs or the need to bring existing electrical and plumbing up to code. As scope changes, modification of time and cost follows. Factor in the cost for permits as well. Advance evaluation of budget, timeline, and priority should facilitate the decision-making process.

Insurance and inhabitability

It is a good idea to research any changes that may be needed on your insurance policy. Vacant property insurance is typically rated differently than occupied insurance. It is best to discuss with your carrier the impact on your current policy, any accompanying premium rate changes and the insurer’s expectation of the property being inhabited during renovation. If there are any pets in the home, be sure that planned temporary living arrangements will accommodate them. Some temporary accommodations do not permit pets or require additional security deposits.

Consult with the experts

The most important step is choosing a licensed, reputable and experienced contractor who can make an assessment and share insights into all of the above. Hire a professional construction team with a rigorous project plan who will monitor progress and keep milestones on track. Whether the decision to build or remodel arises from choice or circumstance, this can be an exciting adventure. Having a home renovation Las Vegas contractor who serves as your navigator and advocate will make all the difference.