No matter how old the building or structure is, rebuilding one with rigorous damage involves costs. These costs that are related to reconstruction or redevelopment are not the part of the original construction.
Well there are major differences between new construction projects and Reconstruction projects like the cost, material, process, permissions, etc. These differences are majorly for the builder or contractor. Let’s have a look at it in detail.
There are many factors that affect the cost of construction like :-
Material – To build new homes, usually all the material purchase is made in bulk and therefore there are great savings as compared to reconstruction projects. Material bought for reconstruction projects are usually home specific and therefore turn out to be more expensive. For new constructions job start, there are usually no major hindrances or nuisance and load that delay the construction process.
Debris – For any reconstruction work begins, the damaged structure needs to be knocked down. Once the demolition process starts, the debris gathered needs to be got rid of time and again. The cost involved to remove this debris has considerably increased over last few years. For reconstruction projects, contractors have to work around similar hindrances too that’s adds to overall time and expense of the project.
Home owners involvement – There is considerable home owner’s involvement for reconstruction projects. This is quite obvious since modern home owner wants their homes to be rebuilt the way as proposed and this is possible with regular interaction with the contractor. But this in turn adds to time and expense to the reconstruction project since the contractor’s work is interrupted with undue inquiries and discussions at times.
Time – for new construction project, profit n work is quite predictable due to repetation involved. Also these project are worked on within given timeline with fixed work schedule and job work.
Whereas the reconstruction contractors got to work in much restrictive timeline. This is due to any unplanned events that usually cine up and also coz contractors are working in shorter notice period and strict schedules as a result the final cost of reconstruction projects increases.
Finally all these reconstruction costs need to be included in the insurance value to ensure adequate coverage to completely rebuild homes.
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For reconstruction buildings and societies you have existing members as well as new one’s purchasing the flats. Whereas for new constructions projects, all new members are purchasing the flats.
Newly constructed homes are built with the present building codes while old homes or reconstruction projects usually need to be brought up to code.