January 4, 2009

How much to convert a shoplot into a farm?

There are many form of shop renovations, but there a few that are popularly adopted as below:

1. Double storey shop converting to a full double storey farm;

2. Double storey shop converting to a single upper floor farm;

3. Three storey shop converting to a double storey farm;

4. Three storey shop converting to a single uppper floor farm.

What are the factors affecting the cost of renovation is a general questions asked and required to know before a person is being "con" by a consultant. Just listing down a few:

1. Is there a concrete slap constructed on the uppper floor? This construction can be as costly as $10k to $20k depending on how knowledgeable you are.
2. Wood plank, in general it is in the region of RM2.8k per tonne. And you need a tonne to construct a single floor.
3. Sound system, ranges from $3k to $5k dependent on how sophisticated is your tweeter layout.
4. Heat insulation, in general you need additional walls to insulate the heat from penetrating your farm. The cost is dependent on the material you choose and how extensive is the coverage.

As a newbie, you may be only interested to know what is the rough budget. This is my personal experience. A single upper floor renovation with everything included may cost you around $25/sq ft. Hence, for a 20'x70' farm, it cost around $35k. And if you need to renovate the lower floor immediate under this floor, then, you may need to add in another $10k. Hence, for a two storey farm, $45k-$50k is a reasonable price in my area. Well, this amount may varies depending on one area to the other, but I think it is a good and general guideline. In fact, I heard someone asking for $50k to $70k for a two floors renovation, personally, I would think these are at the high side of the pricing. Feel free to comment if you disagree. I have a friend of mine renovated a single floor(on a double storey shop) without concrete slap, he was charged with $28k, this is slaughtering!!
As the economy is going down, the grow of new farms has declined a little as far as I can see recently. Hence, if you are determined to build a new farm, try to ask for 5-10% discount from the above mentioned rate, it may works....If you could do so, remember to buy me lunch/dinner lah! :-)

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