Commercial construction costs rise every year, thanks to new regulatory fees and the price of materials and labor. Companies must be smart about their planning and execution to avoid excessive costs and make a profit. These tips can help you complete a project at or under budget while keeping your clients happy, too.
How to Lower Your Commercial Construction Costs
1. Price Shop
Many construction companies use the same suppliers frequently, but shopping around can fetch lower prices on the same materials and equipment. Market prices change often, and you might be unaware you’re paying more than you could elsewhere. Just make sure you don’t invest in poorer quality materials by paying less.
2. Recycle Materials
Contractors often have some excess materials from a project that can be reused for another. Some items are recyclable, such as steel, so if your commercial construction project involves a remodel, look at ways to reuse or recycle ductwork, plumbing, and frames from the former structure.
3. Keep an Inventory
Before you start any construction project, have a site manager create an inventory of the materials, tools, and equipment available. Keep small tools and materials secure, and mandate that all workers sign them in and out to prevent those items from being misplaced. This helps employees understand they’re responsible for replacements if those items go missing.
4. Communicate With Your Client
Your client will rely heavily on you and your crew to make decisions, and their input is essential to planning everything from materials to the design. Smart planning includes open communication between the client, architects, and subcontractors. By making decisions upfront with everyone’s clear feedback, you can avoid costly mistakes.
The best way to save costs on a commercial construction project is by hiring an experienced and reliable commercial real estate development company. D'Argent Companies, based in Alexandria, LA, has been a leading developer for more than 25 years. They specialize in turnkey solutions, unmatched customer support, and honest prices for a variety of projects, including warehouses, retail centers, office buildings, and restaurants. Their team will work with you through each stage of the construction process, ensuring you’ll save time and money. Call (318) 787-6049 or visit them online to schedule an appointment today.