When you want the best possible value for your dollar, it pays to be on the lookout for ways to control or even reduce commercial construction costs. Instead of jeopardizing the quality of the project, we have put together a list of items to help you reduce cost for your next commercial construction project.
1. Timing
Everything has a season, including construction. Commercial construction costs rise in the summer for several reasons. Many retail companies schedule projects during this period so that they’ll be up and running in time for the holiday shopping season. With this increased demand, it’s only natural that the price rises. How can summer’s premium price help you save money? It’s a matter of timing. If possible, schedule your project in the off-season to enjoy lower costs. If your project can be built during the fall or spring, there is a good chance you will save a little money. (Let’s hope we have a mild winter)
2. Planning
Just like it’s wise to measure twice before making a cut, it’s smart to do a thorough job of planning your construction project. Once building begins, changes quickly become costly. It’s far easier and much less expensive to identify and correct potential problems in the design stage.
Make sure to consult with a pre-design team to identify all aspects of the project. Inaccurate estimates can leave you unprepared for the real cost of construction. While the initial cost of working with an experienced architect may be higher, doing so is actually likely to save you money in the end by providing you with a realistic idea of what to expect and allowing you to thwart troubles in the planning stages.
Similarly, working with a design build commercial contractor offers the same advantages because one firm handles the project from beginning to end, minimizing changes for missed cues, scheduling snafus and miscommunications.
3. Possibilities
Having a plan in place doesn’t mean that you can’t keep your options open somewhat. When collecting bids for your project, price both the essentials and a few options. Many general contractors will provide alternate bids that break down the commercial construction costs of what you need. Additionally, they can offer information regarding the costs of options and upgrades that you might like, but may not require. While you might not need these things, requesting a price for them upfront often allows you to lock in the most competitive price.
4. Communication
Failing to maintain an open line of communication is a mistake that can carry a very high price tag. Be sure that you’re clear about your specifications and expectations, and be certain that you understand both what your contractor tells you and any potential ramifications of that information. Staying in touch with your contractor and knowing what’s happening with your project makes it easier to keep small issues from developing into major problems.
5. Reuse
A great way to save money on commercial construction costs (especially renovations) is to reuse materials when possible. While shiny and new is attractive, it isn’t always necessary. If your project involves rehabbing or retrofitting an existing space, consider reusing materials and systems. It may make sense to upgrade if the existing material no longer meets your needs or a newer system offers substantially higher efficiency, but if the original material still works, reusing it can reduce construction cost significantly.
6. Sourcing
Sourcing is a big chunk of commercial construction costs for a project. Like planning, sourcing is an area where saving pennies can cost you dollars. When ordering materials, furnishings and equipment, it’s generally best to select a domestic supplier. Although you may be able to find items for less in another country, the risk of lengthy waits, high shipping costs and potential delays generally outweighs any savings.
CBF Contracting, Inc. has been offering top-notch design-build services as well as construction management services since 1978. We’re proud of the strong relationships and reliable connections we’ve forged with our clients, suppliers, employees and subcontractors. Contact us today to explore our general contractor services or request a quote for your commercial construction project.
