5 Ways to Reduce Commercial Construction Cost
When it comes to commercial building construction, staying within the budget is a critical matter as several factors can easily drive up the cost. This can delay the construction process as well as impact your business negatively. There are several ways you can reduce the construction cost and stay within budget.
If you are considering building a commercial project, continue reading to find out helpful tips that can control the cost of your commercial project while making sure it is completed within schedule.
How to Cut Your Commercial Construction Cost
1. Minimize Change Orders
Few things impact commercial construction cost as do change orders, especially if they are frequent. To prevent this, make sure you understand the requirements of the commercial project you are undertaking and what you want out of it. You should have a clear vision right from the beginning, including during the design phase. Once the final design has been chosen, refrain from making additional changes that will increase the overall cost and delay the project. Remember, any changes you want made to your project after construction commences can significantly raise the cost of the project.
2. Time The Commercial Construction Right
When it comes to building your commercial project, timing is of the essence. In Canada, harsh weather, extreme cold, or the rainy season can increase the cost of construction, and cause delays in the completion of the project. If you have the plans drawn out and the specifications ready early, then you can get competitive rates from contractors before the high demand season swings in. Starting the construction of your project during autumn may also reduce your construction cost, as some contractors may rely on those projects for cashflow during the winter season.
3. Select the Right Materials
Another factor that plays a key role in your overall commercial building cost is the material selection. If you choose to work with a design-build company, the team can provide you with upfront costs of materials so that the construction cost stays within your budget. It is imperative that you choose the right materials for your commercial project that are cost-effective and long lasting. A professional design-build team can guide you towards materials that are best suited for your commercial project while staying within your budget.
4. Plan for the Future
The cost of your commercial construction project does not end with the completion of the construction phase. To save money in the long run, you need to think of long-term cost savings. For example, right from the beginning of the project you should factor in the sustainability of the building, energy efficiency, quality of materials, and so on. In today’s sustainable era, there are various ways you can ensure that your commercial project is a high-performance building that has lower maintenance, reduced carbon footprint, and high efficiency. Selecting environmentally-friendly materials, mechanical and electrical equipment, and appliances can produce significant energy savings that offset the initial high costs. If you only want to remodel your existing commercial infrastructure, you should also consider repurposing or reusing existing materials that will significantly reduce your overall project cost.
5. Choose the Right Commercial Contractor
You might find it challenging to reduce costs and stay within budget for your next commercial project. It is important that you hire a reputable and experienced commercial construction company that can guide you right from the conception to the final closing. This way you will have the best insights on how much the entire project will cost, how much time it will take, and all the minute details that will impact your commercial project. They will also work to eliminate change orders, detect problems head on, and resolve issues faster to ensure your commercial building is delivered on time.
If you are looking to build your next commercial project, our team at North Shore Management can help you plan, design, construct and manage the project from start to finish. We take pride in being a customer-centric company that listens to you, understands your requirements, and delivers a project that exceeds your expectations.
Phil McKee
President
NSM Group of Companies
