Most business people want the best possible return on their investment, so it’s no real surprise that commercial renovation costs are a concern in virtually every project. How can you save money during commercial renovation? Here are five tips to help.
1. Choose the Right Commercial Contractor
Working with the wrong commercial renovation contractor is a nightmare populated with problems like missed opportunities, delays, poor work and even legal troubles. On the other hand, a reputable contractor will work with you to ensure that your project progresses smoothly. Most reputable general contractors will use their knowledge and experience to point out opportunities for savings.
2. Have a Budget
While the mere thought of a budget often makes people wince, budgets are invaluable tools for controlling spending. Knowing how much you intend to spend and where those funds will be allocated helps ensure that your priorities are addressed appropriately. Understanding the difference between fixed price and cost plus proposals is also helpful.
3. Make a Plan and Stick to It
One of the easiest ways to save money during commercial renovation is to make a plan and stick to it. Before any actual work begins, you’ll want to have a detailed plan in place that defines your goals and covers all the details, including costing, timelines, resources and deliverables. Make sure your commercial renovation contractor provides a plan as detailed as possible. Once your plan is finalized, try to avoid deviating from it. While the unexpected does happen, making last-minute changes will likely add to the cost of your renovation.
4. Embrace Reuse
New is always better than used, right? That’s not necessarily true when it comes to commercial building renovation. There are often building features that are in good shape, and reusing them can help keep your renovation costs down. Ask yourself if you can reuse the existing:
- HVAC system. Unless it’s in poor condition or incredibly inefficient, you may be able to work with the existing mechanicals, ductwork and vents.
- Flooring. Concrete, hardwood and tile can often be revitalized with staining, refinishing and other techniques. Even if they are completely unsuitable in their current location, you might be able to repurpose them in another area.
- Window openings. While updating old windows can be a good way to improve energy efficiency, changing the size or shape of window openings can be expensive.
- Bathroom plumbing. Since plumbing is run inside walls, changing it can be costly. If you want to keep costs low, consider keeping the bathrooms in the same locations so that you don’t have to pay to redo the plumbing.
- Furnishings. When it comes to office renovation cost, remember that money saved in one area can be used in another. If you have cabinets, desks, chairs and other furnishings that can be reused, consider doing so.
5. Choose to Recycle
While this is not a traditional method to save money on commercial renovation costs, it will still provide a positive outcome. If materials are in good shape, but you simply have no use for them, consider donating them to an organization that recycles or repurposes construction materials. It’s good for the environment and a possible tax deduction for your company.
If you are planning a new commercial or industrial renovation project in eastern Ohio, western Pennsylvania or western New York, rely on CBF Contracting. With more than 30 years of commercial construction experience, we understand how to manage cost, time and quality to get the best possible result for your project. Contact us today at 814-745-3000 to request a quote for your next commercial building renovation.