5 budget mistakes that make commercial construction more expensive
5 budget mistakes that make commercial construction more expensive
Planning a commercial building can be one of the largest investments a business can make. Decisions made during the planning phase will affect both the initial project and operations for years to come. It’s tempting to make short-term budget decisions, but sometimes they can be costly in the long run. Here are some common construction budget pitfalls and how to avoid them.Â
1. Underestimating cost of construction delays
It’s easy to choose the less expensive materials and make other budgetary concessions. But it’s important to look at the overall construction costs – including the construction timeline itself.
For every day that the site is under construction, there are costs associated with that. The project is costing money in labor, materials, and other maintenance expenses, but is not generating any revenue. The longer the construction lasts, the bigger the delay in income.
Metal buildings are known for their streamlined construction timeline. Because parts are pre-fabricated to the right dimensions, there is less time wasted on the job site for measuring and cutting.
2. Ignoring long-term operational costs
Certainly, there is a high upfront cost to any construction project. But there will be annual maintenance and repair expenses for the life of the building. When deciding on construction materials, look at choices that will reduce your long term expenses.
Metal building components are something to consider if you would like to reduce annual maintenance costs. They are less susceptible to rot and pests (as opposed to wood construction) and are naturally stronger and fire resistant. These qualities can reduce maintenance costs for years to come.
3. Miscalculating future usage
In business, things rarely stay the same. Demands increase, trends change, and business plans grow. The building you are creating now may not meet your needs in just a few years. It’s important to choose construction that is flexible and easily modified or expanded, so that your business can grow and change.
Steel construction is highly flexible and versatile. Because it can support large interiors with simple framing modifications, it’s easy to add on or reconfigure your space when your business needs change.
4. Overlooking energy costs
Annual heating and cooling costs can be a significant line item in your daily operations. Here in New England, the summers are hot and humid, while the temperatures drop significantly in the winter.
Modern metal building materials can be well insulated and coated with reflective materials to keep heating and cooling costs to a minimum.
5. Not planning for longevity
With a large investment like a new commercial building, longevity is a key component of the total return on investment. Choosing the right materials can affect how long the building itself can withstand the elements and remain functional.
Choosing metal components can increase the durability and longevity of your metal building. Its natural strength can withstand high winds and earthquakes better than wood can. And galvanized steel can prevent corrosion over time, adding to the lifetime of the building.
Choosing Cost-Effective Construction MaterialsÂ
If you are looking to maximize the total return on investment (ROI) for your next construction project, metal buildings are a smart option. Our construction professionals can walk you through planning your next commercial or industrial building while avoiding common budget mistakes. Contact D.R. Poulin Construction Co. at 978-353-6740 for your next construction project.
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