Seismic Retrofitting: Why NOW Is the Best Time

Written by Saunders Seismic on 15th November 2024

Many property owners know seismic retrofitting offers essential benefits, but fewer understand why timing matters so much. Waiting to retrofit increases risks and can mean missed opportunities to improve property value and safety.

While earthquakes aren’t common everywhere, nearly 75 percent of the U.S. could experience damaging earthquake shaking, according to a recent U.S. Geological Survey study.

U.S. Disasters by Region

An earthquake retrofit strengthens your building’s structure, boosting its ability to withstand earthquakes and other types of natural disasters. This added resilience is especially valuable for properties built before 1996, when building codes were less strict.

Taking action now can save money, reduce liability, and protect your property’s long-term value.

Why Timing Matters

Taking action early is critical. Addressing vulnerabilities before they worsen or trigger mandatory retrofits can save both time and money. Rising construction costs, potential legal liabilities, and changing market demands all favor early earthquake retrofitting.

While delaying retrofitting may seem cost-effective in the short term, early action brings financial and safety advantages that make it worth the upfront investment.

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Every year you wait to retrofit, costs rise, risks increase, and potential liabilities grow.
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Cost Efficiency

Retrofitting now locks in current construction costs. As inflation, labor shortages, and rising material costs push prices higher, delaying can mean paying a premium later.

Early seismic retrofitting also helps prevent minor structural vulnerabilities from worsening, which could lead to more extensive and costly repairs later on.

If retrofitting is on your radar, acting now can help you avoid future price increases and reduce the risk of extensive damage and repairs.

Regulatory and Insurance Incentives

More regions are adopting stricter building codes for seismic resilience, and the trend is expected to continue. Retrofitting early helps you stay ahead of evolving regulations and avoids the hassle of a rushed or mandated retrofit later.

Many insurers offer premium reductions for retrofitted buildings, providing ongoing savings. Waiting until retrofitting is required—or mandated by insurers—can mean missed opportunities to reduce insurance costs.

Market Positioning and Tenant Confidence

Retrofitting now enhances your property’s marketability. Buyers, tenants, and investors prioritize safety and resilience, and a retrofitted building stands out as a secure investment, appealing to tenants who value continuity and safety.

Proactive retrofitting also prepares your property for future growth, offering peace of mind for tenants and buyers.

Avoiding Legal Liabilities

Delaying retrofitting creates legal and financial risks. In one widely reported case, a building owner was found liable after two employees died in a building ordered to be retrofitted but left unaddressed, resulting in severe penalties.

This tragic example highlights the costly risks of deferring seismic upgrades. Beyond potential legal consequences, the market value of your property is also at stake.

Future-Proofing Your Property

Seismic retrofitting is an investment in your building’s resilience. By reinforcing its structure now, you safeguard against both anticipated and unforeseen events, including increasing seismic activity and climate-related risks.

This proactive approach enhances the building’s durability. It reduces the likelihood of sudden, costly repairs or extensive downtime following a major event, ultimately helping the property maintain its value over time.

The Bottom Line: Strengthen Your Building Today

Seismic retrofitting isn’t just a safety upgrade; it’s a forward-thinking decision that saves costs in the long run and enhances your building’s appeal in a competitive market. Acting now prevents the added risks and expenses that come with delayed upgrades.

Saunders Seismic specializes in delivering high-quality retrofits for commercial and industrial properties. With over forty years of expertise, our team offers dependable solutions to secure your building’s resilience and value.