Factors that Influence the Cost of a Project
Construction of a new building structure is a complicated investment requiring careful consideration of many factors. Primarily, an investor must determine the structure’s purpose, function, and use. Building different structures have different needs, and different needs come at different costs. When evaluating the expected costs of building a new structure or using an existing one, it is critical to consider the many need-based factors that could influence this decision. When considering the potential expense of your investment, contemplate the following three questions:
What do you need accomplished in the building? What are you doing inside?
When it comes to your business, the building is merely a shell. What’s truly significant is what’s happening on the inside. The main objective l for any commercial construction project is to maximize the efficiency and effectiveness of what happens inside the building. Certainly, the process and materials used to maximize the efficiency of a high-tech medical clinic will be very different than the process and materials used to maximize the efficiency of a storage warehouse. The process and materials used for one will require different costs than the process and materials of another.
The solution to maximizing the return on your investment is to systematically understand and layout all internal operations. Ultimately, what really matters is balancing the efficiency and environment within the building, to the cost of the building’s construction. This way, you can decide what materials and construction processes are best suited to your project and which will help you find the best value. Focusing too heavily on the cost may come at the expense of productivity and durability, which could essentially be costlier in the long run. For example, a building’s interior may not facilitate maximum efficiency, and the business may incur high maintenance costs or a loss in time or productivity in the future. Saving money in the short term through lower construction costs doesn’t automatically yield lower business costs, in fact, it could actually lead to higher costs and render the building a poor investment.
Does the appearance of the building impact the business? Is it a sales tool?
Even though buildings are just shells in the business realm, to some businesses it is important to have an appealing shell. The exterior charm can be crucial for some businesses to draw in customers. For other businesses, it could be entirely irrelevant. Online retailers, for example, may not have any regard for how their building looks. A simple, plain exterior would be just as effective as an extravagant, charming one at maximizing productivity and efficiency for such a company. However, for retailers that sell their products from their building exterior appeal is very important. Their efficiency can only be maximized if their exterior draws in customers. So walk-in retail businesses would have to invest more in the appearance of their shell than an online retailer would.
What are the site conditions?
Not all sites are identical. Sites can differ in soil types, incline, and regulation among many other things. Building on certain kinds of soil can be much more expensive than building on others. Also, building on a steep slope will require more landscaping costs than building on a level terrain. Additionally, some areas have aesthetic requirements, where the exterior of the building must be of a certain material (brick or stone) for the building to be located there.
We conclude that It is impossible for any contractor to accurately predict the costs of a commercial construction project without understanding the building’s functional and locational needs, and their implications. Attempting to do this would be harmful to investors and could have long-lasting negative financial implications. Once you have taken the time to compile a plan for your facility that incorporates these factors, contact us at email@example.com to receive a preliminary estimate regarding the cost of your prospective building. The design, construction, and permitting experts at Maxx Builders and Designers would be glad to help you.