Last Updated on Mar 31, 2020 by James W

construction-budgetLike a lot of businesses, yours may have the need for construction somewhere along the line. Whether it’s a new office, branch, or just an extension, there are all kinds of scenarios where you’ll need to commission a building. Although essential, having some construction done is never cheap. However, there are ways to mitigate the financial burden. Here are some great tips to take with you.

First of all, make sure you go through the planned project in meticulous detail. Pretty much every contractor who takes commercial jobs will be happy to meet you in person, and talk through the entire process step by step. This is your first big opportunity to cut costs. Contractors want to make money, and they may slip things in which you don’t want or need. In a lot of cases, you’ll be able to find phases of the project you can do yourself or delay. It may take a while, but be sure to ask about anything in the plan you don’t understand. You’ll probably find all kinds of opportunities for saving money in this first stage.

Sourcing your own materials is another great way of reducing the cost of construction. A lot of contractors will offer to take care of this for you, and then leave you with a pretty hefty cost to make up. It may take a little more hassle, but sourcing your own materials is a great way to cut down the cost of a construction project. Things like vehicle and generator hire can also be cheaper when you look for them yourself. Your contractor may be willing to work with you in sourcing your own materials, albeit a little disgruntled! Just make sure you come to an agreement before the project actually starts. If you really want to penny-pinch, and be green in the process, then you may even want to find reclaimed materials. Construction materials make a big part of the overall costs, so don’t neglect to explore your options.

Once the project is up and running, make sure you stay involved and organised with every phase. I understand that running your business is likely to take up a lot of your time. However, there are a lot of hiccups that can happen in the course of a construction project. This can mean a longer time until completion and expenses which you hadn’t planned for. Before work starts, get down to the site and make sure everything’s ready for your construction company to get started. Make sure the site’s foreman can contact you at any time, through a couple of different channels. Whenever materials arrive, double and triple check they’re what you ordered and in the right quantities. When the team runs out of something, your whole project could grind to a halt. You might want to assign someone to liaise with the contractors, but to be safe I’d do it personally.

Commissioning a construction project isn’t cheap, but a clear-headed approach can make all the difference. Keep these tips in mind when you come to your project.

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