When it comes time to seriously consider a commercial remodeling project, the key and communal question is, “can I afford a remodel right now?” If you are asking yourself whether or not you can fit a remodel into your current budget, you are not alone. For this reason, it is helpful for you to become more familiar on all that is required of you financially for your particular business remodeling goals. This will help you develop a rudimentary cost estimation, which will tell you if you can afford to remodel or not.

Continue reading to learn some considerations for achieving accurate cost foreseeability and budget analysis for a desired commercial business remodeling.

Business Remodeling Indianapolis Indiana 317-253-0531

Fitting a Remodel into Your Company’s Budget

Financing

When you are sweating the upfront investment of a commercial office or business remodel, don’t. Many commercial contracting companies are willing to offer flexible financing packages and incentives that help business owners fit a remodel into the budget and ultimately, add value to their property. Whether interior or exterior, commercial construction financing can be the answer to your business remodel or renovation concerns. Take note that some commercial general contractors do not offer financing options. But there are still other types of financing options that may be available to you.

Loans and Refinancing

Banks are eager to help business owners succeed. Many will agree to provide a business equity loan for commercial remodeling purposes, especially if your business already has good credit and credit history. And don’t forget about property owner equity lines of credit, business equity loans, second mortgages, and even commercial contractor loans.

Talk to your banker to learn which, if any, loan options you qualify for, or your options for refinancing your business’s credit agreement. They will be able to examine your financial portfolio and make full-informed recommendations with your best interests in mind. You may even want to consider a separate company for a business equity loan or lines of credit.

Tenant Improvement Allowances

Tenant remodels and leasehold improvements are much different from conventional commercial construction projects since they are intended to be an investment for a business owner. Tenant improvement (TI) allowances are sums of money made available to tenants by the landlord to cover some of the cost of needed remodeling work. Such allowances are usually stated on a per-square-foot basis, and most common for new spaces since more renovations are needed to finish the project. Check with your commercial management company or landlord to see if you have TI benefits.

Seek Out Professional Advice From a Commercial General Contractor

Talk to an experienced commercial construction company in Indiana to determine how to plan and organize your remodeling budget. An Indianapolis commercial general contracting team will be able to help you find affordable alternatives and cost-cutting advice that will get you the upgrade your business needs!

Are you looking for superior commercial remodeling in Indy, but you are not sure where to begin? Contact BAF Corporation at 317-253-0531 for superior commercial general contracting services in Indianapolis, Indiana. We work with clients all throughout the state.