In Dallas, multifamily renovation is another minor but very crucial section of the construction process. Multifamily properties are continuously being renovated in order to maintain the quality and the desirability of a given property. These renovations may include front improvements and other works such as new bathroom plumbing and fixtures or kitchen cabinets. These maintenance renovations are usually rather small in size. Just

Repainting or recarpeting in most instances is not adverse enough to be regarded as a renovation.
The renovations can also be part of an investment plan. Value-added investing involves purchasing a poorly performing multifamily asset at a discounted price, upgrading it substantially and subsequent raising of the rents.

Value-add investing is usually more substantial than renovations already named above, and it may comprise something such as redesigning a kitchen or a bathroom fully or restructuring a unit to obtain an open floor design.
Generally speaking, most of the data vendors do not record the reason why a renovation project was commissioned. The renovation normally does not take too much and the information is normally gathered by sources that might not have such explicit data.
The broad spectrum of the dollar amounts of construction in the area of renovations however should give into the scope of the kind of refurbishment that was done.

Most multifamily remodels cost less than a million dollars to construct, and the left-hand side chart below demonstrates this fact. Before the onset of the Great Recession that commenced in December 2007, the share of renovations amounting to less than one million dollars was an average of about 38 per cent of all those renovation activities. Since such projects are relatively cheap, they might entail some maintenance rehabilitation to make the property look good and attractive.

New construction residential houses are very expensive because of rising expenses on building materials and shortage of skilled construction personnel in recent times. It has also seen the increase in the number of companies collaborating with the Medical Renovation Dallas.

The conventional average time of construction of a new multifamily property is 18-36 months, sometimes even more. Contrarily, much of remodeling works would sometimes use fewer supplies and less amount of personnel and time could be used to complete the task (less than a year). 
Consequently, they are generally considered to be less risky to lenders and car and property owners. In comparison with new development the volume of renovation projects is however much more regular over the years. 
Indeed, the proportion of multifamily developmental projects that have received renovations since 2015 has remained at an average of about 25%, as against the 15 percent proportion that was pre-Great Recession. In recent years, the tenants have been able to access new flats at a regular basis.