Creating A Commercial Renovation Budget
Are you thinking of renovating your commercial space? Maybe it’s time for a move and you need to build out a new space to suit your needs. Regardless of the reason, tackling a renovation can be intimidating. Dunlap has some guidelines that should help you get started, by creating your commercial renovation budget.
Costs for renovation can vary widely, depending on the scope of the work. There are several areas that you’ll want to consider in your commercial renovation budget for most projects:
- Design – If you hire a designer or architect, expect this to be around 20% of your budget. This cost will be worth it, if you’re making large changes and really want to maximize your space.
- Electrical – If you need rewiring, you’re looking at around $6-$8/square foot. For new interior lighting, around $3.30/square foot.
- Plumbing – Adding a bathroom? It will cost on average between $3,000-$6,000 depending on finishes. This wouldn’t include additional services to hire a structural engineer if you are far from a sewer line or want to move an existing bathroom.
- Flooring/Ceiling – The average cost of flooring is $2.76/square foot.
- HVAC – Fixing, replacing, or installing an HVAC system averages $2.61/square foot.
- Millwork – Definitely on the pricier end, but if you need built ins or display fixtures then you will need to account for any custom carpentry.
- Paint – Depending on the size of your space, purchasing paint can add up. Generally, flat finishes are cheaper than gloss. Darker colors will require more coats, which can end up costing significantly more.
Getting A Quote
Once you have an idea of your commercial renovation budget, it’s time to get quotes. Look for experienced contractors, like Dunlap, who can give the most accurate estimates. We can sit down together and look at your budget, ensuring all of your needs for the space are met. Because of our wide network of vendors and suppliers, we have the best access to materials in WNC. Your commercial renovation will be game changer for your business, so let us help you take that step. Feel free to contact us directly with any questions or to get a quote.
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