| Title |
A Study on the Estimation of Optimum Remodeling Period for Apartment Buildings using Total Cost |
| Authors |
Son, Chang-Baek ; Oh, Chi-Don |
| Keywords |
LCC Technique ; Total Cost ; Remodeling ; Apartment Buildings ; Sensitivity Analysis |
| Abstract |
Although the life-spans of most apartment buildings are over fifty years, they are often demolished and retrofitted only after twenty years, in spite of its remaining life expectancy, resulting in economical waste. The purpose of this paper is to estimate optimum remodeling period of apartment buildings using total cost. In this study it is seen that total sum of running cost of lifespan on the buildings is about 4.69 times of initial cost till the fifty years of the life expectancy. The optimum remodeling period of the apartment building is thirty years applying the discount rate of 4.17% and the discount rate should be 6.122% to obtain the forty years of the optimum remodeling period. From the sensitivity analysis based on the change of the discount rates, it is seen that if discount rate decreases the optimum remodeling period can be extended, or vice versa. As a result, a time of the demolished and remodeling can be expected and the basic data can also be established for lengthening life-span of the apartment buildings. |