The bachelor thesis deals with the technical and economic evaluation of two modernization variants for a scout clubhouse in Brno. The objective is to compile itemized budgets and comprehensively compare Variant A (reconstruction preserving load-bearing structures) and Variant B (demolition and new construction). For both layout-equivalent studies, designed by an invited expert, budgets were created in the BUILDpower S software, followed by a multi-criteria analysis. This analysis assessed construction costs, building physics risks, expected service life, and legislative complexity in a heritage zone. Although the new construction eliminates risks associated with internal insulation, it requires a significantly higher initial investment. Reconstruction was recommended as the optimal variant, as its technological limits are compensated by a saving exceeding one million CZK and a simpler permitting process. The thesis thus provides an exact basis for the final investment decision.