Building a new commercial facility is serious business. There is a lot to consider. You’ll need to select the right location, the right design and the right commercial contractor to build it. While it’s not nearly as much fun as dreaming about the possibilities, you’ll also want to understand needs vs. wants as you prepare commercial building costs. If you’re like most people, you’ll be especially interested in how to control building construction costs. Here are a few tips to help you understand needs vs. wants when it comes to new commercial construction. It’s okay to list both, but also to understand the difference.
Identify Both Your Needs and Your Wants
People embarking on construction projects are often told to separate their needs from their wants. Too often, the implied advice is that wants are unnecessary and should be immediately stricken from the list to keep the project’s price tag low. Want may be a four-letter word, but it is not a bad one. We recommend you make two lists. One should include the things you need. The other should list options that you find appealing. Then, discuss both lists with your construction team. You may find that some of your wants are more affordable than you realized or that they offer a better value than the initial selections on your needs list. Providing both the wants and needs will also help your construction team develop a clearer picture of your priorities and preferences; thereby; allowing them to make better suggestions. As construction professionals, they likely have experience with a broad range of options, and they may be able to offer an alternative that you haven’t considered that is a perfect fit for your project.
Search for Savings
Keep costs low by pinpointing savings. Go through your project to identify places where costs can be reduced. Saving money in one area may allow you to splurge or provide a financial cushion. Enlist your commercial contractor in your efforts. Involving an experienced commercial contractor in your project early on or opting for a design-build commercial construction company can prevent expensive hiccups during the building process. Working with a design-build firm will also encourage efficiency in design and construction that will ultimately save you time and money.
Weigh Price and Value
While working to keep your construction costs in check, remember that price is not synonymous with value. Sometimes, the low-priced option turns out to be an expensive mistake. For example, a cheaper material may cost more in the long run because it requires more maintenance or needs replacement sooner. Don’t discount the significance of using quality materials for your project. While these factors can add to the initial price tag, choosing materials and professionals who can deliver them is often a smart investment. Instead, discuss these options with your commercial contractor. They will have experience with all types of new commercial construction materials and which ones will still provide value while helping you save money.
Additional Reading:
- Top 8 Tips on Getting the Best Commercial Building Cost Estimate
- Fixed Price vs. Cost-Plus Proposals for Commercial Construction Cost
- Ways to Control or Reduce Commercial Construction Costs
An experienced commercial contractor has the knowledge, skills and connections to help you get the most value for your dollar. CBF Contracting Inc. is a top-notch Pennsylvania construction company serving all of PA, Ohio and Western New York. We have been providing quality general contractor services for industrial and commercial projects for nearly four decades. Whether you’re in need of construction management services, general contractor services or design-build services, you can count on us. Contact CBF Contracting Inc. today at 814-745-3000 to discuss your next new commercial construction project and request a quote.
