When it comes to medical office buildings, one of the most important choices you will face is whether to rent and/or renovate an existing building or to build your own from the ground up. There are upsides and drawbacks to each option, and it will be up to you to decide which choice will have the most long term benefits for your practice and your patients. To help you navigate this decision, here is a quick breakdown of the pros and cons of building your own medical office.
Renting
Lower Upfront Costs
Typically renting an existing commercial space and utilizing it as is will be your most cost effective option when setting up your medical office. Renovations to the space will also be less expensive than a new build, and the expense will be ongoing as opposed to a large initial investment.
Limited Space
When you use an existing space as your medical office building, you will have to end up having to suit your practice to the space, not the other way around. You may find that you outgrow your space quickly and need larger areas that you just don’t have, or that the configuration of your office is inefficient and leads to a lot of confusion and wasted time.
Shorter Time to Becoming Operational
Whether you’re moving into your building without changing anything or you’re doing some renovations before you begin seeing patients in your new location, a move will always be less time consuming than a new build. In situations where you need to be operational as soon as you possibly can, building a space provides a major roadblock that you won’t encounter if all you need to do is move in.
Any Changes Will Disrupt Patient Care
You might move into your new medical office building and get to work only to realize down the line that you’re not as happy with it as you thought you would be. Renovations are always a possibility, but updating a space means that you will end up disrupting your usual operations. You may have limited capabilities or have to close down entirely for a period of time, much to the detriment of your patients who will need to have their appointments rescheduled or else receive a lower standard of care as you cope with the renovations.
Building New
Unlimited Customization
If you’re in a position where you really know what you want and need from your space, choosing to go with a new build will be the best choice for you because it will allow you to prioritize these things. When you build from the ground up, you won’t have to settle for anything less than perfect. Click here to learn more about the benefits of customizing your medical office.
Higher Upfront Costs
There’s no denying that a new building is a major expense that not everyone has the budget for. If you simply can’t afford it, this may not be the best option for you, and it would make more sense to rent a commercial space as a temporary location and spend some time working towards the eventual goal of a new build.
Ability to Create an Efficient Space
Having unlimited options for customizability is far from the only perk of creating your own medical office from scratch. There are many new techniques and materials available today that are making office buildings more energy efficient than ever. If your new building is easier to heat, cool, and power, you’ll find that it reduces your operating costs in the long run, something that won’t be in your control when you choose an existing space.
Longer Build Time
A brand new medical office building is not something that will just pop up overnight, and you will need to be in a place where you can manage a serious investment of time to allow for construction to be completed. Luckily, there are plenty of contractors and design-build companies out there who are able to work on a set schedule to get your build completed as fast as possible.
Although there are some drawbacks to the process of building a new office building, the benefits of complete customization and control are hard to ignore. If you are considering your options for a medical office building, contact DESCCO Design and Construction today! We have been the most trusted and experienced design and construction company in the Reading, PA area for over 45 years, and we’re ready to help you get started.