For years, contractors felt that new construction was going to be the driving force behind the industry. While it is still a major part of the business, what’s truly become the driving force in the industry is remodeling, rebuilding and reinvesting into existing property.
America is in a rebuilding phase as new technology and innovative materials have allowed for construction projects to be completed faster than ever. Add to that the fact that investors are looking to reinvest in their own properties for long-term potential, and you can see why this is a booming part of the industry. So how does this impact you as a contractor? It starts with making sure that you have a team in place that can handle these types of challenges.
Building a new home or office structure on new land is one thing. Remodeling a 50 year old building to make sure that it’s safe and can last another 50 years is something completely different. Builders want to start new but property owners and managers see a longer project time and higher costs. They want remodeling because it leads to faster results and is more cost-effective. Think of an office building that currently has no tenants. To tear it down and rebuild will take eight months and cost the owner a million dollars. Remodeling the existing structure would take five months and cost $700,000. Which would you prefer if it was your decision?
Not only would the office building be done faster and for less money if you remodel, but you will also be able to bring on new tenants in a shorter period of time. It’s this kind of thinking which has motivated people to reinvest into their property. However, it also makes things a bit more challenging to you, the builder. As you look for subcontractors who specialize in the services you will need assistance with, you have to look for experience with remodeling projects as it comes with different needs.
The same thing can be said when it comes to crane rental. You need to find a company that specializes in rebuilding projects, working in tight quarters and knows how to complete a task safely and quickly. They need to compliment your work, not slow it down, cause delays or other problems that put you behind schedule. The more time you take in finding the right crane rental company, the happier you will be with your decision and can rely on them for years to come.
