Believe it or not, the global construction industry is worth more than ten trillion dollars. In fact, the industry was so hot during the pandemic that we even experienced a lumber shortage in the United States.
Clearly, consumers have an appetite to build. This means that construction firms can’t waste any time or money. They need to do a lot of work in the preparation stages to make sure that the construction goes smoothly and efficiently.
But what do you need to consider before you start a construction project? That’s a great question. And we have the answers that you are looking for.
So if you would like to learn more then keep on reading and we will take you through the top things that you need to know about before you start a new construction project.
1. Create a Realistic Budget
When you’re just starting to put a project together, it is very important that you create a realistic budget. Many firms will offer low bids in order to win jobs. But this can backfire when things don’t go exactly as planned and you end up spending a lot more money than the client agreed to.
If you have a financial team then they will work with you to make a practical budget to spend on the construction project. If you don’t have a dedicated department for this then you should take the time to calculate a budget that can get you business while delivering a high-quality product.
You should use Cost Certified software to help you provide your clients with accurate and aesthetic budget estimates.
2. Pick a Location
While it might seem obvious, there are location factors that you need to consider for the kind of construction project that you can do. You most likely already have your location in mind for where you want to build. However, location choices will also need to comply with zoning and budgeting.
While you might want a ten-story building with an underground garage, you might not be legally allowed to do it.
Be very careful when you pick a location. If you are using a commercial property agent, they can help you achieve your construction dreams based on local laws and regulations.
You should never buy land unless you know you can legally use it for what you want.
3. Acquire Zoning Permits
Once the location is set and you know that you can build on it, you will have to get the right zoning permits. Local zoning requirements refer to what kind of structures or buildings you can build on different pieces of land.
A zoning code will tell you which buildings can be constructed. The zoning permit that you get is going to have details for the structures and divisions of land.
After you get your zoning permit, you can go ahead with getting the building permit. A building permit can be used for the architecture of the structure. Basically, the includes the safety and physical features of the building.
You will need both building permits and zoning permits before you can start legally building anything.
4. Choose a Start to Finish Date
Before you build anything, you need to have a good idea of when the project will start and finish. When does the construction project need to be completed? Do you need to open the building by the new year or a certain season?
Think about the purpose that the end project is going to serve. If you need to have extra office space because you are going to be hiring more workers then you may want to expedite the project.
However, if the completion date isn’t as big of a concern to you, you can then save money and focus more on quality and getting everything perfect.
The general contractors are going to need a timeline. If you need the project to be completed in a short amount of time then the general contractors might need to hire more workers.
Be aware that a variety of problems can come up and delay the construction. Weather is usually a big one. But you also might run into zoning issues, building mistakes, supply chain problems, or other unforeseen issues.
5. Request Bids from Commercial Construction Companies
After the logistics are all planned out, you will need a construction company to begin the assembly. As we already noted, the company will need very specific details of the project. They won’t be able to start without the proper documents for the building and plot of land.
Construction companies will give you their proposals as part of the bidding process. You’ll want to reach out to at least three companies to get an idea of the field of candidates. The bids are going to rely on the square footage of the building, how long the construction project will take, and the architecture of the building.
The Importance of Knowing What to Consider Before Starting a Construction Project
Hopefully, after reading the above article, you now know what to consider before starting a new construction project. As we can see, there is a lot that you will need to do before you break any ground. But doing this work will ensure that you have a smooth and successful build.
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